INVO Bioscience Announces Distribution Agreement With Biodar Plus for INVOcell in the Ukraine
10/14/2010 6:57:55 AM
BEVERLY, Mass., Oct. 14 /PRNewswire/ -- INVO Bioscience, Inc. (OTC Bulletin Board: IVOB), a medical device company focused on treatment options for patients diagnosed with infertility, today announced the signing of an exclusive sales and distribution agreement with the Biodar Plus Company, based in Donetsk, Ukraine to distribute the INVOcell product throughout Ukraine and to provide the INVO Bioscience infertility treatments in its in-house infertility center. Biodar Plus is fully licensed by the Ukrainian Ministry of Health to provide a wide variety of medical services, including gynecological and infertility treatments, and to distribute certain medical devices.
Ukraine, as a country, suffers the demographic problem of a shrinking population. The Ukrainian government provides a series of cash incentives for couples to encourage an increase in the rate of national childbirth. The Ukrainian Government is also planning the implementation of a monthly subsidy payment for each child less than 18 years old.
Biodar Plus plans on providing INVO Bioscience's cost effective infertility treatments in its in-house infertility department, as well as distribute the INVOcell device to other doctors and centers across the Ukraine. In addition, once fully trained and certified by Dr. Claude Ranoux, INVO Bioscience's founder and chief scientist, Biodar hopes to become INVO Bioscience's 'Training Center of Excellence' for doctors in the Ukraine and other Eastern European countries.
There are currently 30 infertility centers in Ukraine. Infertility treatments are very expensive, often costing more than $10,000, and therefore only available to a small number of couples with the financial resources to benefit from the treatments. INVOcell will dramatically broaden the availability of infertility treatments in the Ukraine.
Aleksandr Bratanov, MD, head physician for Biodar Plus, commented, "The INVOcell procedure and device represent a unique and cost effective method to address the growing infertility issue in Ukraine. We believe that INVOcell can capture a vast segment of the Ukrainian market because it represents a highly affordable opportunity to safely initiate a pregnancy. We predict that the entrance of INVOcell into the Ukrainian medical device market will spur the creation of a number of new gynecological practices in the country, and that a number of the existing gynecological practices will transition to the INVOcell technology. We are excited with the opportunities ahead."
INVO Bioscience is currently undergoing Ukrainian Product Registration. INVOcell is CE Mark approved in Europe and conforms to all consumer health and safety requirements. INVOcell is currently marketed and sold in Austria, Cameroon, Canada, Columbia, the Dominican Republic, Guatemala, Nicaragua, Pakistan, Panama, Peru, Spain, Togo, Turkey, and Venezuela.
About Biodar Plus
The Medical Center Biodar Plus Company is situated in the suburbs of Donetsk, which is one of the largest cities in Ukraine with over 4 million people in the region. Biodar has been in operation since 1993 marketing medical devices throughout the Ukraine. Biodar currently operates a fully licensed medical center where they provide various types of medical services including gynecological, infertility and now INVO procedures. Biodar Plus also operates a chain of pharmacies and a medical device distribution organization, which will now add the INVOcell to its portfolio of products.
About INVO Bioscience
INVO Bioscience (IVOB) is a medical device company, headquartered in Beverly, Massachusetts, focused on creating simplified, lower cost treatment options for patients diagnosed with infertility. The company's lead product, the INVOcell, is a novel medical device used in infertility treatment that enables egg fertilization and early embryo development in the woman's vaginal cavity. The company was founded by Claude Ranoux, MD, a noted expert in the field of reproductive health, infertility and embryology. For more information, please visit www.invobioscience.com.
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This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
INVO Bioscience, Inc.
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