Oasis Centre for Reproductive Medicine in South India has raised $50 million (almost Rs 400 crore) in an equity round of financing from domestic private equity vehicle Kedaara Capital.
Oasis, which was founded in 2009 by Durga G. Rao and Kiran Gadela, had five centres in Andhra Pradesh and Telangana at the time of InvAscent’s investment in 2016. Currently, the firm operates a network of 26 clinics across 16 cities, primarily in southern India. It has also expanded to eastern and western India such as Bhubaneshwar, Ranchi and Pune.
India’s IVF market is extremely fragmented, with a small number of foreign enterprises as well as domestic businesses providing services. In addition to Nova, Bourn Hall India is a division of the UK-based provider of healthcare services, Bourn Hall International. TVM Capital MENA, a private equity business, supports Bourn Hall India.
The US-based private equity company TA Associates purchased a sizable minority share in Indira IVF Hospital Pvt. Ltd. in April 2019.