CNY Fertility triples IVF cycles since 2017 with no investor funding

Independently owned fertility center reports more than 7,300 IVF cycles in 2022

BY: RON SHINKMAN

Robert Kiltz, M.D., is a Los Angeles native who mostly studied and trained within California. Buffeted by the civil unrest and major earthquake that struck the city in the first half of the 1990s, he decided to move his family to the Finger Lakes region of New York. combined, the population of the region’s biggest cities, Rochester and Syracuse, have less than one-tenth the population of L.A. However, the region was still welcoming enough newborns to support Kiltz’s obstetrics practice.

Back in the mid-1990s, Kiltz received about $2,000 for a delivery. “When I started (offering) IVF, that sounded like a reasonable price,” he said. “I don’t have to deliver a baby at two in the morning and it’s a lot less work.”

Since CNY Fertility’s founding in 1997, Kiltz’s original single-site practice has steadily grown. It now operates nine clinics in upstate New York, Georgia, Pennsylvania, Colorado and Florida. That includes clinics that opened in Colorado Springs last year and Sarasota, Fla. this year. Companywide, CNY Fertility employs nearly 500 workers. That includes 15 physicians and osteopaths and 33 practitioners in total. Eight of the doctors are board certified in reproductive endocrinology and fertility (REI), with a ninth currently obtaining their certification, according to Kiltz.

CNY Fertility’s IVF cycle numbers have grown rapidly in recent years. It performed more than 7,300 cycles last year, triple the 2,429 performed in 2017. Just a decade ago in 2013, it performed fewer than 1,800.

Kiltz is the sole owner of CNY Fertility, and he has financed its expansion primarily through loans, he said. The company has accepted no venture capital or private equity investments.

Despite possessing the singular ambition to steadily grow CNY Fertility over the years into a national player, Kiltz said he didn’t do it to become rich.

“I went into medicine to help people and to make a reasonable living doing it. But I never did it for the money,” he said.

Low Price Points, Direct-to-patient Marketing

One of the keys to CNY’s growth has been its low price point, which it has maintained over the decades and is prominently advertised on the homepage of its website. That $2,000 IVF cycle in 1997 is now $4,275, or $4,720 including remote monitoring. Add a frozen transfer, remote monitoring, and a one-year embryo storage and the cost is just over $10,000. By comparison, the National Conference of State Legislatures estimates that the average IVF cycle costs between $12,000 and $17,000, not including medication. CNY Fertility also promotes travel programs where patients can undergo bloodwork and cycle monitoring by a local doctor before traveling to one of its clinics for a procedure. 

Kiltz said that prices are kept low through aggressive negotiations with all its suppliers, including medications. About 60% of CNY Fertility’s patients pay cash, with the rest paying through insurance, in line with recent data about payer mix in the reproductive medicine space.

Aside from aggressive pricing, CNY Fertility is also quite active on social media. Kiltz’s nephew, William Kiltz, directs its marketing and business development full-time.

CNY Fertility’s TikTok page, for example, has 55,000 followers. A few individual fertility doctors have similar or higher numbers, but the handful of fertility clinics using TikTok do not come close to that, based on searches on the TikTok application. CNY Fertility’s feed includes dozens of videos on subjects ranging from the egg retrieval process, TSH levels and employee and patient testimonials. Most are produced and edited and often include multiple camera angles and graphical overlays.

Kiltz, sporting a short black t-shirt, jeans and a thick silver chain, narrated one video on immunologic issues and IVF that has drawn thousands of views.

CNY has also trademarked various slogans for marketing purposes, including “Making Priceless Affordable.” Another slogan, “Miracles by CNY” was used to brand clinic merchandise, including a baby bag that made the “Today Show’s” list of top baby bags in 2021. 

Meanwhile, Kiltz is focused on continuing to grow CNY Fertility. He plans to add about 50 employees over the next year, including three to five new physicians and practitioners for the New York, Colorado and Florida sites. Plans are also on the drawing board to expand into Orlando, Fla., Texas and Kiltz’s old stomping grounds of Southern California. And Kiltz suggested his expansion strategy may soon no longer be a solo venture.

“If we’re going to open up three to five new centers in the next couple of years, then we’re certainly up to other joint partners to help CNY Fertility grow,” he said.

