

Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as the exclusive financial advisor to Utah Fertility Center (“UFC”), Nevada Center for Reproductive Medicine (“NCRM”), and Nevada Fertility Center (“NFC”), market-leading fertility services providers in the Mountain West, in a partnership with Ivy Fertility (“Ivy”), a nationally and internationally recognized innovator in the field of advanced reproductive technologies, in-vitro fertilization, and third-party reproduction that is backed by InTandem Capital Partners.
This follows InTandem Capital’s investments in San Diego Fertility Clinic (“SDFC”) in February, Reproductive Partners Medical Group (“RPMG”) in May, and Pacific NW Fertility (“PNWF”) in December, and expands Ivy’s reach into Utah, Nevada, Idaho, and the Sierra Nevada Region of California. The companies are among the top reproductive medical centers in the United States. Cascadia Capital was the exclusive advisor to RPMG, SDFC, and PNWF, as well.
Dr. Russell A. Foulk founded NCRM in Reno, Nevada in 1999, followed by UFC in Pleasant Grove, Utah in 2009 and NFC in Las Vegas, Nevada in 2020. Over the years, Dr. Foulk welcomed partners Dr. Scott J. Whitten at NCRM and Drs. Deirdre A. Conway, Shawn E. Gurtcheff, Jessie A. Dorais, and Jason D. Parker at UFC. In addition to the flagship clinic and surgery center in Pleasant Grove, UFC has offices in Murray, Ogden, Park City, and St. George, Utah; does business as Idaho Fertility Center in Idaho Falls, Idaho; and operates a leading donor egg registry OriGyn and gamete cryopreservation unit CryoVault. The entrepreneurial culture of the three practices, talented group of providers, and broad geographic reach solidify Ivy’s status as a major fertility services platform.
“The partnership between UFC, NCRM, NFC, and Ivy further expands the platform’s geographic reach into the Mountain West. UFC’s advanced capabilities in donor egg registration and gamete cryopreservation will be highly additive to the Ivy platform,” noted Kevin Cable, Managing Director in Cascadia’s Healthcare practice group.
“Cascadia’s expertise in healthcare services and the fertility market, ability to organize diligence for multiple separately managed practices, and expertise in billing systems and quality of earnings proved to be invaluable to facilitating this successful partnership,” said Dr. Foulk.
Cascadia Capital’s Healthcare team was incredibly active in 2021. This is the eleventh client transaction closed since January 2021, including four fertility transactions. Other select prior healthcare industry transactions include Tegria’s acquisition of Cumberland, BregalSagemounts’s investment in DentalXChnage, the acquisition of SonicBoom by Premise Health and the sale of Mimic Technologies to Surgical Science.
For more information about this transaction, please contact the Cascadia Capital deal team:
Kevin Cable
Managing Director and Co-Founder
kcable@cascadiacapital.com
(206) 696-7922
Vitaliy Marchenko
Senior Vice President
vmarchenko@cascadiacapital.com
(253) 314-3143
Or other senior members of the Cascadia Healthcare team:
Adam Stormoen
Managing Director
astormoen@cascadiacapital.com
(612) 260-8060
Novan Le
Vice President
nle@cascadiacapital.com
(206) 436-2510