Fertility chain to invest over Rs 30cr for expansion in east

Kolkata: With a rise in the number of couples opting for assisted reproduction solutions,

Nova IVF Fertility

, is planning to expand in eastern India market and invest over Rs 30 crore for this. The estimated investment in the Kolkata market, where two more branches are coming up, has been pegged at Rs 6 to 7 crore.

Arindam Chakraborty, CEO, Nova IVF, Eastern India, said that in the new normal phase, around 100 to 150 couples visit their centres at Kankurgachi and Camac Street. As part of the expansion plan, two other upcoming centres have been planned in Howrah and Rajarhat.

“As for assisted reproduction, we have a 21% market share in Kolkata and 14% in the east. We have already invested Rs 30 crore in the Kolkata market and now, we are set to shell out Rs 6-7 crore more for the expansion project. Apart from Kolkata, we see tremendous opportunities in Asansol, Durgapur, Guwahati and Bhubaneswar. We shall focus on these places for our future expansion project that also includes opening of multiple outreach centres in the East and northeast,” said Chakbraborty.

During the pandemic, the chain had completely shut down its business. In September, 80% of their operations resumed at the national level, according to Shobhit Agarwal, CEO (national) of Nova IVF Fertility. However, the chain continued to offer its online counselling during the lockdown.

Assisted reproduction requires a lot of counselling and in the present unprecedented times, it is far more important to opt for a comprehensive couple counselling, said Dr Rohit Gutgutia, medical director of Nova, Eastern India.

“Several couples who postponed their parenthood goals in the past four to six months are now coming for treatment. Many of our patients come from Bangladesh and Nepal and this is also boosting medical tourism,” said Gutgutia.