TPG-backed Asia Healthcare acquires India fertility clinic
Asia Healthcare Holdings (AHH), a healthcare-focused operating and investment platform managed by TPG Growth, has agreed to acquire Nova IVI Fertility, an operator of in vitro fertilization (IVF) clinics based in India.
Nova IVI was formed in 2011 as a partnership between Nova Pulse IVF, a division of India’s Nova Medical Centers, and Spanish fertility clinic operator IVI. The company now owns India’s second largest network of IVF centers, with 20 clinics across 15 cities performing over 10,000 IVF treatments annually.
AHH currently operates 12 mother and child care centers under the Motherhood brand in India through Rhea Healthcare, which it acquired in 2016. The acquisition of Nova IVI will make the platform India’s biggest mother and child-focused healthcare provider.
“We are excited to see Nova IVI join the AHH platform, which has proven expertise in growing and scaling healthcare delivery systems,” said Naresh Rao, CEO of Nova IVI, in a statement. “This will unlock Nova’s growth potential and strengthen our proposition in India’s fast-growing fertility segment.”
Infertility is a growing problem in India, with the country’s birth rate expected to fall below replacement level by 2025 and as much as 15% of the country’s population believed to have trouble conceiving children. The trend has been blamed on lifestyle and diet changes resulting in higher obesity levels in men and women, along with environmental factors such as pollution.
Investors see an opportunity for private fertility clinic operators to meet the demand for treatment that overstretched public hospitals cannot match. Recent deals in the sector include TA Associates’ investment in Indira IVF earlier this year.
AHH is headed by Vishal Bali, former CEO of India’s Fortis Healthcare and founder of home healthcare start-up Medwell Ventures. The platform targets investment opportunities in single-specialty healthcare businesses in South Asia where it can leverage its sector expertise to accelerate growth. Its assets include the cancer clinic chain Cancer Treatment Services International and diagnostics center operator Ampath.
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