NewGenIVF Terminates Reverse Merger with European Wellness
Deal News | Mar 31, 2025 | Globenewswire
NewGenIVF Group Limited, a prominent fertility services provider in Asia, has announced the termination of its proposed reverse merger with European Wellness Investment Holdings Limited (EWIHL). Initially agreed upon in December 2024, the plan was for EWIHL to acquire a 61.6% equity stake in NewGenIVF upon the completion of the merger. However, due to EWIHL's failure to deliver the requisite draft audited financial statements by the specified deadline of March 31, 2025, NewGenIVF has exercised its right to cancel the deal without incurring any cost. Despite this setback, NewGenIVF CEO Siu Wing Fung Alfred remains optimistic about the company's growth prospects, citing ongoing strategic initiatives such as the Microsort acquisition and lifetime egg-freezing service. NewGenIVF continues to focus on its core business strategy, offering comprehensive fertility services across its clinics in Thailand, Cambodia, and Kyrgyzstan.
Sectors
- Healthcare & Fertility Services
- Financial Services & Mergers
Geography
- Asia – NewGenIVF operates its clinics within Asia, specifically in Thailand, Cambodia, and Kyrgyzstan.
- Europe – European Wellness Investment Holdings Limited is a European-based company involved in the merger context.
Industry
- Healthcare & Fertility Services – NewGenIVF is a fertility services provider, engaged in helping individuals with fertility treatments, a primary focus of this industry.
- Financial Services & Mergers – The discussion revolves around a reverse merger, a significant financial transaction where EWIHL sought majority control over NewGenIVF.
Financials
- 61.6% – The equity stake EWIHL was to acquire in NewGenIVF upon completion of the reverse merger.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NewGenIVF Group Limited | Target Company | Company | A comprehensive fertility services provider listed on NASDAQ operating in Asia. |
| European Wellness Investment Holdings Limited | Bidding Company | Company | A healthcare company that was set to own a majority stake in NewGenIVF through a reverse merger. |
| Mr. Siu Wing Fung Alfred | CEO of NewGenIVF | Person | Founder, Chairman, and CEO of NewGenIVF expressing confidence in the company's future despite merger termination. |