Why Is INVO Bioscience Stock Trading Higher Today?

INVO Bioscience INVO shares are trading higher on Monday after the company announced it signed binding agreements to acquire Wisconsin Fertility Institute.

The purchase price of the acquisition is $10 million payable over a three-year period. There will be an initial $2.5 million due in cash at closing, with subsequent $2.5 million payments due annually for the following three years. Upon closing of the transaction, Wisconsin Fertility Institute will become a wholly owned subsidiary, and its financial statements will be consolidated with those of INVO.

The Madison-based fertility center primarily offers conventional 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.

"We believe that the acquisition of profitable IVF clinics complements our overall growth strategy and is strategically significant to accelerating the success of our mission. The Wisconsin Fertility Institute immediately adds scale and positive cash flow to our operations and we expect to drive incremental growth at the clinic with the synergistic introduction of our INVOcell solution," commented Steve Shum, CEO of INVO.

INVO Bioscience is a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the intravaginal culture procedure it enables.

INVO Price Action: INVO Bioscience has a 52-week high of $0.82 and a 52-week low of $0.59.

INVO Bioscience shares are up 14.8% at $0.62 at the time of writing, according to Benzinga Pro.