Sarasota fertility company closes $760K clinic acquisition deal

A Sarasota fertility company has closed on the acquisition of a Midwest fertility clinic. 

Invo Fertility Inc. (Nasdaq: IVF) has acquired the nonclinical assets of Indianapolis-based Family Beginnings in a $760,000 deal consisting of cash and preferred stock consideration. The Indiana clinic has been providing fertility services across Indiana and the broader Midwest for more than a decade.

Following the acquisition, the clinic’s existing medical leadership and care teams will remain in place, including Dr. James Donahue, who will continue to lead operations at Family Beginnings under a multiyear agreement. Invo Fertility will provide clinical resources, operational support and ongoing investment in advanced technologies and best practices, according to a statement.

“Family Beginnings has a long-standing reputation for excellence and compassionate care, and we look forward to building on that legacy with Dr. Donahue and growing the clinic from its current operating levels,” Invo Fertility CEO Steve Shum says in a statement.

For the nine months that ended Sept. 30, 2025, Family Beginnings generated revenue of about $1 million and net income of approximately $200,000, or about 18% of Invo’s clinic revenue for the same period, according to a statement.

Invo Fertility has three other clinics in its portfolio — in Atlanta; Middleton, Wisconsin; and Birmingham, Alabama. The company’s commercial strategy is focused on building, acquiring and operating fertility clinics as it continues selling and distributing its InvoCell medical device to third-party-owned fertility clinics.

“This transaction not only expands our geographic footprint and enhances our portfolio of clinics, but it also advances our mission of increasing access to high-quality, patient-centered fertility care,” Shum says in the statement.

This year, Invo Fertility expects the combined revenue from all clinics, including Family Beginnings, will be about $9 million, before factoring in organic growth.

“This figure reflects the strength of our current operations and provides a clear baseline from which to grow,” Shum says in a statement. “Through targeted investments in marketing, patient access, physician recruitment and added services, we anticipate increasing that baseline revenue and profitability across our clinics as we move forward.”

In 2024, Invo Fertility posted $6.5 million in revenue and had a net loss of $9.1 million.

Now, the company is at an "inflection point," Shum says in the statement. "To reiterate, we have moved beyond stabilization and are now focused squarely on growth."

This year, Invo Fertility plans to drive “incremental growth” across its clinics through scalable and repeatable initiatives that involve technology, strengthening its care teams, and improving patient education and outreach. The company is also in discussions with “several potential acquisition targets,” Shum says in a statement.

“Looking ahead, we anticipate strong growth in 2026, driven by a combination of acquisitions and continued organic expansion,” Shum says in the statement.