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Aus fertility clinics welcome investment
An Asian consortium has acquired a majority stake in an Australian fertility clinic business.
Tom Lodewyke
Firms: HopgoodGanim Lawyers (City Fertility Centre); Ashurst (CHA Healthcare and Singapore Medical Group)
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Deal: CHA Healthcare and Singapore Medical Group acquired a 65 per cent stake in City Fertility Centre.
Value: Undisclosed
Area: M&A
Key players: The HopgoodGanim team advising City Fertility Centre was led by partner Luke Mountford (pictured above), with support from over 15 lawyers in the firm’s Brisbane office.
The Ashurst team advising CHA Healthcare and Singapore Medical Group was led by partner Nigel Deed, assisted by partners Jennie Mansfield, Tim Brookes, Anita Cade and Kenneth Tang.
Deal significance: City Fertility Centre is a fertility clinic business with offices in Brisbane, Sydney, Melbourne and Adelaide.
It offers a range of fertility services and has been in operation for over 10 years, according to its website.
A consortium comprising Singapore Medical Group and South Korean women’s health business CHA Healthcare acquired a 65 per cent stake in City Fertility Centre in a deal that was closed on 31 January.
City Fertility Centre CEO and scientific director Adnan Catakovic said in a statement that the investment would support the company’s growth in Australia.
“Through working with CHA/SMG, we will gain access to their globally renowned medical, operational, and research and development expertise,” he said.
“I am pleased about the opportunity to bring their world-class best practices and expertise to further enhance City Fertility Centre’s laboratories, research and clinical operations.
“However, our core focus will always remain strongly on our patients through our caring approach, personalised treatment together with continuous improvement of systems and processes to ensure the best pregnancy and live birth outcomes.”
HopgoodGanim lead partner Luke Mountford said the deal was a milestone for City Fertility Centre.
“We’ve enjoyed working with City Fertility Centre as their legal advisers over the past 10 years, helping the business to grow from one owned by a handful of doctors to one that now has 18 shareholders who are actively involved in the business, as well as two major international healthcare partners,” he said.
Pictured above: HopgoodGanim lead partner Luke Mountford
