Medicover, which has invested in India through a number of businesses such as Oriflame for over a decade, has now entered the Indian IVF market in May this year.Medicover plans to open 50 IVF clinics in India, andpromises high standards of operations and quality. After surveying the IVF markets in Delhi and Mumbai last year, Medicover swiftly swung into action to open doors in the country. “The fertility market is big in India. We have a great team that is full of passion,” says John Stubbington, CEO, Medicover Division. “We feel we can add value to the market because we feel that the quality of what we produce and the results that we achieve will be unique in this market place.”
The healthcare brand says that even though there are a number of big and small players already present in the Indian market, there was still an opportunity for brands that offer quality service as well as a “different approach” where IVF won’t be pushed down the throat of patients as is done very frequently by existing fertility facilities today. “IVF is not the answer to each fertility problem. Once we find the problem, we will then look at the solution,” said Felipe Velasquez, commercial director, Medicover Division. “We will use a different approach.”
Medicover is currently operational in 15 countries. Not only is there an emphasis on quality but also on ethics, says Stubbington. Medicover has constituted an independent ethics board in India that comprises three members, and will ensure that the Indian facilities comply with the healthcare group’s standards. Medicover also brings in greater transparency by allowing patients to view the goings-on of their laboratories with the aid of CCTV cameras.
Medicover plans to open the 50 clinics between 3 to 5 years. The Swedish healthcare brand has opened 5 centres in Delhi, and is looking to open 7-8 additional centres. Medicover will open clinics in Punjab next year.
Medicover has set a target ofachieving 20,000 cycles in 5 years with a revenue target of $100 million.
The controversy around the tightening of the surrogacy laws poses to be an obstacle to Medicover’s plans. But the healthcare brand believes that regulation is welcome and countries like Ukraine are conducting surrogacy successfully.