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Last Updated : May 02, 2019 08:31 PM IST | Source: Moneycontrol.com

TPG's Asia Healthcare Holdings acquires Nova IVI Fertility chain for undisclosed amount

Nova fertility operates India’s second largest network of IVF centres with 20 centres across 15 cities.

Viswanath Pilla @viswanath_pilla

Asia Healthcare Holdings (AHH), a healthcare operating platform founded by US private equity firm TPG Growth, on May 2 said it has signed definitive agreements to acquire Nova IVI Fertility.

The financial details of the deal were not disclosed but sources said the investment could be in the range of $70 - $75 million.

Nova fertility operates India’s second largest network of in vitro fertilisation (IVF) centres with 20 centres across 15 cities.

AHH currently operates a chain of 12 women and children’s hospitals across India under the Motherhood brand.

Between Motherhood and Nova, AHH will create the largest mother and child-focused healthcare platform in India.

Nova Fertility was started in 2011 and through its collaboration with IVI established a standardised clinical and operating model.

The company performs more than 10,000 IVF treatments annually with 60 IVF and gynaecology specialists and 50 embryologists.

Leveraging its experience of growing the Motherhood network, AHH team and leadership will work alongside Nova Fertility team to build operating synergies and scale the network in the region. With the rise of women healthcare consumers in India, this integrated approach creates a formidable position for AHH, driven by both clinical excellence and geographic reach.

“We are excited to see Nova Fertility join the AHH platform which has proven expertise in growing and scaling healthcare delivery systems. This will unlock Nova’s growth potential and strengthen our proposition in India’s fast-growing fertility segment,” said Naresh Rao, CEO of Nova Fertility.

TPG Growth has been one of the most active investors in healthcare in India and South Asia in the last five years. So far they have invested close to $400 million across a variety of segments, including medical technology, delivery, life sciences, and pharmaceuticals.

The AHH platform, which is funded by TPG Growth, helps power multiple single specialty healthcare delivery companies through a single management team.

“Nova is well positioned to be a leader in IVF & fertility care with its best-in-class clinical capabilities and brand pull among clinician and patient community. This acquisition strengthens our thesis of establishing AHH as a leader in building a scaled, transformative and integrated single specialty healthcare platform,” said Ankur Thadani, TPG.

TPG has partnered with Vishal Bali at AHH to build a market leading franchise in single specialties across India and South Asia. AHH currently runs a network of 13 oncology hospitals under the name of American Oncology Institute (AOI), a network of 12 Women & Children hospitals under the Motherhood brand and Ampath, a network of Pathology Diagnostics labs.

“We believe Women healthcare consumers need one destination of care and that gets well served through our service offerings of Motherhood Hospitals & Nova Fertility” said Vishal Bali, Executive Chairman, AHH.

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First Published on May 2, 2019 08:31 pm
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