Australia's Monash jumps on acquisition of fertility service provider

Monash IVF

18/05/2022 01:54

** Shares of Monash IVF Group  MVF.AX  jump as much as 5.7%
to A$1.115, mark their best day since March 21, if gains hold
    ** Assisted reproductive services provider announces the
acquisition of Australia-based fertility service provider PIVET
Medical Centre  urn:newsml:reuters.com:*:nASX24vZPf
    ** Adds that the deal includes initial up-front cash
consideration of A$9.4 mln ($6.61 mln) with a potential of
additional earn-out payments over one to two years
    ** Says deal strategically attractive as it allows co to
enter a new domestic IVF market; says Cairns Fertility Centre
business compliments MVF's existing IVF clinics in Northern
Queensland
    ** Stock currently flat this year, as of last close
 
($1 = 1.4225 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))