It’s not up for debate- a woman’s body is her own. And yet, lots of people have lots to say about women’s bodies and what they should and shouldn’t be able to do.
With the abortion debate at boiling point in America following a major backwards step in legislation, the rights of women are yet again, a contentious topic of discussion. In the same way that women should be allowed to choose not to have a baby, we should be allowed the opportunity to carry and birth a child. But, experts are concerned that passing ‘personhood’ laws which give rights to fertilised eggs will “dramatically curtail the availability and practice of IVF in some states, and could in effect make it illegal for IVF facilities to freeze or discard embryos created in the process,” one reporter for The Guardian said.
Things are more progressive closer to home with Scott Morrison using Mother’s Day as a political opportunity to announce a $53 million IVF pledge, which Labor later vowed to match.
Morrison’s promised IVF cash injection will support those with genetic diseases and conditions through the process, support future parents and create 20 new perinatal mental health services.
The increase in funding will help support the demand for IVF services which skyrocketed during the pandemic. IVF is a seriously expensive venture so new parents and IVF stakeholders will be keen to see the money materialise.
Prominent IVF group Virtus Health (ASX: VRT) released a well timed trading update this morning, highlighting the sustained growth in the sector and resilience of demand despite COVID disruptions.
For the ten months to 30 April 2022 the group recorded revenue decline of 1.6% and unaudited EBITDA decrease of 29.6%. Minus signs aside, the Company maintains that seasonality typically dictates May and June to be the highest demand months which contribute significantly to profitability. Additionally, the Company is continuing to gain market share with Medicare data revealing that in the 9 months to 31 March 2022, Virtus performed more IVF fresh cycles in relative growth terms than the market.
CEO, Kate Munnings said: “The team at Virtus, including fertility specialists, scientists, clinical and administration staff, have worked incredibly hard over the past 10 months to help people become parents during challenging market conditions. Despite the additional pressure of the Acquisition Process, our strategic initiatives, including our Precision Fertility Digital Platform have progressed well during FY22 and they will lay the foundation for scalable growth of Virtus Health.”
There is an ongoing bidding war over Virtus between private equity firm BGH Capital and CapVest. Each proposal has its merits, yet no conclusion has been reached just yet.
Whilst the risk of continued disruptions to IVF services is ever present as we ride the wave of COVID uncertainty, shareholders can be assured that the demand for Virtus’ services will continue to grow.
Globally, the IVF market is valued at approximately USD $628 million and is estimated to surpass the USD $1 billion mark by 2028.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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