Equity fund throws its support behind fertility health company and backs it to achieve strategic growth
Persistence Capital Partners, a private equity fund focused exclusively on investing in high-growth opportunities in Canadian healthcare, has joined forces with Anova Fertility & Reproductive Health to provide the capital it needs to grow.
Founded three years ago by Dr Marjorie Dixon, CEO, Anova boasts a state-of-the-art embryology laboratory and a clinic inspired by her desire to improve the patient experience and humanize treatment in fertility care.
PCP will work closely with Anova's management team on a number of strategic initiatives to support future growth, including opening new clinics, pursuing investment and partnership opportunities, creating a collaborative and "cutting edge" environment for physicians and other healthcare practitioners, and investing in the best global technologies and techniques to help Canadians grow their families.
"We believe Anova has an exciting growth trajectory ahead and we look forward to working with Dr Dixon, and her team, to build a leading company in this dynamic market with growth coming from increased awareness, improved technology, improved success rates, and the rising prevalence of infertility in Canadians," said Adrianna Czornyj, partner at PCP.
"Anova has the most sophisticated and proficient lab and the highest patient success rates we've seen in Canada. Our investment is a recognition of the hard work and dedication of the Anova team over the past three years, led by an entrepreneurial physician CEO with a compelling vision for patient care across Canada. We look forward to helping Anova expand its footprint to help more Canadians access patient-centric fertility and reproductive care. I am proud to be working with an organization dedicated to women's health and helping families."
Dr Dixon said this was an exciting time for Anova and believes it has found the perfect partner.
She said: “Assisted fertility can be stressful and disarming. Since day one, we strived to elevate the patient experience by creating a humanizing and caring environment. Now, on the birthday of our clinic's opening, we've received an injection of growth capital to take Anova to the next level.
“PCP is an ideal partner for us. They have been investing in, running, and growing healthcare businesses in Canada for more than 30 years. PCP understands our mission and vision, and they share similar values, including our strong focus on quality and patient care. We endeavoured to achieve what was previously deemed impossible in our industry. This culminated in a clinic with a stellar team whose mission was to bring that dream and vision to fruition."