Charlotte investment firm New Republic Partners says it invested in New York-based Innovation Fertility, a network of medical practices that provide infertility care. Terms were not disclosed. New Republic joined with Albaron Partners, a New York PE company that focuses on health care.
The infertility market “might be the fastest growing specialty in medicine,” says Sam Bowles, a New Republic managing partner. “Couples are choosing to have children later, while success rates are improving and there is more insurance available for these procedures.” Other factors providing tailwinds include greater male infertility and more same-sex couples designing children, according to industry reports.
New Republic was impressed by Innovation Fertility CEO Dwight Ryan’s background in developing labs to serve the four medical clinics owned by the company, Bowles says. It also operates an accredited school in Florida for health care workers specializing in embryology, which can help the business grow with new staffers, he says.
Innovation Fertility now has practices in North Carolina, Michigan, Montana and Ohio.
Bowles says he and two other New Republic teammates formerly worked at private equity funds. The firm is making some direct investments, though most of its PE allocation involves investing in larger funds.
New Republic Partners was launched in 2021 with backing from Charlotte’s Belk, Close and Bowles families. It offers investment, advisory and credit services to institutions and high net-worth individuals and institutions.