Sep 30, 2019

Fertility startup Progyny files to go public

A baby in a hospital in Birmingham, England. Photo: Christopher Furlong/Getty Images

Progyny is ready to go public, and unlike a lot of other health care startups that have slid into the public markets, the fertility benefits company is already profitable.

The big picture: Employers rarely covered in vitro fertilization, egg freezing and other fertility care in the past, and those services are expensive when paying out of pocket — in vitro could cost $25,000 per try.

  • Progyny is capitalizing on companies increasingly offering fertility benefits as a way to attract and keep employees.

By the numbers: Progyny's revenue in the first half of this year was $103 million, and it turned a $4 million profit, according to its IPO documents

  • Progyny's largest customers, Google and Microsoft, together account for 28% of its revenue.

Worth noting: 2 of Progyny's largest investors are big pharmaceutical companies — GlaxoSmithKline and Merck KGaA.

Go deeper: The booming business of fertility

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Employers aren't changing their health benefits

Illustration: Sarah Grillo/Axios

Companies rarely switch the health plans they offer to their workers, and seem to be especially cautious in the 2020 election year.

The big picture: Medical and drug costs are crushing employers and workers alike. But altering benefits — which could require employees to change their doctors — could provoke even more anger.

Go deeperArrowOct 21, 2019

Health care stocks aren't having a great year

Data: FactSet; Chart: Axios Visuals

The stock prices of major health care companies have not kept pace with the broader market so far in 2019, even though the industry is flush with cash.

The bottom line: Medicare for All and other health care reforms floated by Democratic presidential candidates, as well as higher-than-expected medical costs at health insurance companies, have made investors nervous about the future.

Go deeperArrowOct 15, 2019

Elizabeth Warren investigates for-profit prison money

Illustration: Aïda Amer/Axios

Sen. Elizabeth Warren is no fan of private equity or private prisons, and Axios has learned that she wants answers from PE firms invested in prison services companies.

The big picture: Warren's goal is to determine if private equity ownership results in a lower standard of services, similar to an investigation she launched last month into PE-owned for-profit colleges.

Go deeperArrowOct 1, 2019