Plans to open one more clinic in Ontario, expand to other provinces
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BY: Meg St-Esprit
In Toronto, Twig Fertility has secured a second round of funding from the venture capitalist firm Rhino Ventures, totalling $8 million CAD.
Zach Shapiro, the co-founder and CEO of the startup says he and his co-founder Dr. Rhonda Zwingerman, who is also the medical director of Twig, needed capital, guidance, and alignment in vision to take their clinic to the next level. "We are beyond excited to be growing the Twig footprint and bringing our elevated, modern, tech-forward patient experience to more Canadians,” says Zwingerman.
The first round of funding, which they’ve chosen not to disclose an amount for, was secured through family and friends. To grow, however, the team needed to look beyond their circle. Shapiro says venture capital funding is not a common choice. “Venture capital firms and private equity have different parameters.” Since the clinic had recently opened, Shapiro said they did not have the cash flow that private equity firms generally want to see, but this was not the sole reason they explored venture capital funding. “It was really about finding the right people, and to us they just blew us away.”
In the Toronto infertility market, there is a need for both more clinics and more focused care, says Samantha Diamond, co-founder and CEO of Bird&Be, also located in Toronto. Bird&Be provides supplements and fertility supplies aimed at giving patients more successful outcomes. “We do know that if you zoom out, about 30% of Canadians live in provinces that don't have IVF funding, and there are out of pocket expenses like IUI/IVF medication, alternative medicine, and supplements that are sometimes not covered in provinces that do have coverage.”
That’s why improved technology and patient care are critical, says Shapiro. Twig Fertility plans to open two more clinics — one in Ontario and one outside of the province, but they say they don’t yet know where. Tech, Shapiro says, means patients are more likely to have a successful cycle.
“We are always paying attention to how we can use data to achieve best outcomes in the industry and using analysis to help our patients in the best way we can,” he says. For example, more advanced electronic medical records and storage systems require less administration time — the investment in software pays off in a better bottom line and more face-to-face time for patients. Shapiro is also interested in some of the automated sample storage systems in use in the U.S., but they are not yet approved in Canada. Twig plans to stay abreast of upcoming reproductive tech that will improve patient experiences and outcomes.
At another Toronto clinic network, The Fertility Partners, medical director Dr. Dan Nayot says a focus on expanding clinic space and the use of technology makes sense in the Ontario market. While the majority of clinics in the province are located in Toronto, there are still wait times at most Canadian clinics — and they tend to be much longer in less populated areas. Nayot says wait times vary, and Shapiro adds that in his experience most waits are around three to four months long. “All of us in the field are hoping to increase access to care and improve the patient experience,” says Nayot. “We want to improve the treatment protocols and success rates. The whole field is trying to increase accessibility, and we are all hoping to use tech to enable that.”
The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser
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