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On 21st June 2023, Sonic Healthcare, via a subsidiary, acquired 100% of the shares in Vita Group (ASX:VTG) via a scheme of arrangement. The total consideration received by shareholders was a 59% premium to the undisturbed share price before the announcement of the transaction.
Vita Group owns and operates two businesses – Clinical Operations (Artisan) and Cosmedcloud (CMC). Vita’s clinical operations include skin health and wellness treatments and services, with its 18 clinics spread across Queensland, New South Wales, ACT, and Victoria primarily operating under the Artisan brand. CMC is a bespoke clinic management software service focussed on and designed for the skin health and wellness category.
Sonic Healthcare is a diversified healthcare operator providing pathology, radiology, and primary care services across Australasia, Europe, and North America.
Record Point acted as the exclusive financial advisor to Vita Group.