Elixinol Acquires Vitable for A$2.5m Amid Growing Global Interest in Personalized Health
Elixinol Wellness has announced its plans to acquire Australian personalized nutrition firm Vitable for A$2.5m (US$1.7m). The acquisition is subject to shareholders' approval during Elixinol's general meeting in early November and includes both unconditional and conditional components.
Vitable, founded in 2019, operates a direct-to-consumer subscription model combining online health assessments with its proprietary recommendation technology to provide personalized daily supplement packs. Its service and supplements are available across Australia, New Zealand, Singapore, the UK, Hong Kong, and the Philippines, with about 7,850 active subscribers and 1.84 million customer health assessments completed through its platform.
Elixinol's current market capitalization stands at A$3.63m, and Vitable could add over A$5m of revenue, enabling the company to exceed A$20m in annual revenue. The combined business is targeting A$27m in revenue and approximately A$3m of EBITDA by 2028.
Gavin Evans, independent non-executive chairman of Elixinol Wellness, said that acquiring Vitable 'is a step change' for the company, adding a subscription relationship, personalization engine, and first-party health data asset. He highlighted the growing global interest in personalized health, citing Procter & Gamble's acquisition of Thorne HealthTech and Nestle Health Science's purchase of Persona Nutrition.
The deal includes an unconditional payout of A$1.25m and another A$1.25m subject to net revenue and direct EBITDA growth. An additional A$1m will be considered if Elixinol's market capitalization exceeds A$20m within three years post-acquisition.