Live long and prosper
​Venture Life manages a growing portfolio of its own healthcare brands focused on ageing consumers, supported by its integrated product development and manufacturing model. Sold without prescription, these brands address common ailments of ageing, cater for a population with raised expectations of quality of life and longevity, and travel well across international markets.
Trends for the self-care, self-pay consumer healthcare market are positive, highlighting opportunities in both developed and emerging markets. Venture Life maximises brand value through international distribution agreements outside of the UK.
International growth paints a particularly positive picture. UltraDEX, Lubatti, Benecol, NeuroAge and Procto-eze are all set to expand revenue prospects in Europe and other international markets (notably China).
The company owns a manufacturing centre in Italy (Biokosmes), which is key to the operational scale, efficiencies and leveraging improved financial metrics in our model.
We regard the investment story as being low-risk, but offering high-growth potential. CAGR revenue growth of 17% is forecast from 2016, and a move into profits of . With a pre-tax forecasts of £0.54m in 2017 and £1.39m in 2018. That translates into a forward CAGR for EBT of nearly 70% pa.
Our DCF analysis supports a fair value of ~£44m which equates to 120p per share, more than twice the current level.
Venture Life Group is a holding company, engaged in the development and commercialisation of healthcare products. Co.'s products address healthcare issues from oral healthcare, women's intimate health, neurology, cardiovascular and dermatology. Co.'s products include UltraDEX, a product range for the treatment of halitosis. Co.'s other brands are: NeuroAge™, a food supplement indicated for short-term memory loss and cognitive function; Myco Clear™ , indicated for the management of onychomycosis; Rosa calma™, a range of three topical products that treats this inflammatory skin condition; and Procto-eze™ Plus, a range of medical devices and cosmetics for the treatment of haemorrhoids.
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