Fertty Signs an Agreement with Igenomix Group to Advance in Genetics
Currently, Fertty performs 1,000 treatments a year, a figure it expects to double in a matter of three years. Fertty closed 2020 with a turnover of $3.4 million (€2.9 million), compared to $2.8 million (€2.4 million) in 2019. The Barcelona-based assisted reproduction clinic has just sealed a global agreement with the Igenomix group to advance in genetic research.
Fertty is looking for allies to continue growing in the fertility sector. The Barcelona-based assisted reproduction clinic has just sealed a global agreement with the Igenomix group to advance in genetic research, as confirmed by Miguel Ángel Checa, founder of the company.
The agreement, the amount of which has not been disclosed, will serve to “develop technology in genetics and endometrium and to do so jointly”, explains the founder of this clinic located at number 25 Ausiàs March street in the Catalan capital. In this way, Fertty joins forces with one of the leaders in the assisted reproduction sector, which last July was acquired by Vitrolife.
The investment fund behind Igenomix, EQT, decided to transfer the assisted reproduction group for more than $1.4 billion (€1.2 billion). Founded in 2011 as a spin-off from IVI Group, Igenomix is a global benchmark in women’s health and reproductive genetics services for in vitro fertilization (IVF) and rare disease clinics. It has approximately 560 employees and is headquartered in Valencia, with additional laboratories in some 20 countries.
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Fertty is confident that in three years the percentage of international patients will be 40%
This is not Fertty’s only recent project. The Catalan clinic also partnered with Overture Life, the Madrid-based group specializing in assisted reproduction led by Martín Varsavsky, the Argentine businessman who made lofts fashionable in New York and revolutionized telecommunications with Viatel in the United States, and with Jazztel, Ya, and Fon in Europe.
In 2020, an agreement in principle was announced between both parties and now what Checa defines as an “experimental project in research and development (R&D)” is already underway. Specifically, Fertty will implement the products that Overture Life is developing, adds the founder of the Barcelona-based company.
Overture Life is the Jazztel founder’s fertility project. The company managed to raise twenty million dollars $21 million (€18 million) from some of Silicon Valley’s heavyweights. Among them are Khosla Ventures, the fund of Vinod Khosla, founder of Sun Microsystems and a historic figure in the tech world; the Wojcicki sisters, the CEO of 23andMe, and Menlo Park’s Felicis Ventures.
Fertty closed 2020 with a turnover of $3.4 million (€2.9 million)
Beyond partnerships, another of Fertty’s objectives is to focus on the international patient. Currently, 95% of clients are national, but the company hopes that in three years this percentage will be 40%, compared to 60% of national patients. To achieve this goal, the company has invested one million euros in the expansion of its center, where it will add 200 square meters to create “a virtual reality visit area” aimed at foreign patients.
At present, the company performs 1,000 treatments a year, a figure it expects to double in a matter of three years. Fertty closed 2020 with a turnover of $3.4 million (€2.9 million), compared to $2.8 million (€2.4 million) in 2019, and the forecast for 2021 is to reach revenues of four million euros. Miguel Ángel Checa is the leader of this project.
The founder is a graduate in Medicine from the Universitat Autònoma de Barcelona and coordinator of the International Master’s Degree in Reproductive Medicine from the same center. In addition, Checa is the head of the section of gynecological endocrinology and human reproduction at the Hospital del Mar in Barcelona. Fertty’s other partner, Juan José Espinós, who served as coordinator of the reproductive endocrinology unit at the Hospital de la Santa Creu i Sant Pau in Barcelona.
(Featured image by jarmoluk via Pixabay)
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