INVO BIOSCIENCE, INC. (OTCMKTS:IVOB) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On January 13, 2020, INVO Bioscience, Inc. (the “Company”) entered into a joint venture agreement (the “Agreement”) with Medesole Healthcare and Trading Private Limited, India (“Medesole”), an Indian corporation that promotes and distributes healthcare technologies, medical equipment and allied services to hospitals, clinics and primary health care centers in India and the Middle East.
to the Agreement, the Company and Medesole will form a joint venture entity incorporated and registered in India, which will operate under the name Medesole INVO Bioscience India Private Limited (the “JV”). After formation, the Company will grant to the JV all required licenses for promoting, marketing and selling the Company’s INVOcell® technology in India. The Company and Medesole intend that the JV will open and operate dedicated INVOcell® clinics only in India.
The JV will be governed by a board of four directors, and the Company and Medesole will each elect two directors. The Company and Medesole will each own 50% of the JV, and will share equally in the expenditures, revenues and profits of the JV. The Agreement has a term of three years, and may be terminated by either party on 180 days’ prior written notice.
The foregoing summary of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
INVO Bioscience, Inc. Exhibit
EX-10.1 2 ex_169667.htm EXHIBIT 10.1 ex_169667.htm Exhibit 10.1 MEDESOLE JOINT VENTURE AGREEMENT This Joint Venture Agreement (this “JV Agreement”) is made and entered into this 13th day of January 2020 (the “Effective Date”). BY AND BETWEEN INVO Bioscience,…
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About INVO BIOSCIENCE, INC. (OTCMKTS:IVOB)
INVO Bioscience, Inc. is a medical device company. The Company is focused on creating various treatments for patients diagnosed with infertility. The Company’s product, the INVOcell, is a medical device used in infertility treatment and is considered as an assisted reproductive technology (ART). INVOcell is an intravaginal culture (IVC) system used for preparing, holding and transferring human gametes or embryos during vaginal in vitro fertilization or intravaginal culture procedures (IVF/IVC). The INVOcell system consists of various components: INVOcell Culture Device, INVOcell Retention Device and INVOcell Holding Block. The INVO Procedure is a fertility treatment option allowing fertilization and early embryo development to take place inside the woman’s body. The INVO Procedure is an IVC or in vivo incubation assisted reproduction technique available.