INVO BIOSCIENCE ANNOUNCES RECENT APPOINTMENT OF PRESSLY AHAMMED AS DIRECTOR OF INTERNATIONAL BUSINESS DEVELOPMENT
SARASOTA, Fla., June 19, 2019 — INVO Bioscience, Inc. (OTCQB: IVOB), a medical device company which was granted FDA clearance for the first Intravaginal Culture System, INVOcell®, announced the recent appointment of Pressly Ahammed as INVO Bioscience’s new Director of International Business Development. Ahammed will be responsible for developing the Company’s international distribution channels in Europe, the Middle East, Africa and parts of Asia, and will report to Michael Campbell, chief operating officer of INVO Bioscience.
With a career in excess of 11 years, Pressly Ahammed has worked in numerous segments of the international healthcare sector including hospitals; wholesale and retail sectors; and distribution. Ahammed joins INVO Bioscience from Cooper Surgical, where he held a similar title focused on women’s healthcare business development in Eastern Europe, the Middle East, Africa, and South and Central Asia.
On a worldwide basis, there are approximately 150 million infertile couples. Approximately 1.5 million IVF cycles are performed annually corresponding to approximately 1% of the infertile couples worldwide. Including IUI (another 1% worldwide), this represents an approximate $6.6 billion worldwide market. With nearly 98% of the infertile couples going untreated, it results in an estimated unmet market opportunity of hundreds of billions of dollars.
Katie Karloff, Chief Executive Officer of INVO Bioscience, said, “We are pleased to have a highly experienced and respected international sales executive the caliber of Pressly Ahammed join the INVO Bioscience team. Throughout the world, there is a tremendous unmet market opportunity as the existing fertility options, including IVF and IUI, are either too expensive or provide low effective pregnancy rates. We continue to see strong interest in our INVOcell device in key markets outside the U.S. The INVOcell procedure helps bridge the gap between cost and effectiveness which should resonate extremely well throughout many parts of the world. With Pressly’s experience operating effectively in a number of important international markets, we believe he can help to accelerate our international efforts to partner our INVOcell technology.”
In January 2019, INVO Bioscience and Ferring Pharmaceuticals entered an exclusive U.S. commercialization agreement for INVOcell. The agreement allows for INVO Bioscience to enter separate agreements for the INVOcell in non-U.S. markets.
Ahammed commented, “I am pleased to join INVO Bioscience at this important time in the Company’s history. I intend to leverage my international experience in positioning the INVOcell technology as a powerful new option providing hope for millions of couples struggling with infertility to realize their dreams of starting a new family. We have an innovative and cost-effective process that will benefit many in the international markets. I am excited with the opportunities ahead.”
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