INVO Congratulates Wisconsin Fertility Institute on Being Named One of America's Best Fertility Clinics by Newsweek

Rhea-AI Impact

(No impact)

Rhea-AI Sentiment

(Neutral)

Tags

04/05/2023 - 09:00 AM

INVO recently announced the signing of binding agreements to acquire this top-rated clinic

SARASOTA, Fla. and MADISON, Wis., April 5, 2023 /PRNewswire/ -- INVO Bioscience, Inc. (Nasdaq: INVO) ("INVO" or the "Company"), a commercial-stage fertility company focused on expanding access to advanced infertility treatment worldwide with its INVOcell® medical device and the intravaginal culture ("IVC") procedure it enables, congratulates Wisconsin Fertility Institute on being named one of America's Best Fertility Clinics by Newsweek.

During the survey period from November to December 2022, Newsweek and Statista invited over 3,000 reproductive endocrinologists, infertility specialists, obstetricians/gynecologists working in and referring patients to fertility clinics, other medical professionals (e.g., registered nurses, laboratory assistants) and fertility clinic administrators/managers working in fertility clinics to participate in the survey. Participants were asked to assess the quality in five categories for each recommended facility and to assign a ranking position to a set of fertility clinics. Only facilities defined as fertility clinics and ART ("Advanced Reproductive Technology") providers by the Centers for Disease Control and Prevention (CDC) were considered. Click here for a full listing and methodology for inclusion.

On March 20, 2023, INVO announced it had signed definitive agreements to acquire Wisconsin Fertility Institute with final closing of the transactions expected to occur in the second calendar quarter of 2023, subject to completing customary closing procedures. The Madison, Wisconsin-based fertility center primarily offers conventional in vitro fertilization ("IVF") procedures and generated approximately $5.5 million in revenue and net income of approximately $1.9 million for the trailing 12-month period ended September 30, 2022.

Wisconsin Fertility Institute is one of Wisconsin's preeminent fertility centers, having helped to welcome over 5,000 babies since opening its doors in 2007 and with approximately 550 conventional IVF procedures completed in 2022. Since its opening, Wisconsin Fertility Institute has been led by internationally renowned and well-respected fertility expert, Dr. Elizabeth Pritts.

"A huge congratulations to Dr. Pritts and the team at Wisconsin Fertility Institute on being named one of America's top fertility clinics," commented Steve Shum, CEO of INVO. "Wisconsin Fertility Institute provides exceptional care by providing a safe, nurturing environment for both its patients and employees. We look forward to finalizing the acquisition and on working with Dr. Pritts and her team on expanding the clinic's service offerings to include our revolutionary INVOcell solution that allows for fertilization and early embryo development to occur in vivo within the woman's body. Combining IVF and IVC under one clinic will support our join mission of expanding access and affordability for the millions of people that need advanced fertility solutions."

For further information on INVO's potential acquisition of Wisconsin Fertility Institute, please click here: https://www.prnewswire.com/news-releases/invo-signs-binding-agreements-to-acquire-wisconsin-fertility-institute-301776057.html

About INVO Bioscience

We are a commercial-stage fertility company dedicated to expanding the assisted reproductive technology ("ART") marketplace by making fertility care accessible and inclusive to people around the world. Our primary mission is to implement new medical technologies aimed at increasing the availability of affordable, high-quality, patient-centered fertility care. Our flagship product is INVOcell®, a revolutionary medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. This treatment solution is the world's first intravaginal culture technique for the incubation of oocytes and sperm during fertilization and early embryo development. This technique, designated as "IVC", provides patients a more connected and intimate experience at a more affordable cost in comparison to in vitro fertilization ("IVF"), the other advanced ART treatment. We believe the IVC procedure can deliver comparable results to IVF and is a significantly more effective treatment than intrauterine insemination ("IUI"). Our commercialization strategy is focused on the opening of dedicated "INVO Centers" offering the INVOcell® and IVC procedure (with three centers in North America now operational), and the acquisition of existing IVF clinics, in addition to continuing to sell our technology solution into existing fertility clinics. For more information, please visit www.invobio.com.

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.