According to their corporate timeline, their affiliate network grew from 22 clinics in 2012 to 109 in 2017. Perhaps more importantly, RBA came with their sister company, My Egg Bank. RBA is the largest IVF practice group in the state of Georgia. In October 2016, Prelude reported that it had acquired Reproductive Biology Associates (RBA) of Atlanta. Massive capital from Lee Equity Partners has allowed Prelude to accelerate their acquisition of existing companies, and have they ever. If Prelude’s coffers total $200 million, and Lee Equity’s buy-in was in line with their disclosed portfolio, then one might speculate that 25 to 50% of Prelude’s initial funding came from Lee Equity Partners. Where does a startup get $200 million and how have they acquired market-share so quickly? Meet the war chest and strategic acquisitions behind Prelude’s rapid market entry. Prelude Fertility splashed into reproductive headlines in the fall of 2016 when Forbes magazine reported on The 200 Million Dollar Startup That Wants to Stop the Biological Clock. We also learn about the private equity firms behind them. Once again we ask ourselves, what is the plan? In this article, we profile those networks who directly compete with other fertility centers. If we covered all newer companies in non-direct competition with fertility practices, this blog post would be longer than Don Quixote. Nevertheless, neither you, nor I, nor they get to pass final judgement on the quality of their output. Their bankrolls may come from Wall Street, but the people that I know that work for these fertility networks are just as passionate about serving patients as those in private practice. But I would be just as quick to point out that these companies might better serve patients in certain areas because they are better suited to face the challenges that we talked about throughtout this series. There may be cases when business pressures affect personal care. Second important disclaimer: It can be very fashionable to say these companies are more interested in their quarterly profits than the best interest of the patient.
Whether you decide to fight ‘em or join ‘em, however, we just can’t pretend these major new players don’t exist. There’s no right or wrong answer in a vacuum. You have to make the decision that’s right for you, your family, and your practice. This might be a long conversation, or several, with your business partner, spouse, clergyman, or bartender.
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If you’ve been struggling with this decision, I suggest reading part 2 of our series on vision and strategy, to see where you stand. They have their own vision for their culture and operations. Other practice principals feel they would lose control over the way they treat patients. The stress of operations is shared with someone else, so providers can focus on practicing medicine. For some practice owners, a relationship with one of these firms is the answer to a lot of headaches. It could be an excellent decision for your practice to sell equity to one of these firms or engage in a different level of strategic partnership with them. Some might be very happy with their corporate partners and some might not be. I have good friends that work for these companies or have affiliated their practices with them. compete with or join them. just don't pretend they don't exist My observations and opinions are exactly those, based on information that has been publicly released by these companies or covered in the press. Rather, it is a curated synopsis of public information. This profile is not a revelation of insider knowledge.
We work or have worked with clinics in some of their networks. Important disclaimer: Neither I, nor Fertility Bridge have a direct commercial relationship with these companies at time of writing, though we certainly may in the future.
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