The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser

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All external links active as of 4/27/23.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

Fight for Families: RESOLVE’s 2023 Initiatives in a post Roe world

This News Digest Is Donated Sponsored Content From RESOLVE

BY: MELANIE KALMAR

When the Supreme Court overturned Roe v. Wade last year, one organization renewed its focus on access to care for patients battling infertility.

Since 1974, RESOLVE: The National Infertility Association  has provided education, advocacy and emotional support to people nationwide who are trying to build families. The 501c3 is funded by individuals, corporations, fertility clinics, and individual professionals/experts in the field. 

A majority of the work RESOLVE does involves ensuring patients have access to emotional support and all family building options, no matter their zip code. This work includes, —support groups, federal and state advocacy, a program to encourage employers to include IVF coverage in benefits packages, public awareness campaigns and patient education, explained Barbara Collura, CEO of RESOLVE.

In FY 2022, RESOLVE helped 1.4 million people gain new or improved family building benefits through its access to care initiatives. According to Collura, the non-profit’s three big initiatives for 2023 include: protecting access to IVF services, opening access to it in California, Minnesota, Oregon and Washington State (four states that don’t have IVF insurance mandates) and increasing emotional support by returning to in-person support groups. RESOLVE offers peer-led support groups in 30 states and Washington, D.C. (42 in-person; 78 virtual; and 31 professionally led).

Protecting access

In response to the Supreme Court overturning Roe v. Wade, a move that could restrict access to IVF and people’s rights over their embryos, RESOLVE launched a new campaign: Fight for Families. Its goal is to amplify the non-profit’s existing state advocacy work and protect access to care.  

“What’s different now is the stakes are so much higher,” Collura said. “We felt we needed a louder voice and brought in PR support.” RESOLVE recently hired New York-based Fenton Communications to work with IVF patients on how to succinctly tell their stories to the media, to change minds and influence public policy.

Increasing access

Sharing stories of people who face barriers to building their family is so important in RESOLVE’s work, especially the Fight For Families campaign and when it comes to increasing access to IVF insurance through state laws,, Collura said. RESOLVE sees even more of an opportunity to increase access to care in California, Minnesota, Oregon and Washington State because after Roe v. Wade was overturned, legislators from those four states announced reproductive rights of women are protected in their regions, yet  those states don’t have an insurance mandate for IVF to back it up, Collura explained. She went on to say that this state advocacy work largely happens because of a strong coalition of other non-profits and corporate partners that work together. 

She said a robust insurance mandate would include coverage of at least two cycles of IVF, medication, unlimited frozen embryo transfers and fertility preservations (insurance coverage to preserve sperm, egg or embryo of patients experiencing Iatrogenic Infertility; infertility caused by medical interventions like chemotherapy, surgery or other medications someone facing Cancer treatments may undergo).

It’s critically important for people in those states to know what’s going on and speak with legislators,” Collura explained. “RESOLVE can show up and advocate but if constituents, the people that vote these lawmakers into office, don’t show up it doesn’t move our issues forward. “If legislators are hearing from their constituents about how important it is, it changes their mind and gets them to support our issues.”

She said RESOLVE has put coalitions to work made up of doctors, patient advocates, attorneys, grassroots influencers and bill sponsors and hired a team of paid lobbyists to help advance legislation they introduced in those state capitols.

Mental health matters

The third initiative is restarting and reinvigorating in-person support groups across the country that were virtual during the pandemic. “We believe your mental health and ability to take care of yourself enhances and directly correlates to your ability to stay in medical treatment,” Collura said. “Connecting with others, finding a sense of community and taking care of yourself is vitally important to everyone as they go through this journey.”

Introducing federal legislation

With the overturning of Roe v. Wade, access to IVF was not federally protected. RESOLVE is hopeful that the Right to Build Families act that was introduced at the end of last year will be reintroduced this year. It aims to reintroduce to Congress the Right to Build Families Act that was introduced at the end of last year. “It would create a new law at the federal level that says people have a right to access IVF, medical professionals have a right to offer that service and people have a right over their embryos,” Collura said. “We’d love to see it in federal law, then states wouldn’t need to pass their own laws restricting access.”

On April 25, RESOLVE and the American Society for Reproductive Medicine (ASRM) will host a federal advocacy day, an opportunity for people to join RESOLVE and ASRM to advocate on a federal level. Participation is free.

“We provide training and an opportunity to tell you what to say, what the issues are, why these issues are important,” Collure explained. “We help people develop their own story and make it very bite size and succinct so that it will hit on the really important points members of congress need to hear.”

