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Quadrant in talks over sale of IVF provider Virtus

22 Aug 2012

Australian buyout house Quadrant Private Equity has entered discussions about selling its in vitro fertilisation business Virtus Health Group, it is understood.

The firm is believed to have been mulling the sale for months and is now in talks with an offshore buyer, according to Reuters.

It is though that Virtus, a merger of several IVF businesses across Australia, could sell for up to A$500m ($525m) – ten times the company’s EBITDA.

Morgan Stanley has been hired to advise on the sale and is believed to be offering finance plans based on leverage of four to five times.

In June Bowmark Capital  beat Inflexion and Vitruvian Partners to buy Britain’s biggest fertility clinic, Care Fertility, in a deal understood to have cost the UK mid-market private equity firm around £60m.

Bowmark picked up the business from indebted private hospital operator General Healthcare.

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