Canadian millions help fast track expansion of Bourn Hall fertility capacity
A new wave of UK and global expansion for fertility treatments has been triggered by multimillion dollar investment in Cambridge pathfinder Bourn Hall.
The money has come from Triangle Healthcare Partners, a Canadian-based investment firm, in partnership with Bulldog Capital Partners in Toronto.
As global demand for fertility treatment grows by an expected rate of 8.9 per cent annually, Bourn Hall will use the investment to expand its capacity domestically and abroad.
Bourn Hall has a network of IVF fertility clinics across the East of England; it was the world’s first IVF clinic founded more than 40 years ago by IVF pioneers Steptoe, Edwards and Purdy following their breakthrough with the first ‘test-tube’ baby Louise Brown, who was born in 1978. Since then, over eight million IVF babies have been born worldwide.
Building on its pioneering foundations, Bourn Hall has developed a patient-centred approach to fertility health and treatment, increasing the chances of early conception.
Bourn Hall works closely with the NHS to increase success rates for NHS-funded IVF treatment across Bedfordshire, Essex, Norfolk, Hertfordshire and Suffolk. Demand for fertility treatment is increasing.
The existing directors and experienced senior management team led by chief executive Dr Mike Macnamee will remain in their same roles and Andrew Clark, partner at Triangle Capital Corporation, will become chairman of Bourn Hall.
Clark said: “We regard Bourn Hall as the world’s leading IVF brand. We admire its services and were attracted to the priority its team places on patient care and experience.
“We look forward to working with Mike and his senior leadership team on ways to maximise and expand the Bourn Hall brand and services. Our ambition is to work with Bourn Hall to develop strategic partnerships, exploring acquisitions and growth opportunities both in the UK and overseas.”
Dr Macnamee added: “Our approach to fertility treatment is based on forty years of expertise and continuing investment in our people and evidence-based treatments.
“We have established a network of clinics that offer patients personalised treatment programmes, with excellent success rates, close to where they live. With the support of Triangle, we see the opportunity to expand our service and make it available to more patients in the UK and abroad.”
Bourn Hall treats over 3,500 self-funding and NHS funded patients each year from its clinics in Cambridgeshire, Essex and Norfolk. The pandemic has created challenges for healthcare services but also the opportunity to rethink the way that services are offered.
Bourn Hall has responded by offering new virtual services that enable patients’ flexibility to fit treatment around other commitments.
Dr Macnamee said: “2020 saw us respond successfully to unprecedented circumstances. We have evolved our services and approach to maintain success rates while reducing face-to-face interactions.
“This includes introducing virtual consultations and events, and moving services online, such as fertility support. Patient consents are now online, supported by educational resources, and social media is used more widely to provide updates.
“Triangle’s investment will support our continued success and provide opportunities for growth and further development. The directors and I are all looking forward to working with the new board.”
Mobeus Equity Partners, who have been a minority shareholder since 2013, will be exiting their investment through this transaction.
Bourn Hall was advised in the deal by Grant Thornton, Mills & Reeve and PEM.