Report
Chris Kallos

Virtus Increases IVF Market Share in Denmark With Trianglen; Raising FVE to AUD 6.35

We raise our fair value estimate for no-moat Virtus Health to AUD 6.35 per share from AUD 6.20, given the impact to earnings following its acquisition of Trianglen Fertility Clinic, a full-service IVF provider located in Copenhagen, Denmark. The purchase consideration comprises DKK 141.5 million, or about AUD 30 million, in cash, with the remaining DKK 15 million, or AUD 3.2 million, in debt. 
The acquisition price represents an EBITDA multiple of about 8 times, in line with Virtus’s past acquis...
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

Other Reports on these Companies
Other Reports from Morningstar

ResearchPool Subscriptions

Get the most out of your insights

Get in touch