Indira IVF Hospital, India's leading infertility chain said on June 23 it is acquiring a stake in Ahmedabad-based Banker Healthcare, known as Banker IVF, to expand its fertility care services across Gujarat.
The financial details of the deal were not announced.
The collaboration will increase Indira IVF's presence in Gujarat, adding to its existing centers in Ahmedabad, Vadodara, Rajkot, Mehsana, and other key locations, the company said in a press release.
Banker IVF, headquartered in Ahmedabad, has over three decades of clinical experience in supporting individuals and couples with their fertility journeys, including those with complex medical histories. Dr Manish Banker, Director of Banker IVF, and his team will continue to provide assisted reproductive technology (ART) and IVF services, aiming to maintain consistency in patient care. Dr Banker will also serve as Chief Clinical Mentor for Indira IVF, offering guidance and insights to clinical teams across their network.
This expansion comes amid a reported 7% decline in Gujarat's child population over the past decade, indicating a broader drop in birth rates. Factors contributing to this trend include lifestyle changes, an increase in the age of marriage, and deferring childbearing due to career focus, all of which contribute to a rise in infertility challenges, particularly in urban areas. The integration of Banker IVF aims to increase the availability of structured and evidence-based fertility treatments in the state.
Dr Kshitiz Murdia, CEO and Whole Time Director of Indira IVF, stated that the collaboration is a "positive step" in making fertility care more accessible while maintaining high clinical standards.
Indira IVF now operates in over 150 locations and is focused on expansion into new geographies focusing on standardising the care.
BPEA EQT, which is part of the global investment firm EQT, acquired a majority stake in Indira IVF in 2023. Prior to this, TA Associates held a minority stake in Indira IVF, which they exited as part of the BPEA EQT transaction. The founders of Indira IVF, Dr. Ajay Murdia, Dr. Kshitiz Murdia, and Dr. Nitiz Murdia, also retained a significant minority stake and continue to lead the company.
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