- Monash IVF Group (MVF) acquires PIVET Medical Centre, marking its foray into the Western Australian IVF services market
- Monash IVF will pay an initial upfront cash consideration of $9.4 million, with the potential for additional earn out payments over a one to two year period
- The company’s entry into a new domestic IVF market makes the acquisition strategically attractive
- Completion is expected to occur during the first quarter of FY2023 and will be funded through Monash IVF’s operating cash flows and debt facilities available
- Monash IVF shares are up 4.03 per cent, trading at $1.10 as of 1:03 pm AEST
Monash IVF Group (MVF) has acquired PIVET Medical Centre,marking its foray into the Western Australian IVF services market.
Monash IVF will pay an initial upfront cash consideration of $9.4 million on a debt free basis, with the potential for additional earn out payments over a one to two year period from completion.
The company’s entry into a new domestic IVF market makes the acquisition strategically attractive, as noted by Managing Director and CEO Michael Knaap.
“Monash IVF currently has no presence in the attractive Perth market and the acquisition provides further geographic diversification for Monash IVF as we continue to increase our clinical footprint across Australia and South East Asia,” Mr Knaap said.
In addition, the Cairns Fertility Centre business compliments the company’s existing IVF clinics in Northern Queensland.
PIVET generates approximately $8 million revenue per annum and is anticipated to increase net profit after tax (NPAT) by approximately four per cent.
Completion is expected to occur during the first quarter of FY2023 and is expected to be funded through Monash IVF’s operating cash flows and debt facilities available.
The company believes the growth of PIVET will come as a result of continued exceptional patient experience, investment in technology and infrastructure, and attraction of new fertility specialists.
The Perth-born business brings 9 fertility specialists which have worked together for several years, into the Monash IVF clinician network.
Monash IVF shares were up 4.03 per cent, trading at $1.10 as of 1:03 pm AEST.