New York, Jan. 08, 2018 (GLOBE NEWSWIRE) -- Progyny, the leading fertility benefits management company, today announced it has achieved over 100% revenue growth in 2017. Progyny’s innovative carve-out fertility benefits solution for the self-insured market is experiencing rapid adoption by many of the nation’s top employers. Based on current sales momentum, Progyny expects to double its customer base and revenue again in 2018.
In the latest FertilityIQ Family Builder Workplace Index, employers offering Progyny’s inclusive, comprehensive benefit ranked at the top of their respective industries.
The need for fertility treatment is widespread and growing. There are several societal trends fueling this market growth.
- The ability to achieve pregnancy dramatically decreases with age and according to the CDC, for the first time in history, the 2016 US birth rate of women aged 30 to 34 surpassed the birth rate for women aged 25 to 29. It’s estimated infertility impacts 1 in every 8 women of childbearing age.
- There is growing legal and social acceptance for LGBT family-building and single parenting by choice, which requires use of fertility treatment.
- Fertility preservation is top of mind with young women. According to a study on infertility, 73% of millennials would pursue egg freezing if the option was available.
“The nation’s leading employers are recognizing the importance of providing a comprehensive and effective fertility benefit that works for their entire diverse workforce,” said David Schlanger, CEO. “The Progyny solution couples the latest science and best practices with concierge-level clinical and emotional support for patients. This combination improves pregnancy outcomes and reduces total fertility-related costs.”
On January 10, 2018, at 4:00 p.m. PT, David Schlanger will present a company overview at the 36th Annual J.P. Morgan Healthcare Conference. The presentation will take place at the invitation-only event being held at San Francisco’s Westin St. Francis Hotel.
Progyny’s lead investors include Kleiner Perkins (KP), TPG Biotech and SR One.
About Progyny:
Progyny is a leading fertility benefits management company that combines service, science, technology and data to provide comprehensive value based fertility solutions for self-insured employers.
Progyny’s benefit plans are designed to improve outcomes, shorten time to pregnancy and reduce total fertility-related costs. Progyny is privately held and is headquartered in New York, NY, with operations in San Francisco, CA. Please visit www.progyny.com.
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