Fertility services company Virtus Health is set to expand into the Asia Pacific and Middle East regions and look for acquisitions following its successful IPO, which saw backer Quadrant fully exit its stake.
Chief executive of the Australian company Sue Channon told the Financial Review programme on Channel 9 that the company will look for acquisitions.
Channon added, “The other area of growth for us will be an international expansion.”
“The Asia-Pacific, China, India and Middle East markets are very immature and highly fragmented.”
The company raised AUD$338m ($333m) via last week’s IPO with Quadrant selling its entire 43 per cent stake, while it was initially expected that the private equity firm would retain a 10 per cent interest.
Virtus expects to report an EBITDA of $60m this year compared with just overn A$50m in 2012.
Quadrant has recently partially exited its stake in New Zealand retirement village company Summerset Group.
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