New Delhi: Asia Healthcare Holdings (AHH), an operating and investment platform founded by TPG Growth, the global middle market and growth equity platform of TPG, announced it has all set to acquire Nova IVI Fertility, one of the largest operators of fertility clinics in India, in a deal said to be worth of $100 Million
Nova IVI Fertility, backed by Goldman Sachs, New Enterprise Associates and GTI Capital, currently operates 20 centres across the country. Investment bank Lincoln International is handling the transaction, according to the report.
Nova IVI provides assisted-reproductive therapy treatments such as intrauterine insemination (IUI), in vitro fertilisation (IVF) and andrology services.
Earlier Medical Dialogues reported that Asia Healthcare Holdings (AHH) has raised USD 50 million from Sheares Healthcare, an investor and provider of healthcare delivery services. Sheares Healthcare, which is wholly owned by Temasek, a global investment company headquartered in Singapore, works closely with portfolio companies to shape healthcare delivery, primarily in Asia, through innovative, appropriate, and patient-focused care.
Asia Healthcare currently holds TPG Growth’s investments in Rhea Healthcare, which runs a hospital chain under the Motherhood brand, and Cancer Treatment Services International.
AHH will buy stakes from existing private equity investors and promoters including founder Mahesh Reddy, said two people aware of the development told Economic Times