Virtus is an Australian healthcare services company specialised diagnostics and day hospitals.


Virtus is an Australian healthcare services company providing patients with Assisted Reproductive Services, specialised diagnostics and day hospitals. Virtus has a network of 33 fertility clinics, 17 embryology laboratories, 18 andrology laboratories, six specialised diagnostic testing laboratories and six day hospitals across New South Wales, Victoria and Queensland.


Quadrant was attracted to Virtus due to its market leadership in Australia, multiple growth strategies, strong Doctor model and experienced senior management team.
 Our investment thesis focused on driving consolidation through interstate clinic acquisitions, maintaining steady volume and price growth and increasing ancillary revenue streams of specialised diagnostics and day surgeries
During Quadrant’s investment earnings grew from $10.4m in 2008 to a forecast of $63.0 million in 2014.

Quadrant achieved a number of operational and structural improvements including:
  • Acquired 4 IVF clinics and established 5 new IVF clinics across eastern seaboard
  • Recruited a CFO and implemented a new senior management structure
  • Completed three day hospital acquisitions and established one greenfield day hospital
  • Established 4 new “low cost” IVF clinics, opening up a new market
  • Contracted with 28 new Doctors