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Zenitas acquiring 80% of physiotherapy, health services provider

Zenitas Healthcare Ltd. agreed to acquire 80% of the Peninsula Sports Medicine Group for A$7.5 million.

Peninsula Sports, which provides physiotherapy and allied health services, comprises six clinics and generated revenue of A$7.1 million in fiscal 2017.

Zenitas expects to complete the acquisition in February 2018, subject to customary closing conditions, funding it using existing cash reserves.

The company said Peninsula Sports will improve the scale and efficiency of its existing allied health business.

The four clinician vendors in the transaction will retain 20% of Peninsula Sports.