BOSTON, May 9, 2019 /PRNewswire/ -- NMC Health plc, the London Stock Exchange listed healthcare company with international services across 19 countries has acquired a majority stake in Boston IVF, one of the leading providers of fertility services in the United States.
The amalgamation with Boston IVF, one of the most experienced fertility providers in the USA, will serve as a platform for further growth and development of NMC's IVF business in North America. Boston IVF will continue to expand upon its world-class research, reproductive technologies and business development growth nationwide.
Prasanth Manghat, CEO, NMC Health stated that the strategic goal for the NMC's fertility business has been to expand geographic presence by identifying new opportunities in both developed and emerging markets and fill unmet market needs. NMC health ranks amongst the leading fertility services provider in the world with clinics across Spain, Italy, Denmark, Sweden, Latvia, UAE, Oman, Kenya, Colombia and Brazil.
Speaking on the Boston IVF transaction, Prasanth said, "Our solid expertise in Europe, coupled with inhouse resources, operational expertise and research are the right ingredients needed to enter this important market. On the other hand, Boston IVF's reputation for quality, its integrated network of clinics and strong emphasis on R&D mirrors the value proposition of NMC's flagship European subsidiary Clinica Eugin."
NMC's business growth model over the last two years has been a blend of both organic growth as well as acquiring and integrating highly-reputable IVF centers worldwide. "For us, different cultures mean different approaches to fertility. Added to this, regulations vary from country to country. Therefore, our strategy in any country is to identify, incorporate and integrate with the best local fertility providers and nurture and enhance their already proficient skills," said Eduardo Gonzalez, CEO responsible for NMC's IVF European and American operations.
Both in Europe and the Americas, 1 out of 6 couples have trouble conceiving, and these numbers are growing. The United States features among the top regions in the world for assisted reproduction technology accounting for over 200,000 cycles.
"Joining NMC Healthcare allows us to share the latest knowledge and technologies available on both sides of the Atlantic," said Boston IVF President Michael Alper, MD. "More importantly, it will deliver enhanced patient care both locally and nationally via new programs and innovation that improve IVF success rates for our patients."
With more than 90,000 babies born since 1986 and 29 fertility centers across New England, New York, Indiana and Arizona – Boston IVF has numerous industry "firsts" for fertility care – including the first IVF pregnancy in New England and the first egg freezing birth in Massachusetts.
"By bringing together two world-class organizations like Boston IVF and NMC, it reinforces a commitment to high-quality healthcare," said Derek Larkin, JD, MBA and Chief Executive Officer at Boston IVF. "We both share in the mission to expand access to treatments, allocate considerably more resources towards research and development, and provide more comprehensive care programs that deliver an optimal patient experience."
About NMC
NMC the leading private healthcare operator in the GCC with an international network of hospitals across 19 countries. NMC also ranks as one of the top 3 in-vitro fertilisation ("IVF") operators globally. The Group is also a leading provider of long-term medical care in the UAE through its subsidiary ProVita. Pursing an aggressive international expansion program from 2016, NMC has identified the Kingdom of Saudi Arabia (KSA) in particular as a key growth market, where the company has introduced long-term and multi-specialty care services. NMC received over 7.5m patients in 2018. The Group is also a leading UAE supplier of products and consumables across several key market segments, with the major contribution coming from healthcare related products. The Group reported revenues of US$2.1 billion for the year ended 31 December 2018.
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