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Vita Group expands skincare offering by acquiring Artisan clinic in Brisbane

Artisan is expected to add at least $370,000 in EBITDA in its first full year, post-acquisition.
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Building a premium skincare network

Vita Group Limited (ASX:VTG) has expanded its non-invasive medical aesthetics (NIMA) portfolio by acquiring Artisan Cosmetic & Rejuvenation Clinic, located in Fortitude Valley, Brisbane.

The acquisition expands Vita’s NIMA portfolio to seven clinics and continues its plan to build a presence in all states across the eastern seaboard.

Additional $2 million in annual revenue

Artisan was acquired for $1.525 million in cash and all key team members have entered into new contracts that include new commercial terms.

Importantly, Artisan is expected to add an additional $2 million in annual revenue and at least $370,000 in EBITDA in its first full year, post-acquisition.

Building a medical-grade skincare offering

Vita chief executive officer Maxine Horne said: “We are very pleased to welcome Dr Williams and her experienced team at Artisan to Vita.

“We are on our way to building and scaling a premium, medical grade skincare offering, positioned to service clients that value the highest quality medical care and expertise in a safe and intimate environment.

“This acquisition is another small step in achieving our goal.”

Strategic partner of Telstra

Vita has been a strategic partner of Telstra (ASX:TLS) for more than 20 years through its independent telco retail brand, Fone Zone.

The company is now operating 105 Telstra branded retail stores and 22 Telstra Business Centres across Australia.

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