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Nova Pulse IVF announces Joint Venture with IVI (Spain)

Nova IVI Fertility JV to set up India's first ART Bank in Ahmedabad
Ahmedabad, April 12, 2012: Nova Pulse IVF, a division of Nova Medical Centres Pvt. Ltd, today announced its partnership with IVI. IVI headquartered in Valencia, Spain has the world's largest chain of IVF clinics. The Joint Venture entity will be called Nova IVI Fertility.

This joint venture marks a significant milestone for Nova Pulse IVF and IVI. The collaboration of Nova Pulse IVF's visionary management & experience in India coupled with technological and research strengths of IVI will make Nova IVI Fertility the largest of such IVF service providers in the world.

The partnership enables Nova Pulse IVF and IVI to set up a nationwide chain of ART (Assisted Reproductive Technologies) Banks for sperm and egg donation and surrogacy, the first of its kind facility by any healthcare firm in India. This will be a separate legal entity "Pulse IVI ART Bank" as per the guidelines.

The first such ART Bank is being set up at Ahmedabad as per the provisions of the Assisted Reproductive Technology (Regulation) Bill 2010. There is a huge need for donor sperms, donor eggs and surrogacy amongst couples with infertility. The ART Bank will have a list of registered, properly screened sperm and egg donors and surrogates. Additionally, it will also bank frozen sperms and eggs from all parts of the country giving infertile couples a wide choice. It will collaborate with international banks to provide sperms and eggs of different ethnicity for international patients. Liaising with various embassies and legal back up will facilitate reproductive tourism, especially surrogacy.

Founded in Valencia, Spain in 1990, IVI is the world leader in reproductive medicine with 22 clinics spread across Europe and South America. IVI has one of the highest successful pregnancy rates in the world. IVI has one of the largest sperm and egg banks in the world and has pioneered the technique of freezing eggs – vitrification.

Nova Pulse IVF already has 3 existing clinics in Ahmedabad, Bangalore, and Mumbai. The JV entity shall expand to 25 clinics in India and the Middle East by Dec 2014. Nova IVI Fertility will also set up Research Foundation in the field of IVF. It will start an ART Bank in all zones of the country over the next 3 years.

Mr. Suresh Soni, Chairman and CEO, Nova Medical Centres, described the tie-up as a cornerstone in Nova's journey to achieve a stronger footprint in the healthcare delivery space. "The partnership demonstrates our commitment to deliver world-class quality care to our patients. At present, 95% of the IVF sector in India is unorganised. Protocols used currently in India for sperm and egg donation and surrogacy leave much to be desired in terms of technology, standardization of internationally accepted procedures, ethics and legality. We hope that our collaboration with IVI will help to bridge this gap by providing world class treatment at a cost effective price, with an aim to reach out to all classes of patients. Nova Pulse is proud to have IVI, the undisputed leader in research, technology and ethical practice as its partner," he added.

Mr Luis Saurat, Director General, General Manager, IVI Madrid commented, "We are delighted to be partnering with Nova Pulse IVF. We have seen how Nova Pulse has, in a short span of time, gained acceptance across the healthcare industry amongst doctors, and patients. With our expertise in the field of reproductive medicine, sperm and egg banking backed by our intensive research, training, teaching and professional excellence, we hope that Nova IVI Fertility will set a new benchmark in the IVF treatment in India."

Dr Manish Banker, Executive Director, Nova IVI Fertility, said, "The hallmark of Pulse IVI ART Bank is the unmatched standards of ethics, transparency, and traceability. In addition, there will be a choice of donors from all regions. Also, the JV is the first of its kind to tie-up with international agencies to provide donor sperms and eggs of different ethnicity through adequate legal backup."

Commenting on the ART Banks, Dr. P.M. Bhargava, Member, Draft Committee for the ART Bill of India, said, "ART Bank is a revolutionary concept and India is in the process of adopting it. An ART Bank is registered as an independent entity under the provisions of the ART Bill. An ART bank shall operate independently of any assisted reproductive technology clinic. It may also advertise for gamete donors and surrogates for patients as per their requirements and will be compensated financially for this. ART Banks have the potential to change the way couples address infertility issues."

Dr. Pravin Patel, Director of Nova IVI Fertility, said, "when the collaboration between the Nova and Pulse Women's Hospital was announced, the Honourable Minister for Health, Mr. Jay Narayan Vyas had expressed pleasure that such a collaboration was originating from Gujarat. Now, we have another pioneering initiative being launched from the same state involving an international player of very high repute. This collaboration is yet another milestone for healthcare sector of Gujarat. We are confident of meeting aspirations of government in serving niche segment of healthcare sector in the state."

About Nova Pulse IVF:
Nova Pulse IVF Clinics is a joint venture between Nova Medical Centers, India's leading short-stay surgery group, and Pulse Women's Hospital, one of the most prominent IVF Hospitals in India. Nova Pulse IVF was launched in the year 2011.

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