Business
INVO Bioscience Establishes Joint Venture to Operate Dedicated INVOcell Fertility Clinics in Mexico
Joint Venture Targets the Large and Growing Mexico Market for Infertility Services SARASOTA, Fla., Sept. 30, 2020 /PRNewswire/ -- INVO Bioscience, Inc.
About this update from Invo Fertility, Inc.
[{"type":"text","content":"Joint Venture Targets the Large and Growing Mexico Market for Infertility Services\n\n\nSARASOTA, Fla., Sept. 30, 2020 /PRNewswire/ -- INVO Bioscience, Inc. (OTCQB: INVO) developers of INVOcell®, the world's only in vivo Intravaginal Culture System, announced today it has teamed up with Dr. Francisco Arredondo, MD, a respected and experienced board certified reproductive endocrinologist, and Dr. Ramiro Ramirez, MD, a physician and owner of several successful enterprises in Mexico, to establish a joint venture through its wholly-owned subsidiary INVO Centers, LLC, a Delaware limited liability company (\"INVO Centers\"), focusing on developing the Mexico market for INVOcell. The new jointly-owned operation, named Positib Fertility, S.A. de C.V. (\"Positib Fertility\"), is a Mexico registered company that will focus on establishing fertility centers dedicated to offering INVOcell, with the initial center to be located in the city of Monterrey, Mexico. \n\n \n \n \n \n \n \n\n \nThe INVOcell system is a novel fertility treatment that uses a woman's own body as a natural incubator during fertilization and early embryo development. The IVC (Intra-Vaginal Culture) process using the INVOcell is cost-effective and has shown highly effective pregnancy rates and may have the ability to significantly increase patient access. The Company further believes the INVOcell system helps eliminate the need for costly infrastructure and overhead associated with IVF, one of the primary hindering factors to fertility treatment capacity. \nUnder terms of the agreement, INVO Centers, Dr. Arredondo and Dr. Ramiro Ramirez Gutierrez (through his entity, Security and Health, LLC, a Texas limited liability company), will each own a 1/3 share the venture. INVO Bioscience will provide the device, training and general technology support to the joint venture, while Positib Fertility will be responsible for the operations of the INVOcell clinics in Mexico. Each partner will equally invest in start-up and capital expenditures and share in the revenue and profits of the joint venture.\nDr. Arredondo was an early adopter of the INVOcell solution as he began offering IVC via the INVOcell to his patients at fertility clinics in San Antonio and Austin in 2016. In 2017, due to the success in expanding the accessibility of infertility treatment to patients utilizing INVOc...