TFP Fertility

TFP Fertility at a glance

TFP, with the 2019 acquisition of VivaNeo, is the leading Northern European provider of fertility treatments also offering adjacent services such as ultrasound scans, sperm bank, blood analysis. TFP comprises of 20 clinics across the UK, Germany, Austria, Denmark, the Netherlands and Poland and a sperm bank, a blood lab and ~80 ultrasound sites across the UK. TFP’s mission is to offer all patients the care, understanding and expertise that help to bring dreams to life. TFP’s strategy is to continue to grow both organically and through acquisitions of new clinics and development of greenfield clinics, as well as commercialization of adjacent services – and with this to continue being the leading provider of fertility services in Northern Europe, measured on Net Promoter Score (NPS), success rate, market share and profitability.

TFP Fertility facts

Sector

Healthcare & Related Services

Impilo entry date

March 2019

Impilo exit date

2024

HQ

Oxford, UK & Berlin, DE

Impilo team

Fredrik Strömholm
Svitlana Babak

Acquirer

Dismantled

Investment thesis

  • Non-cyclical industry with long-term structural demand growth
  • Diversified market exposure limiting the individual market and regulatory risks; no disruption is expected
  • Significant economies of scale on both revenue and cost side: commercializing adjacent medical and digital services, advantages in central functions (e.g., marketing, finance), procurement, ability to cross-staff personnel etc.
  • Opportunity to consolidate the various markets with many M&A opportunities at attractive multiples

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