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Economic Times
8 hours ago
- Business
- Economic Times
KKR-backed IVI to buy ART Fertility Clinics for $450 million
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel KKR-backed IVI RMA Global, a US-based leader in infertility treatment, is set to acquire ART Fertility Clinics for $400-450 million, according to people familiar with the matter. The acquisition marks a significant step in IVI RMA's global expansion, adding India to its presence in over 15 countries and more than 190 clinical offices across the US, Europe and Latin parties are in the final stages of documentation for a shareholders' agreement and are hoping to wrap up the transaction by June with private hospitals, the IVF industry in India too is witnessing consolidation as several private equity funds have been aggressive with acquisitions. In 2023, Swedish fund EQT Partners acquired a significant majority stake in Indira IVF, the largest provider of fertility services in India and top five globally in terms of annual IVF cycles, at a $1.1 billion ('9,000 crore) Fertility Clinics began in 2015 as IVI Middle East, an international arm of IVI RMA Global. In 2020, IVI RMA divested the business to Gulf Capital, which rebranded it as ART Fertility Clinics. Since then, the brand has rapidly grown, expanding across West Asia and clinics in Abu Dhabi, Dubai and Al Ain in the UAE as well as 11 centres across India, ART Fertility has established itself as a high-performance network in reproductive medicine. The Indian expansion began in 2021, backed by a $30 million investment from Gulf Fertility operates in big Indian cities including Mumbai, Noida, Ahmedabad, Chennai, Hyderabad, Gurgaon and by Suresh Soni, former co-founder and CEO of Nova IVF Fertility, ART Fertility reports a pregnancy success rate of 70% and has recorded over 5,000 successful pregnancies in under nine to sources, ART Fertility posted revenue of $100-120 million in FY25, with an estimated Ebitda of $35 million."For an Indian healthcare player, a $25-35 million ebitda which is borderline ebitda positive coming from the Middle East would add no value," said a fund manager at a Mumbai-based private equity firm that operates a pan-India IVF chain. "However, IVI being a US player where multiples are low, adding a Middle East business works well."IVI RMA trumped a rival bid by Temasek-backed Cloudnine Hospitals.A KKR spokesperson declined to comment. IVI RMA and ART Fertility did not respond to is the advisor in the is rapidly emerging as one of the world's fastest-growing markets for Assisted Reproductive Technology (ART). However, the sector has scope for expansion at 210 IVF cycles per million people, compared with 1,200 in the US and over 2,000 in affects approximately 15% of Indian couples, a figure expected to rise due to lifestyle factors such as poor diet, stress, late marriages, and to EY, India's IVF market is expected to grow from $793 million in 2020 to $1.45 billion by 2027, at a projected CAGR of 15-20%.India sees around 300,000 IVF cycles annually, with projections suggesting this could grow to 500,000-600,000 cycles by 2030. About 30% of the market is controlled by 10-15 organised players, while the remaining is fragmented among smaller, unorganised clinics. Key players in India's fertility sector include Indira IVF, Nova IVF, Oasis IVF, Bloom Fertility Centre, Bengaluru-based Milann, Morpheus IVF, Ridge IVF, Akanksha IVF and Bourn Hall IVF, the second largest player in India, is owned by Asia Healthcare Holdings (AHH), the single specialty hospitals platform backed by GIC and homegrown PE fund Kedaara Capital owns a minority stake in Oasis Fertility, while Brussels-based fund Verlinvest owns a controlling stake in Ferty9 F, a premier chain of fertility clinics in the AP/Telangana region.
Time of India
9 hours ago
- Business
- Time of India
KKR-backed IVI to buy ART Fertility Clinics for $450 million
KKR-backed IVI RMA Global, a US-based leader in infertility treatment, is set to acquire ART Fertility Clinics for $400-450 million, according to people familiar with the matter. The acquisition marks a significant step in IVI RMA's global expansion, adding India to its presence in over 15 countries and more than 190 clinical offices across the US, Europe and Latin America. Both parties are in the final stages of documentation for a shareholders' agreement and are hoping to wrap up the transaction by June end. As with private hospitals, the IVF industry in India too is witnessing consolidation as several private equity funds have been aggressive with acquisitions. In 2023, Swedish fund EQT Partners acquired a significant majority stake in Indira IVF, the largest provider of fertility services in India and top five globally in terms of annual IVF cycles, at a $1.1 billion ('9,000 crore) valuation. ART Fertility Clinics began in 2015 as IVI Middle East, an international arm of IVI RMA Global. In 2020, IVI RMA divested the business to Gulf Capital, which rebranded it as ART Fertility Clinics. Since then, the brand has rapidly grown, expanding across West Asia and India. Live Events With clinics in Abu Dhabi, Dubai and Al Ain in the UAE as well as 11 centres across India, ART Fertility has established itself as a high-performance network in reproductive medicine. The Indian expansion began in 2021, backed by a $30 million investment from Gulf Capital. ART Fertility operates in big Indian cities including Mumbai, Noida, Ahmedabad, Chennai, Hyderabad, Gurgaon and Faridabad. Led by Suresh Soni, former co-founder and CEO of Nova IVF Fertility, ART Fertility reports a pregnancy success rate of 70% and has recorded over 5,000 successful pregnancies in under nine years. According to sources, ART Fertility posted revenue of $100-120 million in FY25, with an estimated Ebitda of $35 million. "For an Indian healthcare player, a $25-35 million ebitda which is borderline ebitda positive coming from the Middle East would add no value," said a fund manager at a Mumbai-based private equity firm that operates a pan-India IVF