Update on ACCC proceedings challenging Virtus and Adora Fertility merger

ACCC

The Federal Court has today granted the ACCC an interlocutory injunction to restrain Virtus Health from completing its acquisition of Adora Fertility until the proceedings brought by the ACCC are finalised, or further Court order.

“We welcome the Court’s order to stop Virtus Health from going ahead with this acquisition before the Court has had an opportunity to hear evidence and make a decision on whether the acquisition is likely to substantially lessen competition,” ACCC Chair Rod Sims said.

Background

Virtus and Adora are both providers of IVF services. Both companies operate fertility clinics in Brisbane, Sydney and Melbourne.

On 13 October, the ACCC commenced proceedings and sought an urgent injunction to restrain Virtus from acquiring Adora Fertility and three day hospitals from Healius.

On 14 October, the Federal Court granted the ACCC an interim injunction which prevented the transaction from proceeding as planned on 15 October. The interim injunction was extended on 19 October after the hearing of the ACCC’s application for an interlocutory injunction.

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