Vita Group (ASX: VTG) has continued its expansion into the field of medical cosmetics, adding The Bradford Clinic in Toowoomba to its burgeoning portfolio.
Spearheaded by CEO Maxine Horne, Vita Group began its rollout of a national network of cosmetic clinics under the Artisan Aesthetic Clinic brand in November last year.
This latest acquisition takes Vita's total portfolio to 13 clinics, which now includes seven in Queensland, three in New South Wales and three in the ACT.
The Bradford Clinic was originally established by Dr Julie Bradford, a medical practitioner with more than 30 years' experience and six fellowships across cosmetic and anti-ageing medicine.
Horne said the clinic was a natural fit to incorporate into the Artisan brand.
"We are thrilled to welcome Dr Bradford and the team at The Bradford Clinic," she said.
"They bring extensive experience to Artisan with a shared vision of setting the standard for best practice across the industry.
"We look forward to drawing on their knowledge within the aesthetics industry to continue to build our network of clinics and establish ourselves as a leader within this exciting and growing market."
In just over one month, Vita Group also opened a new clinic in Rosalie and rebranded another freshly acquired Artisan Aesthetics Clinic in Fortitude Valley.
The Fortitude Valley acquisition alone is reportedly expected to add an additional $2 million in annual revenue and at least $370,000 in EBITDA during its first full year.
Vita now aims to hit the ambitious target of opening 70-90 clinics nationally within the next five years.
VTG shares are currently trading up 1.57 per cent at $1.61 at the time of writing (10:52 AEST).Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
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