chain. "However, IVI being a US player where multiples are low, adding a Middle East business works well." IVI RMA trumped a rival bid by Temasek-backed Cloudnine Hospitals. A KKR spokesperson declined to comment. IVI RMA and ART Fertility did not respond to queries. Moelis is the advisor in the transaction. India is rapidly emerging as one of the world's fastest-growing markets for Assisted Reproductive Technology (ART). However, the sector has scope for expansion at 210 IVF cycles per million people, compared with 1,200 in the US and over 2,000 in Europe. Infertility affects approximately 15% of Indian couples, a figure expected to rise due to lifestyle factors such as poor diet, stress, late marriages, and pollution. According to EY, India's IVF market is expected to grow from $793 million in 2020 to $1.45 billion by 2027, at a projected CAGR of 15-20%. India sees around 300,000 IVF cycles annually, with projections suggesting this could grow to 500,000-600,000 cycles by 2030. About 30% of the market is controlled by 10-15 organised players, while the remaining is fragmented among smaller, unorganised clinics. Key players in India's fertility sector include Indira IVF, Nova IVF, Oasis IVF, Bloom Fertility Centre, Bengaluru-based Milann, Morpheus IVF, Ridge IVF, Akanksha IVF and Bourn Hall Clinic. Nova IVF, the second largest player in India, is owned by Asia Healthcare Holdings (AHH), the single specialty hospitals platform backed by GIC and TPG. Similarly, homegrown PE fund Kedaara Capital owns a minority stake in Oasis Fertility, while Brussels-based fund Verlinvest owns a controlling stake in Ferty9 F, a premier chain of fertility clinics in the AP/Telangana region.
Business Wire
25-04-2025
- Health
- Business Wire
PwC Strategy& Releases Report at IVI RMA Congress Showing Potential of Assisted Reproductive Technology to Mitigate Economic Impact of Demographic Changes in the U.S.
BASKING RIDGE, N.J.--(BUSINESS WIRE)--At the 11 th International IVI RMA Congress, hosted by IVI RMA, the world's leading reproductive medicine group with 200+ Assisted Reproductive Technology (ART) clinics in 15 countries and 22 labs across North America, PwC Strategy& released a report that analyzes the impact of aging populations and sustained low birth rates on economic and social dynamics in the United States and other countries. With fertility rates well below replacement levels and the average age of first-time parents rising, the report, ' Shaping the Future: Socioeconomic Challenges and Opportunities in Aging Societies,' points to fertility medicine as a key lever for supporting social and economic sustainability. The report shows that 26 U.S. states could register negative GDP per capita growth as early as 2050, with cumulative impact reaching $162.3 billion between 2050 and 2100. In the U.S., just three percent of births currently result from ART, which encompasses a range of techniques including vitro fertilization (IVF). However, the U.S. could boost annual births by nearly 290,000 and delay population decline by nearly a decade if it aligned its ART utilization levels comparable with other countries such as Spain, where 11 percent of births occur as a result of reproductive medicine. 'Reproductive medicine is no longer just a clinical discipline—it is a matter of social and demographic resilience and an essential demographic tool to reverse the decline in the birth rate,' said Prof. Antonio Pellicer, Executive Chairman of IVI RMA Global. 'It is essential for public policies to incorporate fertility as a strategic priority, guaranteeing safe and agile access to reproductive medicine and promoting awareness and reproductive health education, to ensure future economic sustainability.' More than 1,400 experts in fertility and related disciplines from over 58 countries are currently being hosted by IVI RMA at the 11 th International Congress to learn about the latest scientific advances, clinical innovations, and emerging lines of research in reproductive medicine. Key U.S. takeaways from the report: Annual population growth is expected to decline significantly from 2 million in 2023 to 500,000 in 2100, leading to reduced economic growth and increased pressure on healthcare systems and pensions At 1.6 children per woman, fertility rates fall short of the 2.1 replacement level Since 1990, the average age of women at the birth of their first child has risen from 24 to 27, which will continue to put pressure on fertility rates as female fertility drops sharply with age By 2050, public expenditure on pensions and public health will rise by $751 billion (+3.8 percentage points of GDP), stressing the financial system 'As the age of maternity and paternity is delayed, assisted reproductive techniques become essential to reverse negative demographic trends, and enable more people to become parents in a changing society,' added Javier Sanchez Prieto, CEO of IVI RMA Global. 'As a pioneer and leader in fertility medicine, IVI RMA is committed to delivering innovations that increase the safety, accessibility and success of assisted reproductive technology to help solve this global challenge.' About IVI RMA With more than 5,100 people across 200+ ART clinics in 15 countries, IVI RMA is the world's largest fertility-focused medical group, combining scientific leadership, proprietary technology, and a human-centered care model. The group sees more than 115,000 patients per year, performing 180,000 annual treatments. With over 1,800 scientific publications, IVI RMA has shaped many of the key breakthroughs in reproductive medicine over the past 25 years. IVI RMA North America, comprising Reproductive Medicine Associates (CA, CO, FL, NJ, PA, TX, WA), Boston IVF, and Toronto-based TRIO, spans 22 IVF laboratories and has helped women achieve pregnancies which have led to the birth of over 220,000 babies to date. Pioneers in innovative care, including PGT-A, single embryo transfer, fertility preservation, LGBTQ+ care, and more, the network has published over 1,000 papers which have pushed the fertility industry forward. Learn more at and
