MELBOURNE: Vitura Health Limited (ASX: VIT), a leading digital health platform in Australia, announced Monday that its 50%-owned joint venture, Flora Holdings Pty Ltd, has acquired the assets of Heyday Medical Clinic, a prominent medicinal cannabis clinic. The acquisition aims to strengthen Flora’s national footprint in integrated holistic healthcare.
Heyday Medical Clinic, established in 2020, has served more than 5,000 patients and was named Australia’s Best Medicinal Cannabis Clinic in 2024 for its patient-centered care and clinical excellence.
The clinic’s team, including key physicians Dr. Jim Connell and Dr. Priya Ayyar, will join Flora’s expanded network, which includes Releaf-branded clinics acquired in late 2024.
Flora will pay $350,000 (excluding GST) in cash and issue shares representing 15% of its post-acquisition equity to Heyday’s parent company, MC Clinic Holdings Pty Ltd. Vitura will fund 50% of the cash consideration via a loan. The agreement includes a 12-month noncompete clause preventing the vendor from offering rival clinical services in Australia.
The acquisition broadens Flora’s patient access to telehealth and in-person consultations while consolidating its position in alternative medicine. Dr. Ayyar, named Head Doctor of Flora’s expanded network, highlighted the benefits of combining resources to deliver “gold-standard holistic healthcare.”
Post-transaction, Flora’s ownership will be split among Vitura (42.5%), F Varapodio Pty Ltd (42.5%), and MC Clinic Holdings (15%). Vitura will gain a second seat on Flora’s board, expanding it to five directors.
Vitura CEO Geoff Cockerill praised Heyday’s “best-in-class” reputation, noting the alignment with Flora’s mission. Former Heyday CMO Dr. Connell endorsed the partnership, citing Flora’s patient-care philosophy.
The ASX-listed company operates digital health platforms, including Canview, a medicinal cannabis distribution ecosystem, and holds interests in psychedelics research via joint venture Cortexa Pty Ltd.