Vitura Health's Strategic Acquisition of Candor Medical: A Game Changer in Australian Digital Health

Vitura Health Limited (ASX:VIT), a diversified digital health company, has made a strategic move to acquire Candor Medical, one of Australia's leading medicinal cannabis clinic businesses. This acquisition, valued at $5.9 million, including a $4 million initial cash component, is set to significantly impact the competitive landscape of the medicinal cannabis clinic market in Australia. The deal was facilitated by a $5.1 million investment from Professor Khalil (Charlie) Shahin AO, a prominent Australian business leader, further strengthening Vitura Health's financial position and growth prospects.



The acquisition of Candor Medical aligns with Vitura Health's 2024 strategy reset, aiming to deliver more specialty healthcare to Australians, improve growth, and enhance financial performance. By combining the large patient base of Doctors on Demand, the personalized approach of Candor Medical, and Vitura's deep pharmacy and distribution network, the company aims to create a game-changer in the Australian digital health landscape.

Candor Medical's focus on prescription treatments and access to medicinal cannabis complements Vitura's existing services, providing patients with a broader range of options and enhancing the company's ability to offer personalized care. The acquisition immediately expands Vitura's consolidated consultation numbers to over 100,000 annually, not including the over 300,000 annual consultations performed by Doctors on Demand. This consolidation of market share strengthens Vitura's position in the competitive landscape and allows the company to offer more specialized healthcare services to a larger number of patients.

Professor Khalil (Charlie) Shahin's investment in Vitura Health is a significant vote of confidence in the company's direction and growth potential. As a high-net-worth businessman and Managing Director of Peregrine Corporation, Shahin's investment brings not only financial stability but also valuable industry insights and expertise to Vitura Health. The acquisition of Candor Medical, combined with Shahin's investment, underscores Vitura Health's commitment to making specialty healthcare products and services more accessible to millions of patients across Australia.



In conclusion, Vitura Health's strategic acquisition of Candor Medical is a game-changer in the Australian digital health landscape. The combination of Vitura's existing clinic businesses, Candor Medical's personalized care approach, and the company's deep pharmacy and distribution network creates a more comprehensive and specialized healthcare experience for patients. Professor Khalil (Charlie) Shahin's investment further strengthens Vitura Health's financial position and validates the company's strategic direction. As Vitura Health continues to execute its 2024 strategy reset, the acquisition of Candor Medical positions the company well to capture a larger share of the medicinal cannabis clinic market and deliver more specialty healthcare to Australians.