INVO Fertility names new CFO, restructures leadership roles

INVO Fertility Inc. (NASDAQ: IVF) announced executive leadership changes aimed at supporting its growth strategy focused on fertility clinic acquisitions and operations.

Terah Krigsvold, who served as the company's controller since December 2020, has been appointed chief financial officer. She replaces Andrea Goren, who held the CFO position since July 2021.

Goren will transition to chief business officer and chief executive officer of INVO Centers LLC, the company's wholly owned subsidiary that operates fertility clinics.

"This realignment of roles strengthens our ability to execute our plan to grow the business and reach profitability," said Steve Shum, CEO of INVO Fertility, according to the company's statement.

Shum noted that he has worked with Krigsvold for seven years and highlighted her progression during that time. He said Goren's new role will allow him to focus on the company's acquisition strategy and new clinic launches, citing Goren's experience with approximately $1 billion in financing and acquisition transactions.

INVO Fertility operates as a healthcare services company in the fertility sector. The company's strategy centers on building, acquiring, and operating fertility clinics, including locations that offer procedures using its INVOcell medical device. The company currently operates two INVO Centers in the United States and one IVF clinic.

The leadership restructuring reflects the company's focus on expanding its clinic network through acquisitions and new facility development as part of its growth plan.

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