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Friday, September 27, 2019

Progyny on deck for IPO

Progyny (PGNY) has filed a preliminary prospectus for a $100M IPO.
The New York City-based company provides fertility and family planning services to over 80 employers covering ~1.4M employees and their partners. It says that it is “redefining” these benefits with its support throughout the entire fertility “journey,” via its Smart Cycle treatment bundles. It also provides an integrated pharmacy benefits solution called Progyny Rx.
It says its in-network IVF pregnancy rate is 60.7% compared 52.5% across all IVF clinics.
2019 Financials (6 mo.): Revenue: $103.4M (+113.6%); Net income: $4.0M (+21.6%); Cash flow ops: ($1.9M) (-50.8%).

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