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Ovation® Fertility announced that it has partnered with a new private equity investor: investment funds managed by Morgan Stanley Capital Partners (MSCP), the middle-market-focused private equity team within Morgan Stanley Investment Management. The investment supersedes Ovation’s previous private equity partnership with WindRose Health Investors.

The current Ovation leadership team and base of physician shareholders will remain in place, allowing for continued growth under the same innovative business model that has revolutionized the fertility laboratory services business through increased collaboration and widespread implementation of evidence-based best practices. Ovation celebrated its four-year anniversary June 1, 2019, and since its founding, has more than doubled the size of the company across numerous metrics and helped thousands of people become parents through advanced reproductive science.

“I am delighted to announce that after extensive exploration and negotiation, Ovation has accomplished its goal of recapitalization in partnership with one of private equity’s most respected names,” said Nate Snyder, Ovation’s chief executive officer. “Morgan Stanley Capital Partners believes in our business model and appreciates the strong physician relationships we have developed. They are bringing to the executive team new ideas for growth that will propel us to achieve even better patient outcomes. I’m also grateful to our founding financial sponsor, WindRose Health Investors, who took a leap of faith on our vision to reduce the overall cost of having a family through more efficient and effective fertility care.”

“We are excited to invest in Ovation, which is a premier fertility services provider in the United States,” said Steve Rodgers, managing director of Morgan Stanley Capital Partners. “We believe Ovation represents a best-in-class management team who have partnered with industry-leading physician groups and highly attractive laboratories. We look forward to supporting our partner physicians during the coming years of growth, as they deliver the highest quality of care and execute our shared mission to serve individuals and couples across the United States and beyond.”