Vitura Health Limited (ASX:VIT) Completes Acquisition of Candor Medical
Acquisition Completion
Vitura Health Limited (ASX:VIT) has completed the acquisition of Livelihood Health Pty Ltd, operating under the “Candor Medical” brand. This acquisition strengthens Vitura’s position in the digital health sector by expanding its range of prescription treatments and telehealth consultations.
Transaction Details
The purchase price for the acquisition is $5.9 million, comprising an initial cash payment of $4.0 million and a deferred payment of $1.9 million. Vitura utilised placement funds from AFO Investments Pty Ltd to make the initial payment. The deferred amount will be paid in 18 monthly instalments of $105,556 each. Additionally, Candor founders Joel and Dr Lisa Beckett have joined Vitura as General Manager – Specialty Clinics and Chief Medical Officer – Specialty Clinics, respectively.
Executive Comments
Robert Iervasi, Vitura Chair, stated, “Vitura is very pleased to have completed the Candor acquisition and to welcome both Joel and Lisa Beckett into the Vitura family. We look forward to working closely with the whole Candor team to drive further growth and value for our shareholders and to continue our delivery of best-in-class service for our growing patient base.”
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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