IVF giant again in play after new bid pumps up shares
Australia’s second-largest fertility services provider is considering a takeover approach, valuing the group at around 35 per cent more than its last share price close.
Shares in Monash IVF, which has an assisted reproduction market share of about 19 per cent, rose almost 16 per cent to 77 cents on Monday after the offer was announced.
Possible predators are offering 90 cents, well above the stock’s close of 66.5 cents on Friday, when Monash IVF’s market value was almost $260 million.
This isn’t the first investment vehicle that WHSP Holdings and private equity group Genesis Capital have set their sights on Monash IVF.
They first pursued the target in November, when Monash IVF was under pressure due to the embryo implant scandal.
A patient at the lab in Melbourne’s south-east was implanted with her own embryo on June 5, rather than one from her partner as requested.
The company later blamed the incident on human error and IT limitations.
The confusion led Victoria’s health regulator in November to impose requirements on the registration of clinics across the state.
WHSP and Genesis were then offering 80 cents a share for all shares in Monash IVF, which had struggled to trade above 90 cents for more than 12 months.
Its last high was $1.23 in February 2025, although it previously traded near $1.50.
The bidders, who hold a 19.6 percent stake in Monash IVF, told the company their offer was valid until April 21.
They also want exclusive access to Monash’s books and a unanimous recommendation from the board.
Monash IVF said the approach was unsolicited, conditional and non-binding.
“The Monash IVF board is considering the proposal, including seeking advice from its financial and legal advisors,” it said in a statement.
“It should also be noted that there is no certainty that the negotiations with the consortium will result in any transaction.
In April 2025, Monash IVF revealed that a woman at a facility in Brisbane had had another patient’s embryo incorrectly implanted in 2023 due to human error.
This meant that the woman was giving birth to a stranger’s baby.
This and Victorian incompetence sparked an independent review chaired by leading barrister Fiona McLeod; This review has since been completed, but its full contents have not been disclosed.
According to the latest figures from the Australia and New Zealand Assisted Reproduction database, around 20,000 babies conceived through IVF are born in Australia each year.
This represents approximately one in 18 children, rising to one in 10 children born to mothers aged 35 and over.
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