Birla Fertility & IVF, a part of C K Birla Group, on Wednesday said it has forayed into the South Indian market with the acquisition of ARMC IVF Fertility Centre for an undisclosed amount.
Currently, Birla Fertility & IVF operates 30 centres and with the acquisition, it has expanded its presence across Kerala, Karnataka, and Tamil Nadu, by adding seven more centres and taking the total to 37 outlets across the country.
"ARMC IVF and its Founder and Medical Director, Dr KU Kunjimoideen, have served the patients in the southern region with the highest level of fertility care, and through this partnership, we will continue to uphold this commitment," Avanti Birla, Founder, Birla Fertility & IVF, C K Birla Healthcare, said in a statement.
The company plans to expand its footprint to 100 clinics with an investment of over Rs 500 crore over the next-3-4 years.
The growth from 37-100 centres would encompass both organic and inorganic routes and in some cases partnerships as well, Birla Fertility & IVF Chief Business Officer Abhishek Aggarwal said.
"We estimated that to drive this growth, an investment corpus of about Rs 500 crore would be needed," he added.
As per industry estimates, India is home to over 28 million couples facing fertility-related challenges, but less than 1% seek assistance.
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