TVM Capital MENA Brings Nobel Prize Winning IVF Facility to Middle East
UAE, 21 November, 2010: TVM Capital MENA has announced its investment in Bourn Hall International, a move which will bring the world class In-Vitro Fertilization (IVF) concept to the MENA. Based in the UK, Bourn Hall was the world’s first IVF clinic and the deal with TVM Capital marks its first international expansion.
The founders of Bourn Hall are the inventors of IVF, after pioneering the first birth of child conceived using IVF in 1978. Last month it was announced that Bourn Hall founder Dr Bob Edwards has been awarded the 2010 Nobel Prize in Medicine for the invention.
The investment in Bourn Hall International marks the second investment by private equity firm TVM Capital MENA in the last four months; the previous being Pro Vita, the first long-term care and rehabilitation facility for patients requiring ventilator support in the UAE. “Both deals are consistent with TVM Capital MENA’s strategy for involving leading global operators to provide unique and specialized healthcare services in the Middle East” said Dr. Helmut M. Schuehsler, Chairman and CEO of TVM Capital MENA. Bourn Hall is synonymous with IVF on a global scale and pioneered most of the standard treatment protocol procedures adopted worldwide.
In the Middle East Bourn Hall International will operate a network of branded IVF facilities across the region that will operate at the same quality level and operating procedures as the clinic in the UK. The first clinic in the region is due to open in 2011.
TVM Capital is the first global private equity firm with a focus in healthcare and life sciences to establish operations in the MENA. It held the first closing of its shari’a-compliant, MENA focused healthcare private equity fund in February 2010.The Bourn Hall International investment was syndicated with leading regional generalist investors, a testament to TVM Capital’s growing reputation as the forerunning healthcare PE firm in the region.
Marios Fotiadis, Managing Director, TVM Capital MENA said, “We are delighted to announce the completion of our second investment in a short time period since the first closing of our fund earlier this year. This is the first time that Nobel-prize winning medicine has been directly brought to the patient population of the Middle East. We remain enthusiastic about our model of bringing unique, specialized, world-class medical services to the MENA region, and BHI is a transaction that perfectly matches our investment model.”
Dr Mike Macnamee, Chief Executive, Bourn Hall said, “We have been working in close partnership with TVM Capital for the last year for the launch of the first international expansion of Bourn Hall. We are truly pleased to have had the opportunity to match our strong brand and excellent team with the leading health care private equity operator in the MENA region.”