Singapore's Aura acquires Australia vaccination player
Singapore-based Aura Private Equity has acquired a majority stake in Australian Vaccine Services (AVS), a leading provider of corporate flu vaccinations.
The size of the deal was not disclosed. Aura Private Equity - part of Aura Group, which runs numerous fund strategies and has $700 million in assets under management or under advisory - typically writes checks of around $10 million for companies of up to $200 million in enterprise value.
Based in New South Wales, AVS runs large-scale vaccination programs across multiple sites and states, mobilizing a local immunization nursing team to administer vaccinations on client premises. In 2021, AVS delivered over 210,000 influenza vaccinations. Clients include government departments, corporates, universities, councils, and not-for-profits.
The company also runs a voucher program, giving corporate clients direct access to influenza vaccines. Pharmacy chains with more than 2,000 locations nationwide participate in the program.
AVS was recently permitted to start offering corporates COVID-19 vaccinations as a member of the National Vaccine Administration Partners Program (VAPP).
“AVS has experienced a history of sustained growth and has a clear and proven business model. We believe this profitable business is well-positioned as a market leader today to capture the current market tailwinds and we see many opportunities ahead for us to scale the business further in both vertical and horizontal integration," said Andrew Nai, a director of Aura Private Equity.
The investor will help AVS scale its vaccination programs across Australia and potentially expand into Southeast Asia.
Aura Private Equity has existing healthcare sector exposure through Kim Dental, a Vietnam-based dental clinic chain. The company raised a $24 million Series B led by the impact investment arm of Temasek Holdings earlier this year.
The firm has also backed the likes of the Anytime Fitness gym franchise in Asia as well as strata financier Lannock and cloud communications platform 1300 Australia in Australia. The latter business was sold to Australia-listed Unity Wireless in 2020.
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