Bowmark Capital has acquired Care Fertility Group, beating off competition from several private equity firms, in a deal reported to be worth £60m (€75m).
At the start of this month Real Deals reported that Bowmark, Vitruvian Partners and Inflexion Private Equity were bidding for General Healthcare Group’s (GHG) Care Fertility Group.
The deal generated strong interest from the buyout industry as the UK market for fertility services to continues to grow at a significant rate, driven by demographic trends and an increasing acceptance of IVF procedures. This has not gone unnoticed by the asset class as CPBE Capital acquired the Assisted Reproduction & Gynaecology Centre last month.
Following the investment, Care Fertility plans to open new clinics, kicking off with a new facility in Dublin.
Care Fertility was established in 1997 by Simon Fishel, Ken Dowell and Simon Thornton, with an aim to provide fertility services to private and NHS patients. It currently assists around 3,500 conception cycles each year. Other services include genetic diagnosis and associated fertility preservation procedures.
It is understood that GHG sold off its fertility division as it attempts to pay down its net debt, which currently stands at £2.3bn, of which £1.7bn matures next year.