NewGenIvf is a small fertility clinic operator that targets patients from mainland China and Hong Kong who travel abroad for assisted reproductive services. The company operates three clinics — in Thailand, Cambodia, and Kyrgyzstan — and focuses on IVF and related fertility treatments, which it prices at roughly $7,000 per cycle, positioning this as significantly cheaper than comparable treatment in Western markets. IVF treatment accounts for roughly 83% of revenue, with the remainder coming from a surrogacy referral business in Kyrgyzstan, where NewGenIvf connects patients with independent surrogacy agents and collects a commission. The Thailand clinics are the flagship, offering the broadest suite of services including genetic screening, egg freezing, and gender selection. The Cambodia clinic handles IVF and egg donation. NewGenIvf acquires patients through third-party agents, social media, and word-of-mouth, paying agents a commission upon treatment completion. The company owns MicroSort, a pre-conception gender selection technology acquired in early 2025, and Nodexus NX One, a microfluidic cell-sorting device it plans to lease to U.S. IVF clinics as a new revenue stream. NewGenIvf's cost base is primarily staffing, medical supplies, and facility leases, making profitability sensitive to patient volume. The business is built on fertility tourism — patients traveling specifically because certain services are cheaper or legally unavailable in their home countries.