Virtus Health share price higher after naming Ramsay executive as its new CEO

The Virtus Health Ltd (ASX:VRT) share price is pushing higher after naming a Ramsay Health Care Limited (ASX:RHC) executive as its new CEO…

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The Virtus Health Ltd (ASX: VRT) share price is pushing higher on Friday.

In morning trade the fertility treatment company’s shares are up 0.5% to $4.35.

Why is the Virtus Health share price pushing higher?

This morning Virtus Health announced that it has appointed a new group chief executive officer to replace the departing Sue Channon.

Late last year Channon advised that she would step down from the role in February after seven years as the company’s leader.

According to the release, the company has raided Ramsay Health Care Limited (ASX: RHC) and appointed its Australian chief operating officer, Kate Munnings, as its new group chief executive officer.

Ms Munnings will commence in the role on May 4. In the meantime, the company’s chief financial officer, Glenn Powers, will take on the job on an interim basis.

The company’s chair, Sonia Petering, said: “Kate brings a depth of professional experience, most recently as Chief Operating Officer with Ramsay Health Care Limited’s Australian business, leading the operational performance of the Australian organisation including 73 public and private hospitals and community services nationally, with more than 30,000 clinical and support staff, as well as a significant number of specialist medical practitioners.”

Prior to working with Ramsay Health Care, Ms Munnings was an executive at Transfield Services, now known as Broadspectrum. She led the logistics, construction, and consulting business which provided diversified services, largely to State and Commonwealth Government agencies across Australia and internationally.

Ms Munnings revealed that she was excited to join the company.

She said “I am very excited to be joining Virtus Health, and to work with the talented people across 43 fertility clinics in five countries; an Australian network of general pathology, specialist fertility and genetic testing services and seven day hospitals, helping couples and single women achieve their aspirations to create a family.”

“A market leader in Assisted Reproductive Services in Australia and Ireland, Virtus Health is recognised as being at the forefront of patient care applying new technology and advanced solutions to provide high quality service and leading pregnancy success rates,” she added.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ramsay Health Care Limited and Virtus Health Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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