Cristiano Ronaldo is set to embark on a new business venture by opening up a hair transplant centre in Madrid - and his girlfriend Georgina Rodriguez will take up a senior position at the clinic.

The Juventus forward co-founded the company Insparya Group, which has a number of centres around Portugal but now extensive plans are in place for a new one to open in the Spanish capital.

According to The Mirror, Ronaldo has reportedly pumped in the region of £1million into the business and has ambitions of taking the company global by investing a further £25m over the next three to four years.

Cristiano Ronaldo is set to open a hair transplant clinic in Madrid with his girlfriend (L) as boss

The 34-year-old posted a picture of him with Rodriguez with the caption: 'Business day' on Instagram on Tuesday afternoon and said: 'In addition to football, I am passionate about health, technology and research, they are areas which I wanted to invest in.

'I wanted the first clinic of the international expansion to be situated in Madrid, a city I lived in for many years.'

The new centre will employ 150 professionals working in 18 rooms and with the capacity to perform 18 hair transplants a day.

The Juventus forward co-owns the Insparya Group and wants to invest more money into it

Ronaldo's partner Georgina Rodriguez (right) is set to take up a senior role at the new centre

The price of a hair transplant at Ronaldo's six-storey clinic will range from £3,500 upwards.

Spokeswoman Carla Palanca told Golder's News: 'We can confirm that Ronaldo will be at the opening on March 18.

'The clinic will offer packages for foreign clients, offering a stay in the hotel, airport transfers and transport to and from the clinic during the treatment so that clients will be able to do the treatment here instead of Turkey.'

Insparya president Paulo Ramos added: 'We have the knowledge, but to open clinics outside of Portugal we need a reputation.

'He will give us that push. We want to open the next centre in 2019 or 2020.'