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.