Temasek-backed HealthCare Global Enterprises Ltd (HCG), a cancer care chain headquartered in Bangalore, has acquired majority stake in fertility care provider Bangalore Assisted Conception Centre Pvt Ltd (BACC) for an undisclosed amount.
Founded in 1990 by Dr Kamini Rao, BACC currently operates four fertility centres in Bangalore. Post the acquisition, the new entity will be rebranded to Milann – The Fertility Centre.
“We are delighted to partner with this company, which has contributed immensely to the field of infertility treatment. We will build upon its expertise to establish the nation’s leading fertility care provider,” said Dr BS Ajaikumar, chairman and CEO of HCG.
“We look forward to joining hands with HCG to realise our dream of making the best practices in fertility care available and accessible across India,” said BACC founder Dr Rao.
The investment comes close on the heels of India Value Fund-backed Manipal Health Enterprises investing $7.32 million in Bangalore-based Ankur Healthcare, which also specialises in infertility treatment.
Due to attractive returns on capital, easy scalability and low capital expenditure, single specialty healthcare service companies have seen significant investor interest.
Some of the recent investments include Harmony Medicare raising $7.5 million from India Venture Fund, Thyrocare Technologies securing $22.63 million from Norwest Venture Partners and Nephrocare receiving $37 million from Bessemer Venture Partners.
(Edited by Sanghamitra Mandal)