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Progyny, Inc. Enhances Suite of Services with Acquisition of BenefitBump

1. Progyny acquired BenefitBump, enhancing parental leave service offerings. 2. 90% of parents seek more support managing work and home responsibilities. 3. The acquisition aims to improve recruitment, retention rates, and member well-being. 4. BenefitBump's services integrate into Progyny's existing patient care model. 5. Progyny is well-recognized for its innovative family-building solutions.

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FAQ

Why Bullish?

The acquisition expands Progyny's service offerings and strengthens its market position, which could attract more clients and improve revenue. Similar acquisitions in health tech have led to stock price appreciation.

How important is it?

The acquisition of BenefitBump directly supports Progyny's growth strategy, making it important for future earnings and competitive positioning in the fertility benefits market.

Why Long Term?

The benefits from this acquisition will develop over time as Progyny's offerings are integrated and utilized by employers and employees. Past examples show that successful integrations in healthcare lead to sustained growth.

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BENPNTY
Provides expecting parents with a concierge-level service model that delivers expert guidance, navigation and support for parental leave planning January 28, 2025 08:44 ET  | Source: Progyny, Inc. NEW YORK, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a transformative fertility, family building, and women’s health benefits solution, today announced the acquisition of BenefitBump, a comprehensive parental leave benefits navigation program for new and growing families. This addition enhances Progyny’s fertility and family building offering, extending the company's ability to further serve the needs of families on their journey from pregnancy to early childhood and beyond. With 90% of parents seeking greater support to manage responsibilities at work and home, Progyny’s enhanced suite of solutions aims to reduce member stress, improve recruitment, return-to-work and retention rates, and foster proactive child and family health. By addressing gaps across the spectrum, from fertility to postpartum support and parental leave navigation, the company helps eliminate fragmentation and enhances multi-dimensional outcomes for families. "The acquisition of BenefitBump extends our ability to provide compassionate and dedicated support to give members more confidence along their parenting journey," said Pete Anevski, Chief Executive Officer, Progyny. "BenefitBump’s high-touch, guided support integrates seamlessly into our existing patient care model and aligns with our commitment to improving member well-being through a higher standard of care." Alongside the offerings Progyny is known for across preconception, fertility, pregnancy, postpartum, and menopause, the enhanced suite of services will include: Clinical social worker-led parental wellness programComprehensive parental leave and benefits navigationCare and resource navigation for child behavior concerns and neurodiverse careClinician-facilitated peer support groups “Navigating employee benefits and leave programs is complex and adds unnecessary stress for families. Every new parent will experience leave, yet it has been an underserved area. BenefitBump was built by listening to the challenges and needs of parents, with the goal of easing their anxiety and ensuring employers and employees get the most value from family support investments,” said Scott Liebman, Founder, BenefitBump. “We’re thrilled to join Progyny, an innovator and leader in the family building space, and together provide the holistic support that families deserve.” For more information about Progyny visit www.progyny.com. About Progyny Progyny (Nasdaq: PGNY) is a transformative fertility, family building and women’s health benefits solution, trusted by the nation’s leading employers, health plans and benefit purchasers. We envision a world where everyone can realize their dreams of family and ideal health. Our outcomes prove that comprehensive, inclusive, and intentionally designed solutions simultaneously benefit employers, patients and physicians.  Our benefits solution empowers patients with concierge support, coaching, education, and digital tools; provides access to a premier network of fertility and women's health specialists who use the latest science and technologies; drives optimal clinical outcomes; and reduces healthcare costs.   Headquartered in New York City, Progyny has been recognized for its leadership and growth as a TIME100 Most Influential Company, CNBC Disruptor 50, Modern Healthcare's Best Places to Work in Healthcare, Forbes' Best Employers, Financial Times Fastest Growing Companies, Inc. 5000, Inc. Power Partners, and Crain's Fast 50 for NYC. For more information, visit www.progyny.com.  For Further Information, Please Contact: Investors:James Hartinvestors@progyny.com Media:Alexis Fordmedia@progyny.com

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