Oasis Centre, one of the leading chain of in-vitro fertilisation(IVF) centres, has today announced that India Life Sciences Fund II has invested $6.2 million in the company. India Life Sciences Fund II focuses on growth capital in the Indian healthcare sector.
With the investment of $6.2 million, the fund has acquired a significant minority stake in the Hyderabad-based company. The proceeds of this funding round will be used to expand its chain of IVF centres, apart from exploring acquisition opportunities.
The company has not revealed the equity stake picked up by India Life Sciences. Also, the valuation at which the latest funding round was raised by the company remains undisclosed.
As per Kiran Gadela, MD of the company, the funding will also be used to procure most advanced reproductive technologies and equipment to offer unique infertility treatments, which very few centres offer globally at present.
Oasis Centre, healthcare services startup, was founded by Durga G Rao and Kiran Gadela. Commenting about this funding round, Kiran Gadela, MD of Oasis Centre, said,
This company has be en growing on initial equity investments by founders and internal accruals all these years. This is the first round of institutional investment in the form of growth capital.
Currently, five IVF centres of the company are spread across Andhra Pradesh and Telangana. The company is now looking forward to deploy the proceeds to set up at least 20 more centres over the next five years in South India.
The company says that its expert team is adept in addressing any type of fertility needs and is offering efficient and evidence based fertility treatments such as IUI, IVF, IVM, PGS, Surrogacy etc.
India Life Science Fund II had made several investments in the space of pharma, medical devices and healthcare services. It has invested in cancer care network of HealthCare Global Enterprises, Gland Pharma, and eye care chain of Dr Agarwal’s Healthcare, among others.