NewGen Provides Update on Reverse Merger with European Wellness as MicroSort Acquisition Completes
Deal News | Mar 07, 2025 | EIN
NewGenIvf Group Limited, a prominent fertility services provider in Asia, has announced updates on two significant transactions. The first is their proposed reverse merger with European Wellness Investment Holdings Limited (EWIHL), which is contingent on the completion of due diligence and the delivery of audited financial statements by EWIHL. As of the latest update, these requirements have not been fulfilled, and NewGen has set a firm deadline of March 31, 2025, failing which it reserves the right to terminate the deal at no cost. Meanwhile, NewGen has successfully completed the acquisition of MicroSort Reproductive Technology, which aligns with its strategic growth and enhances its service offerings in reproductive technologies. The company remains committed to identifying further strategic acquisitions conducive to long-term growth. NewGen's financial position has strengthened significantly, transforming from a $7 million deficit to a $10 million surplus within five months. The CEO emphasized the company's commitment to disciplined transaction evaluation to optimize shareholder value.
Sectors
- Healthcare and Fertility Services
- Mergers & Acquisitions
Geography
- Asia – NewGen operates across Thailand, Cambodia, and Kyrgyzstan, making Asia the primary region for its operations.
- Europe – European Wellness Investment Holdings is involved in the proposed merger, indicating an operational interest in Europe.
- United States – As NewGen is listed on NASDAQ, its financial and strategic decisions are relevant to the US market.
Industry
- Healthcare and Fertility Services – The industry is relevant as NewGen and EWIHL operate within healthcare, focusing on fertility services and wellness investments.
- Mergers & Acquisitions – This classification is pertinent due to NewGen’s proposed reverse merger with EWIHL and the completed acquisition of MicroSort Reproductive Technology.
Financials
- Approximately 61.6% – EWIHL's proposed equity stake in NewGen upon completion of the reverse merger.
- $10 million – The surplus financial position of NewGen as stated by February 28, transforming from a $7 million deficit.
- $2.16 – The net asset value per share of NewGen as of the end of February.
- $50,000 – The remaining debt on NewGen's balance sheet as reported.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NewGenIvf Group Limited | Target Company | Companies | A fertility services provider in Asia, involved in a potential reverse merger and recent acquisition. |
| European Wellness Investment Holdings Limited (EWIHL) | Bidding Company | Companies | A healthcare investment company in Europe, involved in a proposed reverse merger with NewGen. |
| MicroSort Reproductive Technology | Acquired Company | Companies | A provider of reproductive technology recently acquired by NewGen. |