KUALA LUMPUR (Jan 15): Fertility care specialist Alpha IVF Group Bhd said it has obtained the approval of Bursa Malaysia Securities to proceed with its proposed initial public offering (IPO) on the ACE Market.

In a statement on Monday, the group, which provides assisted reproductive services (ARS) with a primary focus on in-vitro fertilisation (IVF), said it targets to be listed within the first quarter of 2024.

Alpha IVF operates two centres in Malaysia — Alpha International Women’s Specialists Sdn Bhd in Selangor and Genesis Specialists Sdn Bhd in Penang, and one in Singapore — Alpha International Women’s Specialists (Singapore) Pte Ltd.

According to the group, the Malaysian operations have become a hub for foreign patients from Indonesia, China, Singapore, Australia and other countries.

“The group has innovated numerous treatments leading to improved pregnancy rates since its inception in 2011, and is actively involved in using artificial intelligence (AI) to enhance the IVF process,” it said.

In September last year, Alpha IVF announced its plans to go for an IPO on the ACE Market to fund new medical centres, as well as expand and upgrade existing ones.

Alpha IVF group managing director Datuk Dr Colin Lee Soon Soo said the approval to list on the ACE Market marks a significant step for the group to grow to become the leading fertility care specialist in the region, while reinforcing its dedication to making the dreams of parenthood a reality.

“Over the years, Alpha IVF has become a trusted name in the region in helping couples on their journey to parenthood. We have consistently delivered high success rates in the field of ARS, demonstrated by our strong track record and clinical experiences.

“The growing need for ARS poses an opportune moment for our expansion, enabling us to strategically capitalise on emerging opportunities, and extending to benefit even more patients with our high pregnancy rates,” said Lee.

Besides IVF, the group also provides other assisted reproductive procedures including intracytoplasmic sperm injection, intrauterine insemination; various diagnostics, testing and screening procedures; as well as cryopreservation of eggs, sperms and embryos.

AmInvestment Bank Bhd is the principal adviser, sponsor, lead placement agent, joint placement agent, and underwriter for Alpha IVF’s IPO exercise.