Aura Private Equity – a division under Singapore-headquartered fund manager Aura Group – is set to acquire a majority stake in Australian Vaccine Services (AVS).
While the transaction amount has not been disclosed, Aura Private Equity is typically seen writing cheques of around US$10 million ($13.7 million) for its acquisitions.
Based in New South Wales, AVS offers large-scale vaccination services across states in down under. Its clients include government departments, small-to-large corporations, universities, councils and non-profit organisations.
So far, AVS has delivered over 210,000 influenza vaccinations across Australia this year.
The company can now administer onsite Covid-19 vaccination programmes, after its appointment to the National Vaccine Administration Programme panel.
Going forward, AVS’ co-founder and CEO Adam Baker is looking to capture new Covid-19 commercial arrangements while building on the company’s core business in corporate influenza vaccination.
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“Now that the [Australian] Department of Health has authorised AVS to administer Covid-19 vaccinations, we look forward to supporting our clients for the long term, and ensuring their staff are protected during this pandemic from COVID-19 as well as influenza,” he adds.
Andrew Nai, director of Aura Private Equity is looking forward to working with AVS in offering corporates with both Covid-19 and influenza vaccinations.
“We believe [AVS] 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,” he elaborates.
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Aura Private Equity’s investment into AVS is its third successful transaction since the start of the Covid-19 pandemic. Its first – in early 2020 – was an investment into the Anytime Fitness gym franchise in Asia, while the second was a deal with Kim Dental, a dental clinic chain in Vietnam.
Other investments made by the fund include deals with Australia’s leading strata financier Lannock and 1300 Australia (formerly Telstra Phonewords), which was sold to the Australian-Stock Exchange-listed Unity Wireless in 2020.
Aura Group – which manages and advices on over A$1 billion ($0.96 billion) in assets – is now set to co-sponsor two Special Purpose Acquisition Companies (SPACs) with investment firm Fat Projects, in Singapore and the US.
Cover image: file photo
