KKR nearing deal for Spanish fertility treatment provider Ivirma

Bloomberg: KKR & Co is nearing a deal to acquire Spanish fertility clinic chain Ivirma Global, according to people familiar with the matter.

The New York-based buyout firm is in advanced talks for Ivirma after outbidding other rivals, the people said, asking not to be identified because the matter is private. A transaction could value Ivirma at about 2.5 billion euros ($2.7 billion) to 3 billion euros, the people said.

The parties are hammering out details of a transaction that could be announced in the coming days, the people said. Talks are ongoing and could still fall apart.

Representatives for KKR and Ivirma didn’t immediately respond to requests for comment. An agreement could be signed in the next few hours, and Ivirma’s medical and management team will continue as shareholders and lead the business, ServiMedia reported, citing unidentified people.

KKR, Cinven, Nordic Capital and Carlyle Group Inc. were among buyout firms that have expressed interest in acquiring the Spanish company, Bloomberg News reported earlier this month. Banks and private credit firms are competing to provide debt financing for a potential deal, people familiar with the matter have said.

With about 75 clinical offices and 28 laboratories in nine countries, Ivirma is one of the world’s leading reproductive medicine groups, according to its website. The firm was created after the 2017 merger of IVI, which had operations in Europe and Latin America, and the U.S.-focused RMA.