June 17, 2019
Morgan Stanley Capital Partners Completes Investment in Ovation Fertility
June 17, 2019
NEW YORK, NY — June 17, 2019 6:45 AM EDT
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.