Colchester/ Cambridge: Bourn Hall fertility clinc secures £3.5m investment to fund expansion
PUBLISHED: 14:47 05 February 2014 | UPDATED: 14:47 05 February 2014
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Fertility clinic company Bourn Hall has secured a £3.5million minority equity investment to support future expansion.
The clinic, based at Bourn, near Cambridge, was founded by IVF pioneers Steptoe and Edwards following the birth of the world’s first “test tube” baby, Louise Brown, in 1978.
In recent years it has already added clinics in north Essex and Norfolk together with satellite centres in south Essex and Bedfordshire, making it the biggest provider of IVF services in the East of England.
The investment by Mobeus Equity Partners includes a commitment for “significant” follow-on fiancing to support further acquisition and partnership working with other IVF providers.
“Over the last four years we have established a network of new clinics and satellites that provide patients with personalised treatment programmes and excellent success rates, close to where they live,” said Mike Macnamee, chief executive of Bourn Hall.
“The funding will support the opening of further clinics by 2015 and will generate new jobs in these areas.”
Greg Blin from Mobeus Equity Partners said: “Bourn Hall has more than 30 years of experience in delivering fertility treatments. Its past performance and success in securing NHS contracts demonstrates that it has a winning formula that provides patient satisfaction. We are delighted to help make its services more widely accessible.”
Bourn Hall’s expansion began with the acquisition of the ISIS clinic in Colchester in 2009. A satellite centre was established in Wickford in 2012 and last year Bourn Hall opened a new clinic at Wymondham, near Norwich, and another satellite, in Luton.
Mobeus was advised by Baker Tilly and Mansfield Advisors while Bourn Hall was advised by Mills & Reeve and Peters Elworthy & Moore.