M&A
Fertility clinics chain Nova acquires Gujarat's Wings IVF for Rs.140-Cr
Bengaluru-headquartered fertility clinics chain Nova IVF has acquired Ahmedabad-based Wings IVF with six centres in Gujarat. The deal is valued at INR 125-140 crore. With this acquisition, Nova will expand its footprint to 68 centres in 44 cities. Wings IVF was launched in 2014 and set up centres in Gujarat, Rajasthan, Bihar, and Delhi. The enterprise specializes in treating couples with recurrent implantation failures and claims to have achieved 20,000 live births through IVF pregnancies. Wings is expected to achieve a revenue of INR 70 crore and Ebitda of INR 12 crore in FY24. TPG Growth, the growth equity investment arm of TPG Capital, owns Nova IVF through its healthcare platform Asia Healthcare Holdings (AHH). Singapore's GIC is another investor in AHH.
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