TA Associates Announces Investment in CCRM
BOSTON - TA Associates, a leading global growth private equity firm, today announced it has completed a growth equity investment in CCRM, a leading provider network of fertility treatment services with locations in Colorado, California, Minnesota, Texas and Toronto, Canada. Financial terms of the transaction were not disclosed.
With a reputation for world-class physicians, facilities and laboratories, CCRM operates a network of fertility clinics providing a wide variety of treatments from basic infertility care to advanced in vitro fertilization (IVF). Founded by Dr. William Schoolcraft, the CCRM network includes the Colorado Center for Reproductive Medicine, considered one of the nation’s premier fertility centers. As a result of CCRM’s significant and ongoing investment in research and development, the company achieves industry leading IVF success rates. CCRM is headquartered in Lone Tree, Colorado.
“We have known the team at TA Associates for several years, and have built a positive, collaborative rapport, and we are excited to welcome the firm as an investor,” said William Schoolcraft, M.D., Founder, CCRM. “Similar to CCRM, we believe that TA has deep experience and a track record of success that bodes well for the future growth of our company. With TA’s support, we will continue our work of combining professional care, research and development, and best laboratory practices in pursuit of optimal outcomes for our patients.”
“CCRM has proven excellence in pregnancy success rates,” said Jennifer M. Mulloy, a Managing Director at TA Associates who will join the CCRM Board of Directors. “We believe this success is due to high quality physician partners, extensive research and development efforts, and the company’s resulting best practices in the laboratory. We are very pleased to partner with CCRM to continue to expand the best practices from the existing network to additional locations.”
“Partnering with TA Associates is critical to our multi-year effort to expand our footprint in North America and around the world,” said Jon Pardew, President and Chief Executive Officer, CCRM. “With TA’s support, we will continue to broaden our network of leading fertility laboratories. In addition, the highly fragmented U.S. IVF market, with approximately 500 clinics, presents possible future M&A opportunities for CCRM.”
“Marketdata Enterprises estimates annual expenditures related to fertility treatment in the United States at $4 billion, and the Centers for Disease Control estimates that approximately 12% of women of reproductive age in the United States, or five to six million, engage in infertility-related medical appointments each year,” said Ethan K. Liebermann, a Senior Vice President at TA Associates who will also join the CCRM Board of Directors. “These figures reflect the marked trend over the last several decades of women seeking to have children later in life. We are confident that given these industry dynamics, and CCRM’s superior clinical outcomes, the company will see continued growth.”
Goodwin Procter, LLP provided legal counsel services to TA Associates. Brownstein Hyatt Farber Schreck, LLP served as legal counsel to CCRM.
CCRM is an international network of in vitro fertilization (IVF) laboratories. CCRM’s mission is to bring together leaders in reproductive medicine to ensure birth rates that consistently exceed industry standards, provide excellence in patient care, and advance the future of IVF through research and development. The CCRM network includes the Colorado Center for Reproductive Medicine, founded in 1987 by Dr. William Schoolcraft, as well as other partnerships and locations in California, Colorado, Minnesota, Texas and Toronto, Canada. For more information, please visit www.ccrmivf.com.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 450 companies around the world and has raised over $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.