(Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

TPG’s Asia Healthcare agrees to buy Nova IVI

  • The acquisition of Nova will help AHH create the largest healthcare platform in India focused on the mother and child
  • Nova Fertility operates India’s second largest network of 20 IVF (in-vitro fertilization) centres in 15 cities

MUMBAI: Asia Healthcare Holdings (AHH), a platform founded by TPG Growth, on Thursday said that it has agreed to buy Nova IVI Fertility, an infertility treatment provider.

Nova Fertility operates India’s second-largest network of in-vitro fertilization (IVF) centres with 20 facilities across 15 cities.

It performs more than 10,000 IVF treatments annually with 60 IVF and gynaecology specialists and 50 embryologists. AHH operates 12 hospitals across India for women and children under the Motherhood brand.

The acquisition of Nova will help AHH create the largest healthcare platform in India focused on the mother and child, TPG said.

The platform would aim to power multiple single speciality healthcare delivery companies through a single management team.

“TPG and AHH are the leaders when it comes to creating innovative healthcare models and investments in India. 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, chief executive at Nova Fertility, which was formed in 2011 when Nova Pulse IVF, a division of Nova Medical Centers, entered into a technical partnership with IVI, a Spanish chain of IVF clinics.

The AHH team will leverage its experience of growing the Motherhood network and will work alongside Nova Fertility team to build operating synergies and scale the network in the region, TPG said.

“Nova is well positioned to be a leader in IVF and 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 speciality healthcare platform" said Ankur Thadani, a senior executive at TPG.

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

“Nova offers a unique set of capabilities that fit well alongside our existing portfolio and we look forward to bring our experience to bear as we continue to grow Nova’s footprint and enhance its operations. 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 at AHH.

Apart from the Motherhood brand, AHH also operates a network of 13 oncology hospitals under the name of American Oncology Institute, and Ampath, a network of pathology diagnostics labs.

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