In Vitro Fertilization (IVF) giant International Fertility Centre (IFC) is planning to invest Rs 6 crore as seed capital initially from its internal accruals to expand its business and create a network of around 10 IVF clinics across the country. Later, the firm aims to add a minimum capex of Rs 1.5 crore in each of its 10 centres. International Fertility Centre aims for an unflinching expansion targeting 100 centres by 2025.
The centre, which currently has presence across 14 cities, plans to expand in Amritsar, Chandigarh, Indore, Bhopal, Jammu, Jodhpur, Ludhiana, Raipur, Surat, Agra. Besides, the Delhi based firm is planning to expand their web internationally. Apart from India, the centre is looking to mark its presence in the international market as well by spreading its wings to Srilanka, Phnom Pehn in Cambodia, Ethiopia and Uganda.
To grow, International Fertility Centre has partnered with hospitals and doctors to work together and define a business strategy that leverages the respective competencies, takes advantage of market opportunities and achieves mutually determined goals, this helps in reducing the cost of capital. The firm is estimating a set up cost and operational cost of 60 lakh per centre/year.
Talking about the sources of funds Sarthak Bakshi, CEO, IFC informed, "The investment sources will be through internal accruals, we plan to take external funding in 2018 for further expansion of centres and diversification into other verticals".