– Nuvo Int’l Group Ltd. has been chosen as the successful bidder in a court-supervised sale, pending judicial approval –

– The deal encompasses the acquisition of nearly all company assets, ensuring ongoing service for clients, partners, and employees –

TEL AVIV, Israel, Nov. 22, 2024 — Nuvo Group Ltd. (“Nuvo”), the creator of Invu, a pregnancy monitoring device recently featured among Time Magazine’s Best Inventions of 2024, has signed a binding agreement with Nuvo Int’l Group Ltd. (“Nuvo Int’l”), an acquisition firm backed by Kips Bay Select LP. Nuvo Int’l was selected as the winning bidder following Nuvo’s auction under Section 363 of the U.S. Bankruptcy Code. Nuvo Int’l will acquire substantially all of the Company’s assets and assume certain liabilities in exchange for cash and non-cash consideration.

“This agreement with Nuvo Int’l represents a key step in our financial restructuring and, upon completion, will enable us to continue providing top-tier pregnancy support to expectant mothers and their healthcare providers,” stated Rice Powell, CEO of Nuvo.

The U.S. Bankruptcy Court hearing to approve the sale is scheduled for December 3, 2024. Subject to court approval, the transaction is anticipated to close during the first week of December 2024.

Nuvo’s legal counsel for this matter includes Hughes Hubbard & Reed LLP and Morris Nichols Arsht & Tunnell LLP; its financial advisor is Teneo Capital LLC; and its investment banker is Intrepid Investment Bankers LLC. 

About Nuvo

Nuvo is revolutionizing pregnancy care by providing clinicians and expectant mothers with convenient, anytime, anywhere access to medically necessary remote pregnancy monitoring. Nuvo’s INVU platform is an FDA-cleared remote pregnancy monitoring and management system. It facilitates remote non-stress tests (NSTs) and maternal and fetal heart rate monitoring, while introducing innovative data-driven personalized pathways designed to improve future health outcomes. INVU is currently utilized by leading healthcare providers and research institutions in the US and Israel.  Nuvo intends to continue expanding sales in the US and Israel and plans to launch its INVU platform in Europe in 2024, contingent upon receiving the CE mark, for which it submitted an application in Europe in March 2023, to offer remote access and insights previously unavailable. Nuvo is led by a team of experienced professionals in business, medicine, and technology, dedicated to removing barriers to pregnancy care and ensuring every child has a better start. For more information and complete indications, contraindications, warnings and precautions, and instructions for use, visit .

SOURCE Nuvo Group Ltd