Meetings between participants, senators and state representatives are virtual and last 15 to 20 minutes. Most conversations actually take place with legislators’ staff who relay the messages.

“So many members of congress don’t know about all these issues,” Collura said. “This is our chance to tell them what’s important to us.”

This News Digest Story is donated featured sponsor content, where the Advertiser has editorial control. They do not reflect the views of Inside Reproductive Health.

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All external links active as of 3/30/23.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

Natera revenue over $800 million, net loss almost $600 million for 2022

BY: NATASHA SPENCER

On 28th February 2023, the US clinical genetic testing company released its full-year financial results for 2022, which include information on milestones achieved in 2022 and early 2023 and its financial statements. 

Net loss increase

Natera’s net loss increased to over half a billion dollars, reaching $547.8 million for the full year in 2022, compared to a net loss of $471.7 million in 2021 and 229.7 million in 2020. On the newly-released earnings call, a spokesperson for Natera told Inside Reproductive Health: “The company reiterated its goal of hitting a cash flow breakeven quarter in 2024.”

Despite these losses, Natera reported cash reserves, cash equivalents, short-term investments and restricted cash totaling approximately $898.4 million at the end of 2022, compared to $914.5 million at the end of 2021. 

As of 31st December 2022, the company had a total outstanding debt balance of $362 million. The amount comprises $80.4 million including accrued interest from its credit line with investment bank, UBS, along with a gross outstanding balance of $287.5 million under its seven-year convertible senior notes, which it received in April 2020. 

Total revenue projections

In 2023, Natera’s total revenue guidance is between $980 million- $1 billion. If Natera reaches this projected revenue, it is expected to reduce cash burn—the rate a company loses money—by approximately $150 million in 2023. 

“Our guidance for 2023 reflects our expectations for robust top-line growth as we reduce operating expenses and continue to position the company for ongoing success,” said Natera’s CEO, Steve Chapman. The company’s increased operating expenses were primarily due to growing its headcount, it reports, to support new product offerings.

Natera’s total operating expenses increased by 16.7% in 2022 year-on-year, amid its changing product portfolio, increased labor, and overhead costs. In 2023, Natera will focus on lowering these total operating expenses to achieve its projected targets.

The company anticipates its 2023 gross margin to be approximately 41% to 44% of revenues. Natera’s selling, general and administrative costs are estimated to reach approximately $510-$540 million in 2023; research and development (R&D) costs are projected at $325-$345 million, and net cash consumption is expected to be between $300-$325 million.

Revenue is up, gross profit margin is down

Speaking to Inside Reproductive Health, Natera provided information on the company’s revenue breakdown. Natera generated total revenues over the last three years of $820.2 million in 2022, $625.5 million in 2021, and $391.0 million in 2020.

The company’s gross profit equaled $364.0 million in 2022, $307.1 million in 2021, and $187.4 million in 2020, representing a gross margin of 44.4%, 49.1%, and 48%, respectively. While Natera’s gross revenue and gross profit are up, the company’s gross margin has dropped by 4.7% year-on-year.  

In 2022, medical device provider for women’s healthcare, Cooper Surgical, also saw a drop in its gross margin, decreasing from 67% in the fiscal year 2021 to 65% in 2022. The company stated that this was driven mainly by currency. 

It was also a similar story at science and technology company Merck, which saw its gross margin decline from 72.0% in 2021 to 70.6% in 2022. Merck said this decrease is primarily due to higher amortization of intangible assets, along with increased sales of the oral antiviral medicine Lagevrio and revenue from third-party manufacturing arrangements, both of which have lower gross margins.

Natera cited its changing product mix, increased labor, and overhead costs as the primary reasons behind its lower margins in 2022. Volume growth and customer support drove these, as well as one-time revenue of £28.6 million recognized from its Qiagen arrangement in 2021. Natera saw a year-over-year volume improvement of 31.6% in 2022, the company’s spokesperson shares.

No fertility services breakdown

When asked, Natera was unable to detail how much of the revenue and net income comes from fertility-related services. “We don’t break out revenues or other financials by product,” Natera’s spokesperson confirmed. 

Currently, the company’s fertility-related product portfolio includes Spectrum, a preimplantation genetic test, Anora, a miscarriage test, and Horizon, a carrier screening test. 

New board member 

Natera announced that Ruth E. Williams-Brinkley is joining its board of directors, growing its total board members to ten, effective in the position from 2nd March 2023.

