Vitura Health Limited (ASX:VIT) Acquires Heyday Medical Clinic
Acquisition Details
Vitura Health Limited’s joint venture, Flora Holdings Pty Ltd, has entered into a binding agreement to acquire assets from MC Clinic Holdings Pty Ltd, the owner of Heyday Medical Clinic. This acquisition enhances Flora’s clinical network, integrating face-to-face and telehealth consultations across Australia.
Financial Terms
Flora will pay $350,000 in cash and issue ordinary shares representing 15% of its issued capital post-issue to MCC. Vitura will contribute 50% of the total consideration through loan funds.
Executive Comments
CEO Geoff Cockerill stated, “We are very pleased to be joining forces with the Heyday Medical Clinic team with whom Vitura has worked closely for a number of years. We are confident that their best-in-class patient care and quality brand name will enable the expanded Flora joint venture business, comprising the Releaf and Heyday Medical Clinic brands, to deliver on its full potential.”
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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