India News Break

Fertility Center Indira IVF Purchased by Hong Kong Company for Rs. 5,400 Cr.

<p>The Times Of India reported that Hong Kong-based investment company BPEA EQT would pay Rs 5,400 crore ($656.6 million) for a 60% interest in reproductive services provider Indira IVF.<img decoding=”async” class=”alignnone wp-image-102943″ src=”” alt=”” width=”1485″ height=”1112″ srcset=” 259w,×112.jpg 150w” sizes=”(max-width: 1485px) 100vw, 1485px” /></p>
<p>The sources said that the acquisition valued the fertility service provider firm at Rs 9,000 crore ($1.1 billion). Around 115 facilities are operated by Indira IVF around the nation.</p>
<p>BPEA EQT’s parent organization, Sweden EQT, said that the fund would acquire the share from TA Associates, a private equity firm, and the founders of Indira IVF, who would keep a minority ownership and continue to run the business. The parent company’s announcement omitted any information on the stake amount or deal value.</p>
<p>The three founders of Indira IVF, Ajay Murdia, Kshitiz Murdia, and Nitiz Murdia, will continue to own a sizable minority interest and run the business. With the purchase, private equity firm TA Associates, which originally acquired a minority position in the business in 2019 for an unknown value, will leave the business.</p>
<p>Better healthcare facilities are needed in the post-pandemic world, luring foreign investors to invest in the nation’s healthcare networks. At least nine of these chains are reportedly in negotiations to sell holdings.</p>
<p>According to Ashish Agrawal, partner at BPEA EQT, “We see strong potential in further extending India IVF’s presence across India and entering adjacent markets while continuing to invest in its R&D capabilities and technology, drawing on EQT’s in-house expertise within healthcare and digitalization.”</p>
<p>“This investment aligns with EQT’s commitment to investing in companies that address critical societal needs and have the potential to improve people’s lives,” said Jimmy Mahtani, partner and co-head of BPEA EQT India.</p>
<p>According to a Livemint article, Price Waterhouse & Co. LLP (operational DD), Lincoln International, JSA (legal), Deloitte (finance and tax DD, structuring, ESG), and Awelin (digital) provided advice to BPEA EQT. The selling stockholders received advice from JP Morgan and Goldman Sachs.</p>
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