NewGen Group Limited (Nasdaq: NIVF) announced it has received an independent valuation from a Big Four accounting firm for its planned cell sorting and cytometry leasing business in the United Arab Emirates, according to a press release from the Bangkok-based company.

The report assigns a midpoint equity value of approximately $19 million, as of May 31, 2026, for the new operating entity. The valuation follows a prior Big Four assessment of NewGen's cytometry intellectual property at $17.9 million in October 2025.

The planned business model involves leasing cytometry devices to local clinics on a fixed-plus-variable consumables basis while operating a centralized sorting hub in the UAE.

NewGen also announced the appointment of Nadeem Malik as Senior Strategic Advisor to lead the UAE and Gulf Cooperation Council expansion. Malik previously served as Chief Executive Officer of Genetics and IVF Institute from 2015 to 2026 and as President of Fairfax Cryobank. He also held board positions in a China-Shanghai IVF joint venture and was involved in commercializing MicroSort sperm sorting technology.

"I am excited to join NewGen at this pivotal moment," Malik said. "The Company's cytometry technology, combined with the UAE's strategic location and surging demand, positions us to build a scalable, high-margin business that addresses a critical unmet need."

NewGen cited third-party projections from TechSci Research estimating the UAE IVF market will grow from approximately $270 million in 2024 to $444 million by 2030, representing a compound annual growth rate of about 8.5%. The company noted it has not independently verified these third-party figures.

NewGen operates across real estate development in Ras Al Khaimah, digital asset initiatives, and health and longevity solutions, including assisted reproductive technologies across Asia.