Morgan Stanley Capital Partners Completes Investment in Ovation Fertility
June 17 2019 - 6:45AM
Business Wire
Investment funds managed by Morgan Stanley Capital Partners
(MSCP), the middle market focused private equity team within Morgan
Stanley Investment Management, announced today that they have
completed an investment in Ovation Fertility (“Ovation” or the
“Company”). MSCP partnered with the current management team and
physician shareholders, led by Nate Snyder, who will remain CEO and
continue to drive organic and acquisitive growth. Ovation extends
MSCP’s long track record of partnering with founder-managed
companies.
Ovation, headquartered in Los Angeles, California, is a leading
provider of fertility laboratory services, including in-vitro
fertilization laboratory services (“IVF”), genetic testing, egg
& embryo storage and other services for the fertility industry.
The Company provides services through eleven laboratories across
the United States.
“We are excited to work with premier fertility services
provider, Ovation, and help the company execute its mission to
serve individuals and couples across the United States and beyond,”
Steve Rodgers, Managing Director of MSCP. “We believe Ovation’s
talented management team has developed a best in class approach by
acquiring highly attractive laboratories and partnering with
industry leading physician groups. We look forward to supporting
the company as it enters a new phase of growth.”
Nate Snyder, Chief Executive Officer of Ovation, said, “We
believe our new partnership with Morgan Stanley Capital Partners
will enable Ovation to extend our physician partnerships across the
country and advance our collaborative medical model to drive down
the average cost of a healthy baby through more efficient and
effective infertility care.”
Kaylen Silverberg, MD, one of Ovation’s founding physician
partners, will continue to serve as a member of Ovation’s board of
directors under MSCP’s ownership. “We are enthusiastic about
partnering with the one of the world’s leading financial services
institutions,” Dr. Silverberg said. “MSCP embraces our vision of
providing patients with the highest quality of care and supports
our positioning of Ovation’s labs at the forefront of innovation in
the industry.”
DLA Piper served as legal advisor to MSCP. Harris Williams
served as financial advisor to Ovation.
About Morgan Stanley Capital Partners
Morgan Stanley Capital Partners, part of Morgan Stanley
Investment Management, is a leading middle-market private equity
platform that has invested capital in a broad spectrum of
industries for over three decades. Morgan Stanley Capital Partners
focuses on privately negotiated equity and equity-related
investments primarily in North America and seeks to create value in
portfolio companies primarily in a series of subsectors in the
business services, consumer, healthcare and industrials markets
with an emphasis on driving significant organic and acquisition
growth through an operationally focused approach. For further
information about Morgan Stanley Capital Partners, please visit
www.morganstanley.com/im/capitalpartners.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has more than 671 investment
professionals around the world and $480 billion in assets under
management or supervision as of March 31, 2019. Morgan Stanley
Investment Management strives to provide outstanding long-term
investment performance, service and a comprehensive suite of
investment management solutions to a diverse client base, which
includes governments, institutions, corporations and individuals
worldwide. For further information about Morgan Stanley Investment
Management, please visit www.morganstanley.com/im.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services
firm providing investment banking, securities, wealth management
and investment management services. With offices in more than 41
countries, the Firm's employees serve clients worldwide including
corporations, governments, institutions and individuals. For more
information about Morgan Stanley, please visit
www.morganstanley.com.
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