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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, Inc. (NASDAQ: INVO) has officially opened its second INVO Center, named Bloom Fertility, in Atlanta, Georgia. This facility aims to provide advanced fertility care using the INVOcell solution, which offers a more affordable and effective alternative to traditional treatments like IVF. The center is a joint venture with renowned reproductive specialist Dr. Sue Ellen Carpenter, and is set to start patient treatments in October 2021. This expansion follows the successful launch of the first INVO Center in Birmingham, Alabama, with plans for more centers, including one in Monterrey, Mexico.
INVO Bioscience (NASDAQ: INVO) announced that Dr. Inger Britt Carlsson will present at the AFRH virtual conference on September 23-24, focusing on INVOcell as a patient-centric, affordable fertility solution for Africa. With an infertility rate averaging 10.1% across the continent, many couples struggle to access reproductive technology. The INVOcell procedure, the first in vivo culture system, provides a low-cost alternative to IVF and IUI. INVO Bioscience has recently registered in Nigeria and aims to democratize fertility treatments throughout Africa.
INVO Bioscience, Inc. (Nasdaq: INVO) reported Q2 2021 financial results, showing revenues of $208,472, down from $246,072 in Q2 2020. The net loss was approximately $(1.8) million, increasing due to higher expenses. Key operational milestones included the opening of the first U.S. INVO Center in Birmingham, Alabama, and joint ventures to establish additional centers in Atlanta and Monterrey, Mexico. The company emphasizes its commitment to democratizing fertility treatment and aims to capture a larger share of the market with new center operations.
INVO Bioscience, Inc. (NASDAQ: INVO), a medical device company specializing in infertility treatment, will release its financial results for Q2 2021 on August 16, 2021, after market close. A conference call to discuss these results is scheduled for the same day at 4:30 pm ET. The company focuses on its innovative in vivo Culture System (IVC), INVOcell®, which aims to provide affordable fertility solutions, enhancing patient access to care. This announcement is pivotal for stakeholders to gauge the company's financial health and market position.
INVO Bioscience, Inc. (NASDAQ: INVO) announced the grand opening of its first Joint Venture INVO Center in the U.S., located in Birmingham, Alabama, on August 9, 2021. The center, named 'Innovative Fertility Specialists, An INVO Center', will provide efficient and affordable fertility treatments using the INVOcell® system. The practice expects to begin seeing patients in August and perform initial treatments in September 2021. This initiative aims to enhance access to advanced fertility services, addressing the needs of underserved patients.
INVO Bioscience (NASDAQ: INVO) announced the appointment of Dr. Barbara Levy as Senior VP, Global Clinical Integration. Dr. Levy, a respected expert in women's health, aims to enhance the company's OB/GYN channel strategy and promote its INVOcell technology for infertility treatment. With significant experience, including a VP role at ACOG, she will focus on improving access to affordable and effective fertility care. CEO Steve Shum expressed optimism about her influence in democratizing fertility treatment worldwide.
INVO Bioscience, Inc. (NASDAQ: INVO) has announced a joint venture with Dr. Sue Ellen Carpenter to open an INVO clinic, named Bloom Fertility, in Atlanta. This clinic aims to utilize the INVOcell technology, which offers a cost-effective solution for infertility treatment. With previous partnerships in Birmingham and San Francisco, INVO Bioscience is committed to expanding access to advanced fertility care. The Atlanta clinic is expected to operationalize quickly, and the company will own 40% of this joint venture.
INVO Bioscience (NASDAQ: INVO) has appointed Andrea Goren as its new chief financial officer, effective immediately. Over nearly 27 years, Goren has held various financial roles, including CFO at Phoenix Group and Shamrock Group. He has been consulting for INVO over the past year, which gives him familiarity with the company’s operations. His leadership is expected to support INVO's strategic initiatives, including the launch of company-owned INVO clinics later this year. The company aims to increase access to fertility treatments through its innovative INVOcell device.
INVO Bioscience (Nasdaq: INVO) reported a 165% revenue increase in Q1 2021, totaling $684,523 compared to $258,571 in Q1 2020. The net loss for the quarter was $(2.5) million, a rise from $(1.4) million in the prior year, attributed to higher operating expenses. Key developments include the signing of agreements for U.S.-based INVOcell clinics in Alabama and Northern California, alongside international expansions and marketing enhancements. As of March 31, 2021, cash reserves stood at $8.4 million.
INVO Bioscience, Inc. (NASDAQ: INVO), a medical device company specializing in infertility treatments, will report its first quarter 2021 financial results on May 17, 2021, after market close. A conference call is set for 4:30 pm ET on the same day, accessible via phone and live webcast. The company's lead product, INVOcell®, is the only in vivo Intravaginal Culture System, offering a cost-effective alternative to traditional infertility treatments. The aim is to expand access and reduce costs for patients diagnosed with infertility.
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