Nova Medical Centers, the parent company of Nova Specialty Hospitals and Nova IVI Fertility, plans to expand its presence in the Gulf as it aims to open 4-5 fertility clinics in the UAE over the next two years. The company is also looking at the possibility of opening 10 more centers in India in the current fiscal year.
At present, Nova’s presence in the Gulf nations is only through its polyclinic in Muscat, Oman. It is planning to open several IVF clinics in the Middle East in partnership with IVI of Spain.
Nova IVI fertility clinics, formed in partnership with IVI in 2011, has seven operational centers in Bangalore, Delhi, Mumbai, Chennai, Hyderabad, Kolkata and Ahmedabad. It has recently opened another centre in Bangalore with two more likely to come up in Pune and Hyderabad. The fertility institute had undertaken about 5000 cycles of IVF treatments in the fiscal year 2013-14.
“Since inception (in 2011), we had 3,200 cases of successful pregnancies,” said Nova Medical Centers chairman and CEO Suresh Soni.
By a cycle, it means one complete process of IVF treatment, starting from stimulation of oocytes, fertilisation of the ovum with the sperm in the lab to transferring the embryo in the woman. IVF success rates are the percentage of all IVF procedures which result in a favourable outcome. Depending on the type of calculation used, this outcome may represent the number of confirmed pregnancies called the pregnancy rate, or number of live births called the live birth rate.
Each year, around 12-18 million couples in India are diagnosed with infertility, thanks to a growing number of lifestyle-related issues. The average IVF cost for one cycle is around Rs1-1.5 lakh.
Headquartered in Bangalore, Nova also operates 13 specialty surgical centers and encourages a short-stay surgical facility model that may not require a stay of more than 2-3 days. Soni said that around 60% of patients treated in Nova are discharged the same day while only 20-30% has to extend their stay for 2-3 days.
“We encourage doctors to do their short stay surgical cases and OPDs at Nova. Cases that are very complicated should be undertaken at tertiary care hospitals,” said Soni.
The organisation, which was co-founded by shoulder surgeon Mahesh Reddy along with the New York-based private investment firm GTI Group, is a “doctor-owned and doctor-managed” concept. The other shareholders are Goldman Sachs, New Enterprise associates and the Oman-based OMZEST Group.