TFP Fertility buys Manchester Fertility Group, one of the UK's oldest clinics
The US-backed group adds a 40-year-old Cheadle clinic with its own laboratory and five brands. The price was not disclosed.
TFP Fertility Group has bought Manchester Fertility Group, one of the UK's longest-established fertility providers. The deal was announced on 23 October. The price was not disclosed.
Manchester Fertility was founded in 1986 and runs a purpose-built clinic and laboratory in Cheadle, Greater Manchester. It trades under five brands: Manchester Fertility, Essential Fertility, Semovo, Egg Donors UK and BuySperm. Its services include fertility treatment, donor services and fertility preservation. The sellers were shareholders Jonathan Koslover and Deborah Falconer.
"Finding the right partner was hugely important to us," Mr Koslover said.
Background
TFP runs ten fertility clinics and 21 satellite and referral centres across the UK and Poland. It reported revenue of £65.5 million in the year to March 2025. Amulet Capital Partners, a US private equity firm focused on healthcare that manages about $3.8 billion, bought TFP from Benefit Street Partners earlier this year.
Weightmans, Clearwater International and KPMG advised the sellers. Lincoln International, McDermott Will & Schulte and EY advised TFP and Amulet.
The bigger picture
Most IVF in the UK is paid for privately. Only 28% of IVF cycles were NHS-funded in 2024, down from 35% in 2019, according to figures from the Human Fertilisation and Embryology Authority (HFEA). That steady self-pay demand is a big part of the appeal for investors.
IVF clinics also need an HFEA licence and an embryology laboratory. Buying an established licensed centre is quicker and less risky than building a new one.
Analysis: what it means for your clinic
For independent fertility clinics, this deal shows what buyers will pay for: a long track record, an in-house laboratory and well-known local brands. Founder-owned clinics with those assets will keep getting approaches.
The sellers used a law firm, a corporate finance house and an accountancy firm. That is typical of a competitive sale run to get the best price, rather than a single approach accepted as it came.
Timing also matters for owners now. From 6 April 2027, Business Asset Disposal Relief covers only £500,000 of each seller's lifetime gains, down from £1 million. Our Budget article explains the cost.
For rival clinics in the North West, a well-funded group now owns one of the region's best-known names. Expect more spending on marketing and patient acquisition.
What to watch next
- Whether TFP keeps the five brands or brings them under its own name.
- Further UK acquisitions by TFP under Amulet.
Sources
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