Indira IVF, India’s largest fertility clinic chain, said it is in discussions to acquire multi-centre IVF (in vitro fertilisation) clinics in Tamil Nadu and Kerala, spending between ₹100-200 crore, to strengthen its presence in the South. “We are very strong in North and West… We are looking at a few acquisitions in South, especially in Tamil Nadu and Kerala,” Nitiz Murdia, director and cofounder of Indira IVF, told ET.
“We have discussions going on with a few players,” he said, adding the company plans to close these transactions in the next 4-6 months. Murdia said Indira is also evaluating possibilities of acquiring IVF chains in Europe next year.
The company will make its international foray this year by setting up the first IVF centre in Kathmandu, followed by its entry into Bangladesh. Many people from Nepal and Bangladesh travel to India for IVF treatments.
Murdia said funding for the expansion will not be a problem as the company can use both internal accruals and a possible fundraise if needed. “We are a debt-free and cash-generating company,” he said.
Indira IVF posted revenues of ₹920 crore for 2021-22, and expects to generate ₹1,200 crore this financial year with its operations have normalised after disruptions caused by the Covid-19 pandemic.