NewGenIvf Updates on Reverse Merger and MicroSort Acquisition
Deal News | Mar 07, 2025 | Globenewswire
NewGenIvf Group Limited, a fertility services provider listed on NASDAQ, has provided an update on its intended reverse merger with European Wellness Investment Holdings Limited (EWIHL) and announced the completion of its acquisition of MicroSort Reproductive Technology. The proposed reverse merger, outlined in a term sheet dated December 11, 2024, would result in EWIHL holding about 61.6% of NewGenIvf's equity. Progress on this transaction remains pending as EWIHL has not submitted required draft audited financials. NewGen retains the option to terminate the merger agreement if milestones are unmet by March 31, 2025. Separately, NewGen finalized its acquisition of MicroSort on February 28, 2025, as part of its long-term growth strategy to increase access to fertility treatment in Asia. NewGen’s financial standing improved from a $7 million deficit to over $10 million in surplus as of February 2025, with minimal debt, setting a strong foundation for future strategic acquisitions.
Sectors
- Healthcare Services
- Reproductive Technology
- Financial Services and Mergers & Acquisitions
Geography
- Asia – Focuses on NewGen's operations in Thailand, Cambodia, and Kyrgyzstan and its role as an Asia-centric fertility services provider.
- Europe – European Wellness Investment Holdings Limited is part of the proposed reverse merger, involving a European entity.
- United States – NewGenIvf is a NASDAQ-listed company and part of the financial and regulatory disclosures pertain to the U.S. market.
Industry
- Healthcare Services – Involvement of NewGenIvf as a fertility services provider industry offering comprehensive reproductive health services.
- Reproductive Technology – The acquisition of MicroSort Reproductive Technology emphasizes developments within the reproductive and assisted technology sector.
- Financial Services and Mergers & Acquisitions – Discusses strategic financial transactions such as a reverse merger and acquisition activities.
Financials
- $7 million deficit to $10 million surplus – Improvement of NewGenIvf's financial position from a deficit to a surplus over a five-month period.
- $2.16 per share – Net asset value per share reached by February 2025.
- US$50,000 – Current minimal debt level on NewGenIvf's balance sheet.
- 61.6% – The equity stake in NewGenIvf that EWIHL would hold upon completion of the merger.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NewGenIvf Group Limited | Target Company | Company | A NASDAQ-listed company, providing comprehensive fertility services in Asia. |
| European Wellness Investment Holdings Limited | Bidding Company | Company | Proposing a reverse merger with NewGenIvf. |
| MicroSort Reproductive Technology | Acquired Company | Company | Recently acquired by NewGenIvf to expand its reproductive technology offerings. |
| Mr. Siu Wing Fung Alfred | CEO | Person | Founder, Chairman, and CEO of NewGenIvf. |