The acquisition expands Nova IVF Fertility’s footprint to 68 centers across 44 cities
National: AHH-owned Nova IVF Fertility, one of the largest fertility chains across India has acquired WINGS IVF which is one of the leading regional IVF chains in the country based out of Ahmedabad and founded by Dr Jayesh Amin, amongst the most respected IVF specialists in the country. WINGS IVF has 6 centres with dominating presence in Gujarat. With this acquisition, Nova IVF Fertility will expand its footprint to 68 centers in 44 cities aiming to be the leading provider of IVF services across South Asia. Nova IVF Fertility has grown exponentially since its investment by Asia Healthcare Holdings in 2019 to become one of the largest and fastest-growing IVF chains in the region.
WINGS IVF was launched in 2014 and since then has established its centres in Gujarat, Rajasthan, Bihar, and Delhi. The enterprise specializes in treating couples with recurrent implantation failures and has achieved 20,000+ live births through IVF pregnancies.
Commenting on the partnership, Shobhit Agarwal, CEO, of Nova IVF Fertility said, “The ethos of WINGS IVF and Nova IVF Fertility is deeply embedded in clinical science and providing international standards fertility treatments. Both the organisations have an inherent DNA for enabling couples to achieve pregnancies through the self-cycle technique. With the launch of the ART Act this focus has only increased and today 90% of our IVF cycles are through self-cycles. We are delighted to welcome WINGS IVF to the Nova IVF Fertility family.
“One in every six Indian couples struggles with infertility. Nova IVF Fertility echoes our belief in bringing the science of parenthood to the forefront by helping couples have their baby through their own eggs and sperm. Both the fertility chains have a stringent focus on ensuring the highest form of ethical standards and have been the early adopters of the day 5 embryo transfer movement in India displaying significant improvement in success rates in complex cases. With this partnership, we aim to bring in advanced newer technologies like Regenerative therapy which can help couples reduce their dependency on donor eggs said Dr Jayesh Amin, Founder & Director of WINGS IVF”. Dr. Amin has been in the field of IVF for over 18 years and is a recipient of the “Excellence in IVF Treatments” award by the Union Health Minister in 2016. He is also the Additional Secretary of the Indian Fertility Society.
Nova IVF Fertility has achieved over 55,000 pregnancies across 1,10,000 couples performing close to 15,000 cycles each year. The company has added 43 centres in the last three years.
As per data from Venture Intelligence, since 2018, the fertility sector has already attracted $318 million in investments from leading private equity (PE) and Venture Capitalists (VCs). India’s IVF services market was valued at $750mn in 2020 and is poised to grow to $3.7bn by 2030.
“The IVF services market in India is powered by two national chains and multiple regional chains. We see the forces of consolidation beginning to shape the sector and in that context, Nova IVF Fertility and WINGS IVF coming together gives us an opportunity to strengthen our position in the North & West of the country” said Ritesh Pandey, Group CFO & Head BD at Asia Healthcare Holdings.
Spark Capital is the advisor to the transaction.