US Fertility and Ovation Combine to Create IVF Services Powerhouse, Increasing Access to Fertility Services
The combined corporate entity provides advanced fertility care through 90+ locations and 28 laboratories.
LOS ANGELES, May 23, 2023 /PRNewswire/ -- US Fertility, the United States' largest partnership of physician-owned fertility practices, announced today it has joined forces with Ovation Fertility ("Ovation"). The two companies signed a definitive agreement on March 31, 2023, and have since completed a successful federal regulatory evaluation process, creating the leading fertility platform in the U.S.
Together, US Fertility and Ovation provide advanced fertility care through 90+ locations and 28 laboratories. With more than 170 reproductive endocrinologists and four reproductive endocrinology and infertility (REI) fellowship programs, the network performs more than 27,000+ retrievals a year and has helped more than 200,000 individuals and couples build their families through assisted reproductive technology.
Together, US Fertility will represent the world's premier reproductive medicine practices, embryology laboratories, and a suite of life science services that include diagnostic testing, genetic testing, pharmaceuticals, frozen donor services, surrogacy, cryogenic storage, and data science that patients depend on along their journey to parenthood. The new combined entity is well-positioned for continued growth and expansion by leveraging best practices to improve patient access, experience, and outcomes.
"It is thanks to the remarkable work of the entire Ovation team and the direction of transitioning CEO Paul Kappelman that this historic event can take place. Under Paul's leadership, Ovation has been able to serve more hopeful parents during a time in their lives that is met with great uncertainty. I am committed to the continued growth of Ovation Fertility and am sincerely grateful to Paul for his dedication to the company during his tenure," said Richard Jennings, US Fertility CEO.
US Fertility will continue to operate as a management service organization (MSO) and offer practice management solutions to fertility practices across the U.S. Ovation Fertility will continue to operate as a laboratory management service organization and offer laboratory management solutions to fertility practices across the U.S. Ovation will continue operating under its unique physician partnership model to offer its IVF laboratory and ancillary services as a wholly owned subsidiary of US Fertility.
"We are very pleased to be able to combine forces with US Fertility," said Conor Beardsley, Ovation's President. "The commonalities in the missions of our two companies cannot be overstated. Both companies share a strong commitment to creating the best possible outcomes for patients through state-of-the-art fertility care. I am confident that this will be an incredibly positive union."
"I am delighted that US Fertility and Ovation both are focused on delivering outstanding outcomes for their patients," said Kaylen Silverberg, M.D., Ovation Partner Physician and Board Member. "Both entities are committed to maintaining a strong and vibrant culture that fosters growth and professional development for their more than 2,700 physicians, embryologists, nurses, geneticists, and clinical and administrative team members."
"Our physicians and scientists are leaders in their pursuit of clinical excellence. We inspire and support each other to achieve scientific excellence through industry collaborations, strategic partnerships, and clinical research. I am proud to know that US Fertility is equally devoted to advancing science as it is to advancing its footprint," said Jaime Shamonki, M.D., US Fertility COO.
"We are pleased to have a capital structure that positions us well to continue USF's continued strategic growth investments. We've received strong support from our credit partners who helped facilitate the transaction and can further support us in the future. In conjunction with our equity sponsor, Amulet Capital, we have a strong capital base, with deep healthcare experience that will allow us to maximize value creation opportunities for our stakeholders, while advancing our mission of helping more families," said Joshua Saipe, US Fertility CFO.
Terms of the transaction were not disclosed.
About US Fertility
US Fertility, the nation's largest partnership of physician-owned and physician-led top-tier fertility practices, is united under a shared mission: to drive innovation and leverage best practices both to enhance the patient experience and improve treatment outcomes. To date, US Fertility/Ovation has helped more than 200,000 individuals and couples build their families through their fertility services. Our collective clinical and operational expertise provides our fertility partner practices with advanced business and digital solutions that streamline and enhance the delivery of exceptional patient care. https://www.usfertility.com
About Ovation Fertility
Ovation® Fertility is a national network of laboratories providing leading-edge treatment through leading reproductive experts. Ovation's IVF and genetics laboratories, along with affiliated physician practices, work collaboratively to raise the bar for IVF treatment, with state-of-the-art, evidence-based fertility services that give hopeful parents the best chance for a successful pregnancy. Physicians partner with Ovation to offer their patients preimplantation genetic testing, frozen donor services, surrogacy services, and secure storage for frozen biomaterials. https://www.ovationfertility.com
About Amulet Capital
Amulet Capital Partners is a middle-market private equity investment firm that focuses exclusively on creating long-term value for market leaders in the healthcare sector. The experienced principals at Amulet currently manage over $1.7 billion in healthcare investments. With over 50 years of deep industry experience and strategic relationships, Amulet helps solve complex and dynamic challenges in a wide range of healthcare segments. https://amuletcapital.com
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US Fertility
Jon Keehner / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
SOURCE US Fertility
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