India Life Sciences Fund II, invests USD 6.2 Million in Oasis Centre for IVF
India Life Sciences Fund II has invested USD 6.2 Million in one of the leading chain of in-vitro fertilisation(IVF) centres called the Oasis Centre. India Life Sciences Fund II focuses on growth capital in the Indian healthcare sector. The fund has gained a significant minority stake in the Hyderabad based company with this fresh investment. The amount raised from this round will be used to expand its chain of IVF centres, as well as explore acquisition opportunities.
Sources say that, Oasis was valued at over Rs 170 crore(or USD25 million) and India Life Sciences has picked up around 24% stake. This howver has not been verified by any of the parties. Oasis Centre founder KIran Gadela said that 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. Kiran Gadela, added:
“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 expand to at least 20 more centres over the next five years in South India. The company claims to be proficient 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. The fund has invested in cancer care network of HealthCare Global Enterprises, Gland Pharma, and eye care chain of Dr Agarwal’s Healthcare, among others.