TA Associates, an American private equity firm has obtained a small portion of shares in the Indian IVF firm, Indira IVF Hospitality, confirmed companies to the Indian daily news, VC Circle.
The acquisition amount has not been disclosed by the companies yet. Through this business deal, TA Associates will aid Indira IVF to expand its business nationally as well as internationally.
TA Associates will help Indira IVF grow in India and international markets, both organically and inorganically, Naresh Patwari, a director at TA Associates Advisory, said in a statement.
The PE firm will also help Indira IVF offer additional clinical services, Patwari added.
IVF (in-vitro fertilisation) is a large and fast-growing opportunity in India that we believe has the ability to make a lasting positive impact on the lives of millions of people, Patwari said to the Indian daily news, VC Circle.
Following this deal, Naresh Patwari and Dhiraj Poddar, MD of TA Associates, will join Indira IVFs board as chosen nominees by PE firm, TA Associates.
The infertility treatment space, in particular, IVF, represents a large and growing market, said Dhiraj Poddar.
The Indian IVF centre, Indira IVF was initiated by five people namely, Dr Kshitiz Murdia, Dr Ajay Murdia, Ashish Lodha, Nitiz Murdia and Manish Khatri. The IVF centre has fifty-nine infertility centres in sixteen Indian cities. It has completed 27,000 IVF cycles in a year and has a workforce of 1800 at present.