As the current president of Kaiser Permanente Health Plan of the Mid-Atlantic States (KPMAS), a position Williams-Brinkley will continue to hold, the healthcare executive oversees the company’s care delivery and health plan operations.

The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser

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All external links active as of 3/9/23.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

Profit Down for 11 of 12 Publicly Traded Fertility Companies

This News Digest Brought to You by
BUNDL

BY: RACHEL LELAND

At least 12 publicly traded companies have multi-million dollar divisions, or their entire corporate focus, in the reproductive health space. 

The companies have different fiscal years. Some ended their 2022 fiscal year last summer. Most will not until the end of March 2023. In their most recent quarterly or annual reports, only one company, Jinxin Fertility Group which owns HRC Fertility, reported a gain in net profit. Inside Reproductive Health indicates the reporting periods below.

Jinxin Fertility Group
According to Jinxin Fertility Group’s half-year earnings report, the company experienced a 27.8% increase in gross profit, jumping from ¥363.2 million in June 2021 to ¥464.3 million the same month in 2022. In the same period, the company’s total revenue climbed from ¥859.3 million to ¥1.1 billion, a jump of 32.5%. The Group’s net profit bumped from ¥162.6 million to ¥187.6 million, a 15.4% climb. Jinxin Fertility Group is listed on The Stock Exchange of Hong Kong Limited. 

Femasys
Femasys’ third-quarter report shows that the company’s gross sales jumped 24.7% from $105,403 to $131,451 from Q320, largely due to the increase in U.S. FemVue sales. The report flagged the company’s YoY revenue up 28.89% from $269,580 to $347,460. Their income statement reports an $8.5 million net loss for the first three fiscal quarters of 2022. Femasys is listed on the NASDAQ.

Cryoport 
According to Cryoport’s third-quarter report, revenue from the company’s reproductive medicine  increased to $7.6 million, a gain of 15% or $1.0 million compared to the same period in 2021. The report noted that the increase was driven by strong demand for the company’s CryoStork solutions as well as new international fertility clinic partnerships. YoY net loss attributable to common stockholders was $33.9 million, or $0.69 per share, for the nine-month period ending in September 2022. Cryoport is listed on the NASDAQ.

Hamilton Thorne 
According to Hamilton Thorne’s third-quarter report, YoY gross profit increased a total of 11.8% from $18.2 to $20.4 million. Year over year sales increased 14% to $41.8 million. Hamilton Thorne’s net income dropped 41.8% from $1.6 million to $930,000. Hamilton Thorne is publicly traded on the Toronto Venture Exchange.

Monash IVF
Monash IVF’s group revenue grew 4.7% from AU$183.6 million to AU$192.3 million. 26,22236,200 Their net profit for fiscal year 2022, which ended June 30 of the same year, decreased from 2021’s AU$36.2 million to $26.2 million, a drop of 27.6%. Monash IVF is publicly traded on the Australian Securities Exchange. 

Natera
According to Natera’s third-quarter report, gross profit for the third quarter in 2022 and 2021 were $94.1 million and $76.7 million, respectively, representing a gross margin of 44.7% and 48.5%, respectively. The company’s total revenue climbed from $452.4 million in 2021 to $602.9 million, a 33.2% increase. Natera reported a net loss for the third quarter of 2022 of $121.5 million, or ($1.25) per diluted share, compared to a net loss of $151.3 million, or ($1.63) per diluted share, for the same period in 2021.

EMD Serono
Merck KGaA is publicly traded on the Frankfurt Stock Exchange and the Xetra Stock Exchange.In the United States and Canada, Merck operates as EMD Serono in the healthcare business. According to Merck’s third quarter report, fertility sales grew 6.2% from €1.003 billion to €1.066 billion. The company’s healthcare specific income loss was substantial, dropping to € –133 million from € 129 million in 2021.

Organon
According to Organon’s third quarter report, the company’s gross profit in 2022 of $991 million was close to last year’s gross profit of $986 million. Total net revenues were $1,537 million for the third quarter of 2022, a decrease of 4% as-reported and an increase of 3% excluding the impact of foreign currency, compared with the third quarter of 2021. Net income from continuing operations for the third quarter of 2022 was $227 million, or $0.89 per diluted share, compared with $323 million, or $1.27 per diluted share, in the third quarter of 2021. According to the report, Follistim AQ (follitropin beta injection), increased 2% ex-FX in the third quarter of 2022, and ganirelix acetate injection increased 52% ex-FX. Organon is publicly traded on the New York Stock Exchange. 

