SYDNEY: Vitura Health Limited (ASX: VIT), a leading digital health platform, announced it has entered into a Share Purchase Agreement to acquire Livelihood Health Pty Ltd and its associated companies.
Livelihood Health, under the “Candor Medical” brand, offers prescription treatments including medicinal cannabis through telehealth consultations.
Founded by Joel and Dr. Lisa Beckett in 2022, Candor Medical is one of Australia’s top medicinal cannabis clinics, serving around 15,000 patients with nearly $30 million in annual medication purchases. The acquisition will expand Vitura’s presence in the medicinal cannabis clinic industry.
Key points include:
– Livelihood Health Pty Ltd, based in Queensland, offers a range of specialty healthcare services through online consultations.
– The acquisition is subject to regulatory and third-party approvals.
– Candor Medical has approximately 15,000 active patients and employs 26 doctors and nurses.
– In FY2024, Candor’s unaudited EBITDA exceeded $1 million, with a similar performance in the first half of FY2025.
– The acquisition, valued at $5.9 million, is funded via a Private Placement to Professor Khalil (Charlie) Shahin AO.
Vitura CEO Geoff Cockerill expressed excitement about the acquisition, highlighting the alignment in providing personalized care and expanding specialty healthcare services. Candor founders will join Vitura as General Manager – Specialty Clinics and Chief Medical Officer – Specialty Clinics. This acquisition will increase Vitura’s consultation numbers to over 100,000 annually, excluding its general clinic business, Doctors on Demand, which conducts over 300,000 consultations annually.