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Zenitas completes acquisition of physiotherapy, health services provider

Zenitas Healthcare Ltd. completed the acquisition of privately held Peninsula Sports Medicine Group for A$6.9 million.

The Australian healthcare services provider acquired five of the six clinics Peninsula Sports operates. Zenitas will acquire the sixth clinic once it achieves certain profitability benchmarks.

The five clinics generated A$6.4 million in fiscal 2017 revenues and an EBITDA of A$1.5 million. Zenitas itself generated A$22.4 million in fiscal 2017 revenue, according to S&P Capital IQ data.

Peninsula Sports Medicine Group provides physiotherapy and health services. The company was founded in 1991 and is based in Langwarrin, Australia.