INVO Bioscience has executed a partnership agreement with Lyfe Medical for the expansion of its INVOcell solution. The deal calls for Lyfe Medical to establish and operate a clinic in the San Francisco area to offer the INVO procedure.
INVO Bioscience (INVO) will support Lyfe Medical by operating the embryology center and provide laboratory services related to the INVO procedure. Expansion into Northern California will allow the companies to target a population of approximately 8 million people.
“We are excited to sign this partnership agreement with the team at Lyfe Medical, a physician-led premier-level fertility practice, to establish an INVO center in the Northern California fertility market to help further our mission to increase access to care and expand fertility treatment across the globe,” stated CEO Steve Shum, INVO Bioscience. (See INVO Bioscience stock analysis on TipRanks)
Ahead of the opening of additional dedicated INVOcell clinics in the coming months, Colliers Securities’ analyst Kyle Bauser reiterated a Buy rating on the stock.
Bauser stated, “We believe the company can have 3-5 dedicated INVOcell clinics up and running this year and could even see a 5-day label enhancement well before the previous goal of late-2021.”
INVO Bioscience is already expanding INVOcell into international markets, having inked joint venture agreements in Mexico and India. It has also began selling in Spain at three fertility clinics.
In anticipation of INVOcell seeing accelerated adoption, Bauser has reiterated a price target of $6 on INVO, implying 48.51% upside potential to current levels.
INVO scores a 1 out of 10 on TipRanks’ Smart Score rating tool, signaling the stock is likely to underperform market averages.
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