Fertility chains grow by buying established local hospitals, and the Indira IVF Sabine acquisition would be one of the larger examples in India if it goes ahead. Reports on 28 October 2026 say Indira IVF is in advanced talks to buy a 70% to 75% stake in Kerala-based Sabine Hospital and Research Centre for ₹1,200 crore to ₹1,300 crore. The talks are unconfirmed, and this article looks at what the deal would mean for fertility care in Kerala and for the wider Indian market.
Key takeaways: the Indira IVF Sabine acquisition and the fertility market
- The reported price is ₹1,200 crore to ₹1,300 crore for a 70% to 75% stake; the companies have not confirmed it.
- Sabine is reported to have two Kerala facilities, about 300 beds and more than 6,000 IVF cycles a year.
- Reports say a rival chain, Nova IVF Fertility, recently entered Kerala by buying Craft Fertility.
- Globally, the IVF market is projected to grow at 6.4% a year to 2032, with Asia Pacific the fastest-growing region.
- Sabine’s financial results have not been disclosed.
What the reports say about the Indira IVF Sabine acquisition
According to the reports, which name no sources and quote no executives, O3 Capital is facilitating the discussions and CX Partners, which is said to have invested in Sabine only last year, would sell. Next steps are said to be valuation, due diligence and regulatory approvals. The reports describe Indira IVF as India’s largest fertility services provider and as backed by the global investor EQT. We attribute all of this to the reports and have not verified it with the companies. Company information is at indiraivf.com.
Kerala as a fertility market in the Indira IVF Sabine acquisition
Kerala is a state with high health spending and a dense network of private hospitals, which makes it an attractive place for specialised chains. Sabine’s combination of fertility, maternity and newborn-care services under one roof is the feature the reports emphasise. A patient who conceives through IVF could stay with the same group for delivery and neonatal care, and the group captures revenue at each step. That is the usual strategic argument, and the reports do not quote either company making it.
The reported entry of Nova IVF Fertility into Kerala through Craft Fertility suggests competitors are positioning in the same state. We have not confirmed that transaction independently.
The global market behind the Indira IVF Sabine acquisition
Acumen Research and Consulting’s report In-Vitro Fertilization Market Size, Share, Analysis, Trends and Forecast 2024 to 2032 values the global IVF market at USD 25.57 billion in 2023 and projects USD 44.28 billion by 2032, a CAGR of 6.4% from 2024 to 2032. It says Europe held the largest share, at about USD 9.5 billion in 2023, while Asia Pacific is expected to grow fastest at more than 7.2% a year. Fertility clinics were around 80% of the market by end use in 2023.
Two cautions apply. The report’s updated date predates its base year, so the figures are estimates, and the page’s own numbers for the clinic segment are not fully consistent. And the data are global, so they say nothing direct about Indian pricing or Sabine. More in our Healthcare Services section.
Timeline of the Indira IVF Sabine acquisition
- 2010: Sabine is founded by Dr Sabine Sivadasan.
- 2025: Indira IVF’s planned listing is reported, aiming to raise about ₹3,500 crore.
- Last year: CX Partners is reported to have invested in Sabine.
- 28 October 2026: reports of advanced talks emerge.
Questions the Indira IVF Sabine acquisition raises for patients
Patients and referring doctors will want to know whether Sabine’s clinicians and protocols would stay the same, whether prices would change, and whether treatment would be offered through other Indira IVF centres. None of this is answered by the reports. Fertility treatment is regulated in India under the Assisted Reproductive Technology (Regulation) Act, and the Ministry of Health and Family Welfare publishes related material at mohfw.gov.in. Until a deal is announced, nothing changes for patients.
How acquisitions like this are usually structured
Majority purchases of private hospitals typically involve the buyer acquiring shares from an existing investor, sometimes with the founder retaining a minority stake and a management role. A reported 70% to 75% stake is consistent with that pattern, since it leaves room for a founder or other holders to keep the remaining 25% to 30%. The reports do not say who would hold the balance, and we do not assume it. Deals of this kind usually include warranties on clinical compliance and licences, which is why due diligence is listed as a next step.
General background: why chains buy hospitals
A chain that buys a hospital gets a ready brand, licensed facilities and an existing team, which is faster than building from scratch. The risk is integration: doctors may leave, and quality can slip if standards are not aligned. Founder-led hospitals in particular depend on the reputation of their clinicians.
Our analysis of the Indira IVF Sabine acquisition
In our assessment, the Indira IVF Sabine acquisition is best read as a build-out of a national footprint, with Kerala the missing piece. The most important unknowns are financial: without Sabine’s revenue and profit we cannot tell whether the price is high or low, and the seller’s short holding period is a reminder that private investors move quickly. We do not predict that the deal will complete.
What is not disclosed about the Indira IVF Sabine acquisition
- Confirmation from Indira IVF, Sabine or CX Partners.
- Sabine’s financial performance.
- The final terms and approvals needed.
- Plans for Sabine’s doctors and brand.
Risks and caveats
This is a report of talks, not a completed transaction. Terms may change or the talks may end. The Acumen figures are global estimates from a page with an inconsistent updated date. This article is news reporting and not investment or medical advice.
What to watch next
- A formal announcement or stock-exchange disclosure.
- Indira IVF’s listing documents.
- Other fertility chains’ moves in Kerala.
- Any change in prices or services at Sabine.
FAQ
Is the Indira IVF Sabine acquisition official?
No. It is reported as under discussion and is unconfirmed.
What stake is involved?
About 70% to 75%, according to reports.
Does this affect IVF patients now?
No. Nothing changes unless and until a deal is completed.
How we reported this: we relied on press reports of the talks, company and ministry sites and the Acumen Research and Consulting report cited above, and attributed every claim. Last updated 28 October 2026. This is news reporting and not advice.
