Virtus Battle Continues Past Due Date
Another twist in the takeover battle for IVF operator Virtus, with private equity firm BGH changing tack yesterday by offering to launch an off-market bid for the company at $8 per share.
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Virtus Health is Australia and Ireland’s largest Assisted Reproductive Services provider with a growing global footprint. We help more than 5,000 couples around the world each year achieve their dream of having a baby.
Virtus Health provides its patients with a model of healthcare that integrates an extensive range of assisted reproductive services, specialised diagnostics and day hospital services.
In our home market of Australia, Virtus Health operates a network of integrated full service and low cost fertility clinics and laboratories, general pathology, high-end genetic testing and specialist day hospitals.
Virtus Health is Ireland’s leading fertility services provider, with two brands Sims IVF and Rotunda IVF, has a growing presence in Denmark with Aagaard Fertility Clinic and Trianglen Fertility Clinic, entered the UK market with Complete Fertility Centre in Southampton, England and operates a Virtus-branded fertility clinic in Singapore.
Another twist in the takeover battle for IVF operator Virtus, with private equity firm BGH changing tack yesterday by offering to launch an off-market bid for the company at $8 per share.
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The battle for IVF operator Virtus continues, with Australian private equity group BGH upping its offer price to $7.65 per share as it goes head-to-head with London based rival CapVest.
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London-based private equity firm Cap Vest has overbid local PE group BGH Capital in a new buyout offer for IVF group Virtus Health.
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CSL announced late Tuesday that it has struck a deal to buy Swiss-based Vifor Pharma Ltd for $A16.4 billion, its biggest deal since listing in 1994.
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Morgans upgrades the rating to Add from Hold as industry participants have noted a swift recovery for the first quarter FY21. Target price is $5.82.
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Morgans note a strong start to the new year for Virtus Health that has resulted in lower debt and confirmation from the company that the deferred interim dividend from March 2020 will be paid in November 2020.
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UBS reviews volume trends for the Australian IVF market and the implications. Data is positive for Virtus Health and the broker updates growth assumptions. Earnings estimates are upgraded by 1-11% across FY19-21.
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The flagging housing market and sagging consumer sentiment ahead of the federal and NSW elections have affected the performance of an unlikely ASX-listed exponent - the assisted reproduction outfit Virtus Health (VRT, $3.98).
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Shares in Virtus Health plunged by nearly 20% yesterday after the fertility service provider warned falling demand for IVF services and competition from low-cost operators has hit first-half volumes and will affect full-year results without a rebound in demand and profit margins.
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