Invascent invests $6m in Indian IVF clinic chain

Oasis plans to use the new capital to establish more treatment centers and introduce more advanced therapies to its customers. The company will also invest in research intended to improve the state of fertility science in India and training programs to give newly developed treatments a wider reach.

Founded in 2009 as Sadguru Healthcare by infertility specialist Dr. Durga Rao and entrepreneur Kiran Gadela, Oasis operates a chain of clinics that provide full-service fertility treatments. Currently the company has five locations; it plans to open 20 more over the next five years.

Invascent made its investment through India Life Sciences Fund II (ILSF II), which closed in 2014 with INR8.7 billion ($130 million). The fund provides growth capital to mid-size companies in India's pharmaceutical, medical device, contract R&D and medical services industries.

"We looked for a leadership team with a stellar reputation and operating at the highest quality standards and delivering world class outcomes," Anula Jayasuriya, a managing director at InvAscent who will join the Oasis board, said in a statement. "Durga's international training and medical expertise, coupled with Kiran's management expertise, makes Oasis the clear choice."

Invascent has made a number of investments in India's healthcare sector via ILSF II and its predecessor Evolvence India Life Sciences Fund. Dubai-based Evolvence Capital was the anchor LP in the earlier fund, but is not affiliated with Invascent or the successor fund. The firm recently exited its 2012 investment in clinic chain Dr. Agarwal's Healthcare to ADV Partners, which invested $45 million for a minority stake that included Invascent's shares.

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• Topics
• South Asia
• Healthcare
• Early-stage
• India
• Evolvence Capital
• Venture