INVO Closes Acquisition of Wisconsin Fertility Institute
- The acquisition adds significant scale, positive cash flow, and incremental annual revenue of over $5 million to INVO's operations.
- The acquisition complements INVO's new-build INVO Center strategy and aligns with the company's goal of democratizing the fertility industry.
- Wisconsin Fertility Institute, led by renowned fertility expert Dr. Elizabeth Pritts, has a strong track record, having helped welcome over 5,000 babies since 2007.
- None.
Transformational and accretive acquisition adds significant scale to INVO's current operations
Contributes over
First significant transaction establishing acquisitions as key aspect of INVO's commercial strategy, in addition to building new INVO Centers
The
Wisconsin Fertility Institute, led by internationally renowned and well-respected fertility expert, Dr. Elizabeth Pritts, is one of the state's preeminent fertility centers, having helped to welcome over 5,000 babies since opening its doors in 2007 with approximately 550 conventional IVF procedures completed in 2022.
"The acquisition of Wisconsin Fertility Institute accelerates the transformation of INVO to a healthcare services company, with an ability to leverage our unique and innovative INVOcell device to help democratize the fertility industry," commented Steve Shum, CEO of INVO. "The acquisition immediately adds scale and positive cash flow to our operations, with incremental growth expected to be driven at the clinic through the synergistic introduction of our INVOcell solution. We are extremely excited to have now closed this important acquisition and look forward to incorporating the clinic within our operations moving forward."
INVO's innovative device, the INVOcell, allows fertilization and early embryo development to occur in vivo within the woman's body. Wisconsin Fertility Institute joins INVO's expanding list of fertility clinics, including operating clinics in
Financial Terms of Acquisition
The purchase price of the acquisition is
About INVO Bioscience
We are a healthcare services fertility company dedicated to expanding the assisted reproductive technology ("ART") marketplace by making fertility care accessible and inclusive to people around the world. Our commercialization strategy is focused on the opening of dedicated "INVO Centers" offering the INVOcell® and IVC procedure (with three centers in
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE INVO Bioscience, Inc.
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