October
Vitrafy Life Sciences fast-tracks IPO bookbuild
Vitrafy looks like it would raise $35 million for its ASX debut. Three existing investors – Regal, Thorney and Ryder Capital – are cornerstoning the book.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Ballarat’s Vitrafy Life Sciences preps IPO bookbuild for $117.5m float
IPO hopeful Vitrafy is led by Wesfarmers non-executive director and former Virtus Health boss Kate Munnings.
- Sarah Thompson, Kanika Sood and Emma Rapaport
August
IVF breakthrough shows AI just as good as humans, and much faster
A world-first study led by Australian researchers found an AI-powered embryo selection tool led to a similar number of pregnancies as human embryologists.
- Tess Bennett
January
AI’s processing muscle could help end the ‘torture’ of IVF
Advocates say artificial intelligence can make the IVF process quicker and cheaper by sifting through huge amounts of data in short order. Not everyone agrees.
- Tess Bennett
September 2022
UBS locks in $495m debt for BGH Capital’s Virtus Health
Domestic credit funds and overseas banks have tipped money into BGH Capital’s $495 million debt package to help pay for IVF provider Virtus Health.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
August 2022
- Analysis
- Mergers & acquisitions
M&A and the pursuit of strategic advantage
Hard-fought contests in Australian M&A over the last 12 months reveal some common ingredients for success.
- David Eliakim, Philippa Stone and Tom Story
UBS slugs away on Virtus Health funding package
Virtus Health delisted on August 4, but UBS is still trying to sell the debt it underwrote for the take-private.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
June 2022
Virtus Health to pay special dividend
The takeover target will pay a fully franked dividend of up to 30¢ a share if BGH Capital acquires more than 90 per cent of the company by June 14.
- Updated
- Carrie LaFrenz
May 2022
Virtus special dividend slashed due to break fee
The board has spurned BGH Capital for months, but has finally agreed to provide it with access to a data room.
- Carrie LaFrenz
Jefferies hits phones for Virtus Health scramble
Virtus Health and its bankers are scrambling to chase down the company’s shareholders and get them to accept an $8.15 a share bid from BGH Capital.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Virtus Health swaps horses to back BGH’s fresh bid
Sources suggested it is unlikely rival UK-based bidder CapVest Partners will up its bid again.
- Carrie LaFrenz
Virtus invokes exit clause, starts talks with BGH
Virtus has reminded shareholders that the BGH on-market bid will close next Tuesday and says it is seeking an update from the independent expert.
- Lucas Baird
Virtus tells shareholders to sit tight after new BGH bid
Virtus Health is telling investors to sit tight and ignore BGH Capital’s latest $8.15 per share on-market takeover offer while the IVF provider waits to see if its preferred suitor, CapVest Partners, will match the higher offer.
- Lucas Baird
Virtus twist coming as shares cross at $8.15, BGH to increase bid
A big day for Melbourne buyout firm BGH Capital looks like it could be about to get even bigger.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Proxy reports roll in for Virtus vote, BGH a mystery
While Mike Cannon-Brookes and AGL Energy hog the limelight in large caps, in small caps land the epic battle for IVF provider Virtus Health is set to come to a head.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
CapVest, Igneo Infra front lenders for acquisition funding
UK’s CapVest Partners has begun passing around the hat to collect just under $500 million for its $8.17 a share bid to buy listed IVF business Virtus Health.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
April 2022
Virtus battle turns ugly as CapVest takes aim at BGH
There’s plenty of drama still to play out in the takeover battle for IVF business Virtus Health, including some allegations of misleading conduct.
- Yolanda Redrup, Sarah Thompson, Kanika Sood and Anthony Macdonald
Virtus board backs new higher offer from CapVest
After four months and eight bids, the IVF player is backing an increased offer from the UK-based PE firm, blocking rival BGH Capital’s latest move.
- Updated
- Carrie LaFrenz
CapVest lobs new Virtus Health offer
London-based buyout firm CapVest has its head clearly back in front in the race for Australia’s Virtus Health.
- Anthony Macdonald, Sarah Thompson and Kanika Sood
Virtus suitor CapVest lodges new claim with Takeovers Panel
The UK-based PE firm is arguing that the market is not fully informed of what BGH’s maximum price might be ahead of selling shares to BGH under its latest offer.
- Carrie LaFrenz