Cronos Australia is proposing to rebrand as Vitura Health after conceding its current name has become less relevant since merging with CDA Health.
A name change will also deepen its integration with CDA, with the Cronos identity tied to a pre-merger era, it said.
The company will ask shareholders to approve the switch to Vitura at its annual general meeting on November 29.
“The company has worked to integrate the two businesses into one cohesive, high-performing company [and] the board believes that this integration will be deepened by the group adopting a new name that reflects the vision, values and aspirations of the merged company, rather than being tied to a name that more closely reflected the Cronos Australia pre-merger business,” it said in a note to shareholders.
In addition, Cronos Group now holds only 10% of the merged entity, down from more than 31% before the CDA deal.
“As a result, their influence and involvement in the company has reduced and therefore the board believes the ‘Cronos’ name is now less relevant to the group going forward,” the firm said.
The name Vitura Health draws on “connections to virtue and vitality” which “reflects the direction and future of the company”, it added.
The move to change the company name will require approval from 75% of shareholders.
