Anova Fertility & Reproductive Health Primed for Growth Following Partnership with Persistence Capital Partners
PCP recognizes Anova’s leadership in Canadian fertility as Anova celebrates its third anniversary
Healthcare-focused private equity firm Persistence Capital Partners ("PCP") announced a substantial investment in Anova Fertility & Reproductive Health, a female-owned fertility practice that prioritizes social equity and inclusivity. This investment will enable Anova to expand their operations across Ontario, and focus on providing top-of-the-line fertility treatments to women all across Canada.
Founded three years ago to the day by Dr. Marjorie Dixon, Chief Executive Officer, Anova boasts a state-of-the-art embryology laboratory and a clinic inspired by Dr. Dixon’s desire to improve the patient experience and humanize treatment in fertility care. Keeping quality patient care at the forefront, PCP will work closely with Anova’s management team on a number of strategic initiatives to support future growth. These initiatives include, opening new clinics, pursuing investment and partnership opportunities, creating a collaborative and ‘cutting edge’ environment for physicians and other healthcare practitioners, and investing in the best global technologies and techniques to help Canadians grow their families.
“We believe Anova has an exciting growth trajectory ahead and we look forward to working with Dr. Dixon, and her team, to build a leading company in this dynamic market with growth coming from increased awareness, improved technology, improved success rates, and the rising prevalence of infertility in Canadians,” said Adrianna Czornyj, Partner at PCP. “Anova has the most sophisticated and proficient lab and the highest patient success rates we’ve seen in Canada. Our investment is a recognition of the hard work and dedication of the Anova team over the past three years, led by an entrepreneurial physician CEO with a compelling vision for patient care across Canada. We look forward to helping Anova expand its footprint to help more Canadians access patient-centric fertility and reproductive care. I am proud to be working with an organization dedicated to women’s health and helping families.”
“This is a very exciting time for Anova,” added Dr. Dixon. “Assisted fertility can be stressful and disarming. Since day one, we strived to elevate the patient experience by creating a humanizing and caring environment. Now, on the birthday of our clinic’s opening, we’ve received an injection of growth capital to take Anova to the next level. PCP is an ideal partner for us. They have been investing in, running, and growing healthcare businesses in Canada for over 30 years. PCP understands our mission and vision, and they share similar values, including our strong focus on quality and patient care. We endeavored to achieve what was previously deemed impossible in our industry. This culminated in a clinic with a stellar team whose mission was to bring that dream and vision to fruition.”
Stuart M. Elman, Managing Partner at PCP, said, “Investing in and supporting game-changing Canadian healthcare businesses is at the core of what PCP does. We are proud to welcome Anova and its team to the PCP group of portfolio companies. Anova is our second investment in our most recent fund, as we continue to execute on our proven investment strategy.”
About Persistence Capital Partners
Persistence Capital Partners is Canada's leading private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market. PCP has offices in Montreal, Quebec, and Toronto, Ontario.
About Anova Fertility & Reproductive Health
Anova Fertility & Reproductive Health opened in 2016 as a full-service fertility and IVF clinic. Anova is Canada’s first next-generation embryology laboratory, and is the leader in innovation, education, and communication for high quality patient centric fertility and reproductive care. The team at Anova strives to set the international standard for successful reproductive health and fertility centres, committed to making the right to family accessible to everyone. Anova is known for their culture of support, effective processes and their holistic approach to patient care.
Source: Persistence Capital Partners
Spring Fertility (“Spring”), a leading provider of fertility care in Northern California, today announced it has received a significant growth equity investment from Wildcat Capital Management, a New York based family office. Since opening in 2016, Spring has quickly become the premier fertility center in Northern California and one of the fastest growing fertility centers in the country by achieving consistently superior clinical results with high patient satisfaction scores. Spring anticipates using this investment to fuel further scientific innovation and expand access to its care platform in the Bay Area and across North America. Spring currently serves patients from offices in San Francisco, East Bay and Silicon Valley. Advanced procedures are performed in an innovative, state of the art lab which deploys unique, customized technology that more accurately replicates the body’s internal environment in the lab.
“We are proud to partner with Spring as it advances the science of fertility and delivers the highest-quality care possible. Spring’s focus on innovation and their relentless pursuit of improved clinical, lab, and experiential standards uniquely position it as a leader in the fertility sector.”
Spring was founded by Drs. Peter Klatsky and Nam Tran, as they sought to change the experience and outcomes for patients seeking fertility care. Drs. Klatsky and Tran will retain majority ownership post-transaction.
“Wildcat is excited to support the Spring team as they continue to re-invent the patient experience while providing exceptional clinical outcomes,” said Drew Tarlow, Principal at Wildcat Capital Management. “We are proud to partner with Spring as it advances the science of fertility and delivers the highest-quality care possible. Spring’s focus on innovation and their relentless pursuit of improved clinical, lab, and experiential standards uniquely position it as a leader in the fertility sector.”
“After years of directing research at the best academic centers in the country, it’s rewarding to see those innovations quickly translate into patient care,” explains Spring’s Scientific Director Nam Tran, MD, PhD. “We have been able to accomplish several ‘firsts’ in our lab and are excited to use this investment to further develop our scientific research program and continue to innovate novel therapeutic options to help our patients. Our unique egg to embryo environmental controls have reduced attrition by over 25% from fertilization through embryo development. This means a significantly higher chance of success with fewer disappointing outcomes.”
“We exist to help our patients pursue and achieve their goals. Our desire to innovate while improving access and quality aligns with Wildcat’s patient, long-term approach,” said Dr. Peter Klatsky of Spring Fertility. “With Wildcat’s investment, Spring will have the resources to continue expanding access while investing in our clinical and technological capabilities to create a differentiated and superior experience for our patients, employees, and physicians.”
Bass Berry Sims advised Spring Fertility on the transaction, and McDermott Will & Emery, Alvarez & Marsal, Aon, and Avalere advised Wildcat Capital Management.
About Spring Fertility
Spring Fertility was founded by leading physicians with the goal of redefining the reproductive and fertility patient experience to improve comfort, communication and care while advancing scientific excellence. It quickly became the premier fertility platform in Northern California, and one of the country’s fastest growing. The Company was founded in 2016 by Peter Klatsky, MD, MPH and Nam Tran, MD, PhD and provides a broad range of fertility treatments including IVF and egg freezing. Spring’s state-of-the-art fertility lab is located in San Francisco and the company operates patient centers in Oakland and Redwood City.
Source: Spring Fertility