Novus Capital – Advent Health Limited (AH1)

Advent Health has consolidated 12 multi disciplinary allied health practice groups from a highly fragmented industry into a sustainable business that maintains and enhances profitability and clinical outcomes. The group will provide support to individual practices to allow them to focus on their patients while being able to retain their individual branding.


  • 12 Allied Health Groups comprising 59 clinics across Australia.
  • Businesses comprise of the following disciplines Physiotherapy, Chiropractic, Podiatry,Psychology, Sports Fitness, Mental Health ,Exercise Fitness, Women’s Health, and Rehabilitation Services.
  • Audited FY 19 Revenue $35 m with $9.3 m of EBITDA.
  • Average purchase price of ~5x Historic EBITDA – Payable 60-70% in cash and at least 30% in Advent shares (escrowed for 24 months)
  • Management have extensive experience in the industry
  • Strong pipeline of potential future acquisitions
  • Very Competitive pricing on IPO to existing ASX listed entities.
  • Dual track strategy: Growth and Yield. Growth – organically & via acquisition, Yield through regular dividends
  • Offer Open: May 25. Expected Close: June 26 Expected Re-admission and trading on the ASX: Mid July
  • Note: Directors reserve the right to extend or close the offer early

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