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Gina Bartasi is back as chief executive at Kindbody, the fertility company she founded in 2018, the company tells Axios exclusively.

Why it matters: Bartasi's second act as CEO comes as the digital health unicorn prepares for an IPO.

The latest: Bartasi replaces Annbeth Eschbach, who was appointed president in 2019 and took on the CEO position as well in 2022.

Kindbody is now EBITDA-positive and is expecting to generate $225 million to $250 million in revenue this year. 

What's next: "We'd love to raise a crossover round," which could finance acquisitions ahead of a potential IPO in Q2 or Q3 next year, Bartasi says.

"There's one more milestone we're targeting, which is [becoming ] free cash-flow-positive," she adds, noting Kindbody expects to achieve that this year. 

"I do think the election plays into the IPO window," she says, adding the company doesn't plan to pursue a listing in the months directly leading up to or after the federal election in November. 

How it works: Based in New York, Kindbody functions as payer and provider and offers customers bundled rates for its services, which include fertility and nutrition consultations, in-vitro fertilization (IVF), egg freezing and virtual therapy.

Reality check: Just over six months ago, Kindbody's prospects were looking less rosy.

Bloomberg reported last November that Kindbody was looking for $50 million to help the company weather larger-than-expected operating losses and a "material" cash burn. (Kindbody declined to comment on this to Axios).

This was after Bartasi told Axios last March that the company had no plans to raise more funding and would be EBITDA- and cash-flow-positive in 2023. 

A Bloomberg investigation from October 2023 found understaffed clinics and inconsistent safety protocols contributed to errors at Kindbody, though the company refuted the staffing allegation in its comment to Bloomberg. 

Catch up quick: Kindbody has raised just over $290 million from investors like Perceptive Advisors and GV.

Bartasi stepped into the chair role from CEO in 2022. She says Eschbach's entire tenure was always planned to be five years. 

The board asked Bartasi to return to the top job in the fall, she adds, but her son was newly diagnosed with Crohn's at the time, and she wasn't in a position to step in.

The big picture: The Alabama Supreme Court's ruling on IVF in February created a flurry of legal questions and liability risks, casting a shadow of uncertainty across the sector.

"What we've seen is protecting IVF and fertility coverage is a bipartisan issue," Bartasi says, adding that both presidential nominees have signaled support and defense for IVF and fertility freedom.

The bottom line: Kindbody may finally be ready for the IPO it's been plotting the last two years. 

Gina Bartasi returns as CEO of fertility unicorn Kindbody

Bartasi's second act as CEO comes as the digital health unicorn prepares for an IPO.

Illustration of a baby onesie printed with the image of a $100 bill.

Health tech

Gina Bartasi is back as chief executive at <a class="gtmContentClick" data-vars-link-text="Kindbody" data-vars-click-url="https://www.axios.com/pro/health-tech-deals/2023/03/02/fertility-kindbody-raises-100-million-2-billion-valuation" data-vars-content-id="b8dc436d-7710-4a0a-b4d0-7da353c868bb" data-vars-headline="Gina Bartasi returns as CEO of fertility unicorn Kindbody" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/health-tech-deals/2023/03/02/fertility-kindbody-raises-100-million-2-billion-valuation" target="_self">Kindbody</a>, the fertility company she founded in 2018, the company tells Axios exclusively.Why it matters: Bartasi&#x27;s second act as CEO comes as the digital health unicorn prepares for an IPO.

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Gina Bartasi returns as CEO of fertility unicorn Kindbody

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