The Monash IVF Group Ltd (ASX: MVF) share price is up 8% after the fertility business announced the departure of its CEO.
Monash IVF provides a number of different fertility services for patients to help them have a baby.
Monash IVF CEO resigns
Michael Knaap has resigned as the CEO and Managing Director of Monash IVF, with the board accepting and respecting that decision.
Knaap has led the business since 2019. The company’s chief financial officer (CFO) and company secretary, Malik Jainudeen has been appointed as the acting CEO.
Jainudeen has been with the company for more than a decade, he has been the CFO since 2019.
The resignation comes shortly after news of an incident at its Clayton laboratory which occurred on 5 June 2025 where a patient’s own embryo was incorrectly transferred to that patient, contrary to the plan which designated the transfer of an embryo of the patient’s partner.
Monash IVF said it would “implement interim additional verification processes and patient confirmation safeguards over and above normal practice and electronic witness systems, to ensure patients and clinicians have every confidence in its processes”.
The company has disclosed this incident to regulators and has notified its insurers. The company expects this incident to fall within the scope of its insurance coverage.
Second incident announced this year
The Clayton incident was announced this month, but there was another incident revealed earlier this year.
In April, the company confirmed an incident had happened at its Brisbane clinic, where the embryo of one patient was incorrectly transferred to another patient, resulting in the birth of a child.
This was a result of human error, according to the company.
That Brisbane incident was also reported to regulators and Fiona McLeod is currently conducting an independent investigation.
Final thoughts on the Monash IVF share price
The company noted that these two incidents occurred years apart.
Over the past year, the Monash IVF share price has sunk 50%, so, it’s trading cheaply. The key question is – will patients continue to use Monash IVF? Only time will tell.
It could be an opportunity for brave investors, but there are other ASX growth shares I’d rather look at first.
