Report
Chris Kallos
EUR 850.00 For Business Accounts Only

Morningstar | Infertility market dynamics and the government funding model underpin a positive growth outlook for Virtus.

Virtus Health is a leading provider of in vitro fertilisation, or IVF, services, with 36% of the national market, and is the first pure play to list on the Australian Securities Exchange. Domestically, the company's integrated service offering and broad geographic reach provide scale benefits that support direct marketing to general practitioners for referrals and advertising among potential patients. A move into low-cost IVF services is segmenting the market, while the recent acquisition of a 70% stake in Irish business SIMS IVF heralds the start of an expansion strategy targeting both Europe and Asia. Despite positive market dynamics and favourable funding support under Medicare, a relatively small pool of available fertility specialists exposes the company to high levels of key personnel risk. Notably, 11 of the 83 specialists currently engaged as independent contractors are above 63 years of age.
Underlying
Virtus Health

Virtus Health is a global healthcare company engaged in the provision of healthcare services which included fertility services, medical day procedure services and medical diagnostic services. As an Assisted Reproductive Services provider in Australia and Ireland with a presence in Singapore, Co. provides patients with access to some of the clinical and scientific capabilities in fertility treatment as well as assisted reproductive technologies.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos

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