WASHINGTON– Morgan Health, the JPMorgan Chase & Co. (NYSE: JPM) business unit focused on improving the quality, equity and affordability of employer-sponsored health care, announced a $25 million investment in Kindbody, a leading fertility clinic network and global family-building benefits provider for employers offering the full-spectrum of reproductive care from preconception to postpartum through menopause. Dr. Cheryl Pegus, a Managing Director with Morgan Health Ventures, will join Kindbody’s Board of Directors.
Kindbody’s model is unique in that it is the only family-building benefits provider for employers that owns and operates fertility clinics. The company saves employers 25%-30% by contracting directly to provide comprehensive virtual and in-person care to their employees. As the direct provider of care, Kindbody is uniquely positioned to decrease cost, improve the patient experience and deliver better health outcomes.
A new report from the World Health Organization estimated one in six people globally are affected by infertility. “Access to high-quality fertility care is essential for health and wellbeing, and Kindbody’s model supports patients at one of the most important moments in their lives,” Dan Mendelson, CEO of Morgan Health, said. “By aligning and managing patients’ health needs through its clinics and virtual support, Kindbody is leading a paradigm shift in fertility care for millions of Americans with employer-sponsored health care.”
Founded in late 2018, Kindbody is the fertility benefits provider for 112 large employers, covering more than 2.4 million lives. The company’s clients span virtually every industry and include Walmart, Medtronic, Lyft and GEICO. Kindbody serves patients at 32 signature clinics and hundreds of partner clinics in the U.S. Kindbody’s clinically-managed program covers the full-spectrum of reproductive health, including both female and male fertility, which encompasses fertility assessments and education, fertility preservation, genetic testing, in vitro fertilization (IVF), donor and surrogacy services, and adoption, as well as a full continuum of reproductive care including physical, mental and emotional support.
“The barriers associated with fertility make starting or growing a family difficult for millions of Americans. Kindbody’s mission to provide a new fertility experience with their own health care professionals and benefits navigation is unique. Their focus on improving access and health outcomes helps mitigate many of the longstanding equity challenges employers and employees face,” said Dr. Pegus. “I look forward joining the Kindbody Board and working with the leadership team to meet the health needs for the communities Kindbody serves.”
“Only three things matter in healthcare: cost, experience, and outcomes, and only Kindbody, as the provider of care, can effectuate change in all three,” said Gina Bartasi, Founder and Chairwoman of Kindbody. “Our partnership with Morgan Health will fuel Kindbody’s continued growth allowing us to expand into geographies where the need for high-quality fertility care is in the greatest demand, so that more people can access the essential care they need to become parents. I’ve followed JPMorgan Chase and the Morgan Health team since inception, and I’m honored to have them on our cap table and Cheryl’s expertise in the Boardroom.”
Morgan Health’s investment in Kindbody follows its recent investments in Vera Whole Health, and subsequent investment in Castlight Health, Embold Health, Centivo, LetsGetChecked, and research collaboration with Kaiser Permanente. Morgan Health will continue to invest in and help scale companies focused on driving greater accountability in the U.S. health system with the goal of expanding these offerings to the more than 150 million Americans with employer-sponsored health care.