INVO Bioscience 
According to INVO Bioscience’s third-quarter earnings report, revenue decreased by more than 87% following the termination of the company’s license with Ferring Pharmaceuticals on January 31, 2022. Gross profit for the YoY third quarter also dropped by 36% from $198,456 to $126,205. In the third quarter, INVO had a net loss of $2.5 million. INVO Bioscience is listed on the NASDAQ.

Cooper Surgical
In its fourth quarterly report, CooperSurgical, a subsidiary of CooperCompanies, saw revenue up 35% to $277.1 million. YoY gross profit for the entire CooperCompanies climbed from $1.95 billion to $2.14 billion, 9.4%. All in all, CooperCompanies’ net income fell by 86.9% from $2.94 billion to $385 million. Cooper Companies is traded on the New York Stock Exchange. 

Myovant Sciences
In its third-quarter earnings report, Myovant Sciences showed its cumulative total revenue for 2022 reached $321.5 million surpassing the previous year’s total of $173.4 million by 85%. Net loss for the Q3 2022 was $57.6 million compared to $63.4 million for the same period a year ago. Myovant Sciences is traded on the New York Stock Exchange. 

Progyny
In its third-quarter report, Progyny, reported a 53% year-over-year growth increase to $572.5 million from $373 million. The company’s gross profit was $122.8 million, an increase of 41% from the $87 million reported in 2021. Finally, net income was $26.9 million, a decrease of 46.8% from last year’s $50.6 million. Progyny is listed on the NASDAQ.

Pete Anevski, Chief Executive Officer at Progyny attributes the biggest driver of demand for fertility benefits to need and increased interest among millennials, the largest demographic in today’s workforce.

“Traditional insurance plans attempt to control the cost of care by restricting utilization with dollar maximums, step therapies, prior authorizations, and treatment exclusions. Their approach results in low live-birth rates and high-cost, high-risk pregnancies and multiple births, which negatively impact employers and their members,” Anevski said. 

The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser

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IVF Center loses >$300,000 from 20 lost patients

This formula calculates the economic value of a fertility center’s patient retention by using your SART data and IVF prices. Email Courtney from BUNDL to get your fertility center’s  patient retention valuation calculated for free.

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All external links active as of 2/23/23.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

Program Prevents IVF Patient Drop Out. 100% Retention Through Shared Risk

This News Digest Brought to You by
BUNDL

BY: MELANIE KALMAR

After an initial IVF cycle fails, money and emotions can become a complicated mix for patients without insurance or those who exhausted their benefits.

Disappointed, they might switch to another clinic, especially in markets saturated with competition. But starting over is a mistake. Each cycle gives doctors clinical information that informs how they approach the next one, in order to have a chance at success. By eliminating that step, patients risk wasting time and resources.

Still, it happens. They may even take a break from IVF or use the money for something else and potentially miss out on becoming parents. According to the National Library of Medicine financial burden is the top reason 62.5% of couples drop out of IVF treatment. 

BUNDL, an innovative shared risk program, removes financial concerns from the process. Patients pay for two or three IVF cycles upfront at a discount—a full suite of services—and never see another bill again. Most importantly, doctors can automatically move to the next cycle and do what they need to do to help couples start families.

“Statistically, one IVF cycle isn’t enough for patients faced with an infertility diagnosis,” explained Cheryl Campbell, director of operations at BUNDL. “We’re not a lender or financial institution. But we’re helping on the financial piece.”

The program provides the patient with a good experience while giving the practice a chance to retain that patient who might otherwise drop-off. “BUNDL is driving 100% retention,” Campbell said. “Patients want to take off that pressure upfront.”

If a patient has services remaining after a loss, they will pick up right where they left off, Campbell explained. If they don’t and the program ends unsuccessfully, they can reup and try again.

“The risk for BUNDL is you may use more services than we collected for; the risk for the patient is they may leave services on the table,” Campbell explained. “But those funds go back into the program, to help it grow.”

BUNDL is an extension of a participating clinic’s financial counseling center. Doctors refer patients based on their medical histories and/or finances. “We try to mirror what our practices offer, so patients understand they’re getting the same services just at a discounted rate,” Campbell said. Once they pay the enrollment fee, BUNDL takes care of the billing and goes back and forth with the clinic on their behalf.

