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INVO Bioscience, Inc. (Nasdaq: INVO) is a healthcare services company dedicated to expanding access to advanced reproductive technology. Specializing in fertility treatment, INVO focuses on making fertility care more accessible and inclusive. The company operates through dedicated fertility clinics called INVO Centers, and also acquires profitable in vitro fertilization (IVF) clinics in the United States. Their proprietary technology, the INVOcell® device, allows fertilization and early embryo development to occur within a woman's body, a groundbreaking method known as Intravaginal Culture (IVC).
INVO Bioscience's recent strategic initiatives have included the acquisition of US-based IVF clinics and the opening of three INVO Centers in North America. The company's commercial strategy is built around selling products directly to physicians, and via distributors to IVF centers and medical practices.
On October 23, 2023, INVO announced a definitive merger agreement with NAYA Biosciences Inc. The merger, an all-stock transaction, aims to form a combined entity named NAYA Biosciences, which will operate under a NASDAQ listing. The merged company will focus on fertility, oncology, and regenerative medicine, leveraging NAYA's capabilities in cell and gene therapy, and artificial intelligence.
The merger is expected to provide INVO with new capital to expand its fertility clinic network across the United States and advance NAYA's oncology therapeutics. This agreement is a major step forward, with NAYA's shareholders set to own approximately 88% of the combined company and INVO shareholders 12%, pending shareholder approval and other conditions.
Financially, INVO Bioscience has shown a strong performance with significant revenue growth. For the three months ended September 30, 2023, the company reported a revenue increase of 314% compared to the same period in 2022. The company's ongoing strategic focus aims at achieving profitability by 2024, fueled by growth from its INVO Centers and efficient management of operating expenses.
INVO Bioscience is committed to making advanced fertility treatments more affordable and accessible worldwide, offering a natural and less invasive alternative to traditional IVF methods with the INVOcell® device.
INVO Bioscience announced plans to open a new INVO Center in Kansas City, Missouri, enhancing its expansion strategy aimed at increasing access to fertility care through its INVOcell medical device. The new center aligns with the company's goal to address the significant demand for fertility treatments in areas with limited options, as Kansas City has approximately 33,000 individuals facing infertility issues. Currently operating three INVO Centers, INVO aims to provide efficient and affordable fertility solutions nationwide.
INVO Bioscience, a fertility company listed on NASDAQ under the symbol INVO, will participate in the Lytham Partners Spring 2022 Investor Conference from April 4-7, 2022. The event will feature a webcast presentation available at 11:00am ET on April 4, with replays accessible afterward. The company focuses on affordable fertility care through its innovative INVOcell® medical device and intravaginal culture (IVC) procedure, aiming to enhance accessibility to assisted reproductive technologies globally. Interested parties can arrange meetings with management through Lytham Partners.
INVO Bioscience (Nasdaq: INVO) reported significant growth in 2021, with revenues of $4.2 million, up from $1.0 million in 2020. The increase was largely due to $2.9 million from deferred revenue recognition following the termination of a distribution agreement. The company's gross margin rose to 97%. INVO opened three new clinics and regained full U.S. sales rights for its INVOcell® device, aiming to increase market penetration. Adjusted EBITDA improved to $(2.8) million compared to $(3.7) million in 2020. Cash reserves stood at $5.7 million.
INVO Bioscience, Inc. (NASDAQ: INVO) will release its financial results for Q4 and FY 2021 on March 31, 2022, after market close. The company focuses on improving access to fertility treatments through its innovative device, the INVOcell®. A conference call to discuss these results is scheduled for the same day at 4:30 pm ET. INVO aims to provide affordable solutions for infertility, positioning itself as a leader in Assisted Reproductive Technology (ART).
INVO Bioscience (NASDAQ: INVO) showcased its INVOcell® fertility technology at the PCRS Annual Meeting, held from March 23-27, 2022, in Indian Wells, CA. The event allowed INVO representatives, including Senior VP Chris Myer and sales director Bojan Mitrovic, to engage with U.S. IVF clinics and promote their revolutionary intravaginal culture (IVC) system. The INVOcell® offers an affordable and effective alternative to traditional IVF methods. INVO aims to expand its U.S. presence through dedicated INVO Centers and partnerships with existing clinics.
INVO Bioscience, Inc. (NASDAQ: INVO), a fertility company, announced that Dr. Inger Britt Carlsson, VP of Medical Affairs, will join a roundtable at the 2022 Virtual Growth Conference on March 28 at 3:00 PM. The discussion, titled "Advances in Women's Health: From Clinical to Commercial," will be webcast live and feature other executives from the women's health sector. Attendees can register at the conference page. INVO Bioscience focuses on enhancing access to affordable fertility treatment worldwide through its INVOcell® device, enabling innovative in vivo fertilization methods.
INVO Bioscience (NASDAQ: INVO) is enhancing accessibility to affordable fertility treatments with its INVOcell® technology at its new INVO Center in Birmingham, Alabama. In an inflationary market, the center offers IVC procedures at under $7,000, compared to $12,000-$15,000 for traditional IVF. CEO Steve Shum emphasizes the importance of democratizing fertility options for underserved patients from across 30 states. With comparable pregnancy rates to conventional IVF, INVOcell aims to provide effective solutions that consider financial constraints.
INVO Bioscience, Inc. (NASDAQ: INVO) announced on February 16, 2022, plans to open a new INVO Center in Tampa, Florida. This center aims to provide advanced fertility care using the INVOcell® device, enhancing access for underserved patients. Currently, INVO operates centers in Birmingham, Atlanta, and Monterrey, with another center set to open in San Francisco. CEO Steve Shum emphasized the demographic suitability of Tampa for expanding fertility services. The company is also evaluating opportunities for further growth in other markets.
INVO Bioscience (NASDAQ: INVO) updates its commercialization strategy for the INVOcell medical device, regaining full U.S. rights as of February 1, 2022. This initiative aims to address the unmet needs of the multi-billion dollar fertility market, where over 90% of couples seeking treatment are underserved. The INVOcell device enables intravaginal culture (IVC), allowing natural fertilization and embryo development at an affordable rate. Currently, the company operates three INVO Centers in Birmingham, AL, Atlanta, GA, and Monterey, Mexico, with plans to expand to 20 U.S. cities.
INVO Bioscience, Inc. (NASDAQ: INVO) has regained full U.S. commercialization rights for its INVOcell technology as of February 1, 2022, allowing direct sales to IVF clinics and the establishment of more INVO Centers. The company aims to improve access to fertility treatments, targeting the underserved market where over 90% of couples needing infertility care go without. Key initiatives for 2022 include increasing distribution, driving patient volumes in existing centers, and expanding INVO Centers into more U.S. cities.
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