Sverica Capital Management Announces Investment in In Vitro Sciences
Sverica Capital Management LP (“Sverica”), a private equity investment firm, today announced that on October 1st it made a strategic investment in In Vitro Sciences LLC (“IVS” or the “Company”), which operates a network of fertility clinics in the United States. As part of the transaction, IVS completed a spin-out from Women’s Health USA and has acquired Advanced Fertility Care, a Phoenix, Arizona based fertility clinic.
Based in Avon, CT, IVS is a leading manager of a network of fertility practices. Collectively, IVS practices operate from 17 offices including 4 in-vitro fertilization (“IVF”) labs. IVS clinics perform a full-range of services including more than 5,000 annual IVF cycles, genetic testing, egg and embryo storage. IVS’s clinics continuously produce among the highest success rates for their clients as measured by the Society for Assisted Reproductive Technology (“SART”). IVS centers maintain the highest clinical quality in part from continued partnership with academia, including management of an REI fellowship program together with the University of Connecticut Medical School.
The transaction marks a milestone for IVS, facilitating a national growth strategy including expansion into the Phoenix, Arizona market via a partnership with Advanced Fertility Care (“AFC”). Brian Pskowski, President of IVS commented, saying, “We are excited about entering our next phase of growth and executing a broad national strategy by partnering with the best clinicians in the fertility sector. In Sverica, we have a partner that supports our vision and can provide the necessary resources for us to help patients on their journey to parenthood.”
Dave Finley, Managing Partner at Sverica said, “We are excited to spin-out IVS as a separate platform investment to facilitate it reaching its full potential as an independent company. IVS is a high-quality operation with the opportunity to become a leader within an attractive market.” Gregg Osenkowski, Partner at Sverica added, “IVS has long flown under the radar as one of the best operators of fertility practices in the US. We are excited about partnering with IVS’s management and the exceptionally talented physicians and staff who work to help patients achieve their dreams of starting a family.”