# VRT - Virtus Health



## System (6 June 2013)

Virtus is an Australian healthcare services company whose main activity is providing patients with Assisted Reproductive Services, but which also derives significant revenues from specialised diagnostics and day hospitals. Virtus provides services to its patients through a network of 33 fertility clinics, 17 embryology laboratories, 18 andrology laboratories, six specialised diagnostic testing laboratories and six day hospitals across New South Wales, Victoria and Queensland. 

Proposed listing date: 11 June 2013

http://www.virtushealth.com.au


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## Tyler Durden (20 October 2013)

> The withering bank balances of couples such as the Maloneys are making fortunes for an exclusive group of doctors and investors. The couple is part of a large and expanding demographic of people who need assisted reproductive technologies to conceive children that is transforming IVF from a niche medical specialisation into one of the fastest-growing health businesses in Australia.
> 
> Over the past seven years, private equity funds have swooped on many of Australia's IVF clinics, paying hundreds of millions of dollars for shares previously held mainly by universities and doctors. As more people defer having children and advances such as surrogacy and sperm donation make it easier for "socially infertile" people, such as lesbian and gay couples and single mothers, to create babies, the fund managers anticipate a doubling in Australia's $500 million-a-year IVF industry over the next few years.




http://www.smh.com.au/national/health/making-babies-20131014-2vhbk.html

This looks like a good mid-long term buy. I'm surprised no one has posted in here yet?


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## Tyler Durden (29 October 2013)

Maybe I spoke too soon, in the last few days it's fallen from $8.80 to $8.40. But I still think this has good long term prospects, not sure the reason for the sell off.


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## mr. jeff (30 October 2013)

Tyler Durden said:


> Maybe I spoke too soon, in the last few days it's fallen from $8.80 to $8.40. But I still think this has good long term prospects, not sure the reason for the sell off.




I agree with the thinking that IVF will continue to grow.
Not sure how the accounts work with VRT yet though and so income remains opaque to me.
Will look more, but definitely an area worth exposure.

Especially for Australians who are seemingly quite happy to have (stale?) children at 40 + years of age.


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## VSntchr (2 June 2015)

Virtus suggesting that the growth in the market is heading to the bulk billing provider - would that be PRY?


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## DeepState (2 June 2015)

VSntchr said:


> Virtus suggesting that the growth in the market is heading to the bulk billing provider - would that be PRY?




I think so.


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## DeepState (2 June 2015)

MBS Items related to full IVF cycles (not FET) have really flatlined in the recent period.  There is simply a diminishing proportion of the female population getting full IVF cycles.




Possibilities:

They are all getting more fertile;
They are less interested in having kids recently;
It's too expensive to buy a house with that extra bedroom;
FET technological improvements have reduced the need for the fuller service IVF;
Not confident in the economy...as discussed IVF trades like a luxury good.

NSW did pull in a lot of growth relative to the national average for the 3 months to April vs pcp.  PRY is active in NSW and was once offering to fly people in from other states for treatments.

PRY will be losing money hand over fist with negative gross margin on this service if bulk billing.  Theideman (CEO, MVF-AU) views that this level of pricing cannot persist.

Although a disappointment for VRT-AU, the current growth rate for full IVF is in line with my assumptions for my MVF-AU valuation.  As mentioned in that thread, I could not make sense of the rating being given to VRT vs MVF.  Well, it makes more sense now.


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## The Triangle (8 December 2020)

Ive shed most of my holdings in VRT this past week.  The prices and fluctuations have been completely irrational (yet very tantalizing).   I've had to make multiple trades just to dump shares at a good price.  Seems completely algo run.  I think high $5s was too good to pass up. The international arms surely cannot be doing to well and reading articles from Europe there is still a lot of IVF disruption.  

Once VRT and MVF have released their half yearly reports I will be strongly considering re-entering one or both.  IVF is a good sector.  With MVF recently completing the capital raising to nearly eliminate their debt I think they will be in a better position.   There have been rumours of takeovers with both companies for several years which is why I'm usually in one of them.


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## The Triangle (9 February 2021)

Dumped the rest of vrt.   Will wait and see.   Markets are overheated.


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## System (5 August 2022)

On August 4th, 2022, Virtus Health Limited (VRT) was removed from the ASX's Official List in accordance with Listing Rule 17.14, following compulsory acquisition of its remaining securities by GH Capital Pty Ltd (ACN 617 386 982), Oceania Equity Investments Pty Ltd (ACN 655 692 738) as trustee for the Oceania Trust (Oceania) and Viney Bidco Pty Ltd (ACN 658 293 166) (formerly known as A.C.N. 658 293 166 Pty Ltd).
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