TA Associates has completed a growth equity investment in CCRM, a provider of fertility treatment services.
“Partnering with TA Associates is critical to our plan to expand our footprint in North America and around the world,” said Jon Pardew, CCRM’s President and Chief Executive Officer. “With TA’s support, we will continue to broaden our network of fertility laboratories. In addition, the highly fragmented US IVF market, with approximately 500 clinics, presents possible future add-on opportunities for CCRM.”
CCRM operates a network of fertility clinics providing a variety of treatments from basic infertility care to advanced in vitro fertilization (IVF). The CCRM network includes the Colorado Center for Reproductive Medicine, founded in 1987 by Dr. William Schoolcraft, as well as other partnerships and locations in California, Colorado, Minnesota, Texas and Toronto. The company is headquartered south of Denver in Lone Tree, CO (www.ccrmivf.com).
“CCRM has proven excellence in pregnancy success rates,” said Jennifer Mulloy, a Managing Director at TA Associates who will join the CCRM Board of Directors. “We believe this success is due to high quality physician partners, extensive research and development efforts, and the company’s resulting best practices in the laboratory.”
TA makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. Since founding in 1968, TA has invested in over 450 companies and has raised more than $18 billion in capital. The firm has offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).
According to Ethan Liebermann, a Senior Vice President at TA Associates, trends in the fertility treatment sector supports TA investment. “Marketdata Enterprises estimates annual expenditures related to fertility treatment in the United States at $4 billion, and the Centers for Disease Control estimates that approximately 12% of women of reproductive age in the United States, or five to six million, engage in infertility-related medical appointments each year,” said Mr. Liebermann. “These figures reflect the marked trend over the last several decades of women seeking to have children later in life. We are confident that given these industry dynamics, and CCRM’s superior clinical outcomes, the company will see continued growth.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-4-15
