VRT Virtus Health Limited

Highlights

• Virtus expands international footprint by opening first Virtus-branded Fertility Centre in Singapore
• Clinic, theatre and embryology laboratory ‘one stop centre’ based in prestigious Scotts Medical Center in Singapore’s city centre

Virtus Health (“Virtus”) (ASX:VRT), Australia’s largest IVF provider, is pleased to announce it has opened its first Virtus branded Fertility Centre in Singapore.

“The Singapore Ministry of Health recently adopted the Australian Reproductive Technology Accreditation Committee (RTAC) Code of Practice for the governing of fertility clinics and the Virtus Fertility Centre achieved both RTAC and Ministry of Health approval today,” Virtus Health Group CEO Sue Channon said.

The new Virtus Fertility Centre is one of the largest dedicated fertility centres in the region providing consultation and monitoring services, with its own theatres and embryo transfer rooms connected to a “clean room” laboratory ensuring optimal care for developing embryos.

“Our collaboration with local leading fertility specialists to establish the Virtus Fertility Centre in Singapore’s prestigious Scotts Medical Center medical precinct will offer patients the full suite of fertility procedures, from the very simple to the most advanced giving patients the best chance of having a baby,” Ms Channon said.

Virtus Fertility Centre Medical Director Dr Roland Chieng said the embryology lab is the first in Singapore to be ISO-certified as a clean room laboratory.

“Good, clean air quality is essential for embryos to grow and the clean room will ensure that the environment in the IVF laboratory has the lowest level possible of environmental pollutants,” he said.

“Having access to world class assisted reproductive technology and a large group of highly experienced like-minded colleagues will ensure our ability to provide the very best care for Singaporeans having trouble conceiving a child. The breadth of Virtus’ ART activities gives us enormous professional stimulation with access to research and current evidence based clinical practice,” he explained.

Virtus Fertility Centre’s first patients in Singapore are expected to begin treatment in January 2015. The Singapore fertility specialists associated with the centre undertake about 350 cycles annually, which is anticipated to rise to 450 in FY16 through market expansion both locally and from within the region.

“Singapore’s medical precinct attracts reproductive health patients from other countries and we believe this will be a strong growth market for us,” Ms Channon said.

The Virtus Fertility Centre was established within budget and cost AUD$3.5 million. In FY15 Virtus forecasts a small earnings dilution of less than 1% as a consequence of the Centre opening half way through the financial year with earnings enhancement forecast in FY16.

Virtus identified Singapore as a key platform for growth in a region where demand for IVF services is expected to expand as more women delay having children until later in life. The number of couples opting for IVF in Singapore has grown from 1,710 in 2005 to approximately 4,000 in 2013.

Establishing a fertility centre in Singapore continues to deliver on Virtus’ international expansion strategy and will be Virtus' second international operation following the announcement of the Sims Clinic acquisition in Ireland in May earlier this year.

Virtus’ model of collaborating with fertility specialists and bringing them together with an infrastructure of experienced scientists, nurses, counsellors and administrative support as a team to provide assisted reproductive services for patients was established in Australia and is expected to be successful in other countries.

About Virtus

Virtus Health Limited brings together leading clinicians, scientists, researchers and support staff to provide the very best in fertility care and related services.

Having developed one of the most successful medical collaborations in the world, with 100 of the world’s leading fertility specialists supported by 1029 professional staff, we are the largest network and provider of fertility services in Australia with an international presence in Ireland and Singapore. Our combined expertise creates a unique and powerful body of knowledge which when combined with the collegial team approach of our specialists and scientists, means we are able to find new and advanced solutions for achieving success for our patients. Our combined expertise and investment in resources and research allows us to bring clinical and scientific advances to our patients first. An example of this is karyomapping with preimplantation genetic diagnosis, automated single gene screening available only through Virtus Health Group in Australia since October 2014.

Virtus HealthSue Channon, +61 (0)2 9425 1722Chief Executive OfficerorBuchan ConsultingKyahn Williamson, +61 (0)3 9866 4722Investor Relationskwilliamson@buchanwe.com.auorSingaporePRecious CommunicationsLars Voedisch, +65-9170 2470lars@preciouscomms.com

Virtus Health (ASX:VRT)
Historical Stock Chart
From Mar 2024 to Apr 2024

Virtus Health (ASX:VRT)
Historical Stock Chart
From Apr 2023 to Apr 2024