BUNDL can accept payments from patients until they meet the enrollment fee required to start treatment, direct them to grants or, when applicable, offer tips on how to improve their credit score.

The team at BUNDL understands the client experience because half of them are fertility patients.

“The best conversations we have with patients are ‘I’m pregnant or here’s a picture of my newborn that I had through BUNDL,’” Campbell said. “If you take home a baby that is our measure of success. It’s important that our patients understand we want them to take home a baby.”

Already creating a buzz online, BUNDL directs patients to clinics nationwide that offer the program.

This News Digest Story is paid featured sponsor content, where the Advertiser has editorial control. They do not reflect the views of Inside Reproductive Health.

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IVF Center loses >$300,000 from 20 lost patients

This formula calculates the economic value of a fertility center’s patient retention by using your SART data and IVF prices. Email Courtney from BUNDL to get your fertility center’s  patient retention valuation calculated for free.

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All external links active as of 2/16/23.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.

BREAKING EXCLUSIVE: CEO Pardew's Last Day At CCRM Friday

CCRM's is Second Fertility Network Chief to Step Down in as Many Months

BY RON SHINKMAN, special to Inside Reproductive Health

The chief executive officer and president of one of the nation’s largest fertility clinics is stepping down, Inside Reproductive Health has learned. It’s the second exit of a head of a large reproductive health  provider in recent weeks.

Jon Pardew’s last day with the Lone Tree, Colo.-based CCRM Fertility is scheduled for this Friday, Oct. 21, a source inside the company said. He has been working remotely for an unspecified period of time.

While an exact reason has not been discerned for Pardew’s departure, a source familiar with the situation said it was health-related but not life-threatening. Pardew and a CCRM spokesperson did not respond to emails and phone calls seeking comment.

The 51-year-old Pardew has led CCRM and its affiliate companies since October 2013. At the time, it operated single clinics in Colorado and Houston and was then known as the Colorado Center for Reproductive Medicine.

CCRM Fertility has grown dramatically during Pardew’s tenure. It now operates 22 clinics in nine states, as well as two additional clinics in Canada. Its most recent acquisition occurred over the summer, when it acquired The Institute for Reproductive Medicine & Science (IRMS) , which has offices in both New York and New Jersey.

Revenue data for the privately-held CCRM Fertility, purchased by Unified Women's Healthcare from TA Associates in 2021, is not available, although GrowJo and ZoomInfo estimate it is between $75 million and $80 million per year.

Industry observers praised Pardew’s leadership.

“Jon was an incredibly thoughtful leader who approached his work as a service. He led the organization with incredible integrity and strength through the pandemic (and always),” said Carol Lynn Curchoe, a former IVF lab supervisor with CCRM Fertility, in an email. “I admire his authenticity greatly.”

Richard Groberg, a Las Vegas-based finance and private equity executive who has worked extensively in the reproductive health space, said in an email that Pardew was “dedicated and
fair.”

Prior to his tenure at CCRM, Pardew served as a managing director at St. Charles Capital, a Denver-based boutique venture capital firm, a plant manager for General Mills and as a U.S. Army officer.

No succession plans have been announced at CCRM Fertility, and Pardew is still listed as the CEO and president on the company’s website as well as his LinkedIn profile. A source said that a recruitment firm has been retained by CCRM Fertility to find Pardew’s successor.

Both Curchoe and Groberg said it would be tough finding a replacement of Pardew’s caliber, but that the company should still fare well.

Along with Pardew’s departure, Mark Segal announced in late September he was stepping down as CEO of US Fertility, which operates 69 locations nationwide. Richard Jennings, current CEO of Generate Life Sciences, will replace him. Jennings has already been named to the US Fertility board.

Segal’s last day is Dec. 31. He will become chairman of the US Fertility board of directors upon leaving the CEO post, which he has held since the company formed in 2020. He had been the CEO of Shady Grove Fertility since 1997.  “Mark has been a powerful force in shaping US Fertility and the reproductive industry,” said Jay Rose, a managing director at Amulet Capital and a US Fertility board member.

The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser

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All external links active as of 10/18/22.

External links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Fertility Bridge or Inside Reproductive Health of any of the products, services or opinions of the corporation or organization or individual. Neither Fertility Bridge nor Inside Reproductive Health bears responsibility for the accuracy, legality or content of the external site or for that of subsequent links. Contact the external site for answers to questions regarding its content.