Chennai-based Iswarya Fertility Center has raised more than ₹350 crore (nearly $37 million) in a growth investment from healthcare investment firm OrbiMed Asia, as investors increase their focus on India’s expanding fertility care market amid shifting demographic trends.
The funding will help Iswarya establish new centres in existing and underserved markets, strengthen clinical infrastructure, invest in digital capabilities and expand its embryology talent pipeline, the company said in a statement on Thursday.
“Our focus over the next phase is clear: deepen our pan-India presence, enter underserved geographies and keep raising the bar on clinical outcomes,” Dr. Arun Muthuvel, managing director at Iswarya Fertility Center, said in the statement.
India’s Sample Registration System (SRS) Statistical Report, 2024, shows the country’s total has fallen to 1.9, below the replacement rate of 2.1 required for long-term population stability.
At the same time, rising incomes in densely populated urban centres have made consumers more willing to spend on fertility treatment, drawing increased investor interest to the sector.
“From the very beginning, every center we have opened has been guided by a simple belief: clinical excellence and compassion must always go hand in hand,” said Dr. S. Chandralekha, founder and chief clinical officer of Iswarya Fertility Center, in a statement.
For US-headquartered OrbiMed, which has traditionally focused on biopharmaceuticals, medical devices, diagnostics and healthcare services, the investment extends its India portfolio into .
While the company’s immediate focus is to deepen its presence in India, Muthuvel indicated it would eventually expand overseas.
“Orbimed’s healthcare expertise and shared commitment to clinical excellence make them an ideal partner as we expand access to high-quality fertility care across India and, over time, into international markets,” he said.
Founded in 1986 by Chandralekha and Veluswamy, Iswarya has grown into southern India’s largest fertility network. It currently operates more than 85 centres across eight states and has served more than 300,000 couples over the past four decades.
The company offers , IUI, fertility preservation, genetics and other advanced reproductive treatments, and operates on a hub-and-spoke model that it says combines clinical depth with cost efficiency.
“Iswarya has established itself as one of the country’s leading fertility platforms through its strong clinical outcomes, trusted brand, capital-efficient operating model, and experienced leadership team,” Dr. Sunny Sharma, partner and senior managing director, and Arun Sadhanandham, managing director at OrbiMed, said in a joint statement.
Veda Corporate Advisors acted as financial adviser to Iswarya and its promoters on the transaction.