Kindbody Expands National Footprint with $1.15 Billion Valuation
NEW YORK, February 1, 2022 — Kindbody, a leading fertility and family-building care company, today announced that it has signed a merger agreement to acquire Vios Fertility Institute, a high-growth, innovative network of fertility clinics, to increase access to patient-centric, technology-driven care across the country. The transaction doubles Kindbody’s national footprint to 26 clinics with plans to expand to 40 retail locations by year’s end. Together, the companies performed nearly 10,000 fertility treatments in 2021 and served thousands of patients via their virtual and in-person services and is projected to double that in 2022.
Kindbody and Vios are both women-led companies driven by a mission and vision to revolutionize fertility care. Kindbody has transformed the fertility landscape through its design-forward clinics, state-of-the-art technology, and comprehensive virtual, at-home, and in-person care. Under the leadership of global fertility leader, Dr. Angeline Beltsos, Vios has developed deep experience and proven success in clinical operations, innovation, and scale. Vios clinics, located in Illinois, Michigan, Missouri, Oregon, Washington, and Wisconsin, will rebrand to Kindbody and integrate Kindbody’s proprietary patient portal, EMR (electronic medical record), and telehealth platform into the expanded operations to ensure a seamless continuum of care.
As part of the transaction, Dr. Beltsos will become Chief Executive Officer, Clinical, designing and leading Kindbody’s medical team. Annbeth Eschbach has been promoted from President to Chief Executive Officer, Corporate, and will ensure operational excellence and consistent growth across the country; and, Vios President Gregory Poulos will assume the role of President of the combined company. Gina Bartasi, Kindbody’s Founder and CEO, will oversee a newly formed holding company leading expansion and vision for the combined entity.
“We founded Vios with a mission of an unparalleled patient experience and a vision of building families dreamed of by our patients,” said Dr. Angeline Beltsos, Founder and CEO of Vios. “Now, more people will have access to the personalized, high-touch experience they have come to expect from both Kindbody and Vios. Together, we have the opportunity to revolutionize fertility and family-building care and make it more accessible for all. I’m excited for what the future holds.“
Incoming Chief Executive Officer, Corporate, Annbeth Eschbach said, “We welcome Dr. Beltsos and the entire innovative Vios team to Kindbody. This union brings together two organizations with shared values and alignment around unwavering empathy for patient experience and outcomes. Together, we double our size, reach, and strengths in fertility care to serve our large enterprise clients and more patients everywhere.”
In addition to its proprietary technology, Kindbody has 78 employer clients serving more than 350,000 covered lives. “Large employers have been asking for more Kindbody locations to serve their employees and now, together with Vios, we’re better able to meet this demand. Angie is one of a kind and we couldn’t be more aligned philosophically around patient-centered care. After more than a decade of friendship and respect for her work, I’m thrilled to bring together our combined strengths to further accelerate our mission to make fertility care more affordable and accessible for all,” added Gina Bartasi.
Last year was a record year for consolidation in the digital healthcare sector with M&A activity up 44% from 2020, according to CB Insights State of Digital Health 2021 report. Investments in the US digital health market also skyrocketed in 2021 reaching a record $37.9B. The number of global digital health “unicorns,” or startups that reach a valuation of $1B, reached a record of 85, up 49% over the previous year, according to the report. Kindbody is uniquely positioned for success in the digital healthcare sector because it provides both care navigation and care delivery with more than 64 providers across the country. The announcement follows Kindbody’s expansion into at-home testing earlier this month, beginning with fertility hormone test kits for women and men.
Kindbody was founded in 2018 and is led by a best in class leadership team including Founder and Chair, Gina Bartasi; CEO, Corporate, Annbeth Eschbach; CEO, Clinical, Dr. Angeline Beltsos; President, Gregory Poulos; Chief Medical Officer, Dr. Lynn Westphal; Chief Innovation Officer, Dr. Fahimeh Sasan, Chief Business and Legal Officer, Shilpa Patel; Chief Scientific Officer, Dr. Dean Morbeck; Chief Revenue Officer, Taryn Branca; Chief Marketing Officer, Anna Levikova; Chief Technology Officer, Richard Forsythe; Chief Accounting Officer, Brian Goldfarb; Chief Strategy Officer, Hannah Johnson; Chief Genomics Officer, Dr. Amber Cooper; Chief Clinical Research Officer, Dr. Roohi Jeelani; and Chief Financial Officer, Meredith Whitney. Kindbody’s Advisory Board includes Dr. Jacques Cohen, Larry Leisure, Cindy Gentry, Kerry Van Voris, Kimber Lockhart and Andy Grover.
About Vios Fertility Institute
Established in 2015, Vios Fertility Institute is one of the fastest growing fertility clinics in the U.S. with 13 locations in the Chicago, Detroit, Milwaukee, Portland, and St. Louis regions. Woman owned, the Vios mission is to help patients find their way to fertility health with the highest chances of success. Vios offers innovative, scientific, and cutting-edge treatment options along with an unparalleled patient experience. Visit www.ViosFertility.com to learn more.
Kindbody is a leading fertility and family-building care company offering state-of-the-art technology, comprehensive virtual and in-person care, and an employer benefits solution. Kindbody’s clinically managed program includes fertility assessments and education, fertility preservation, genetic testing, in vitro fertilization (IVF), donor and surrogacy services, and adoption, as well as physical, mental, and emotional support from preconception through postpartum. Kindbody is the trusted fertility benefits solution for more than 78 employers, covering more than 350,000 lives. Many thousands more receive their fertility care directly from Kindbody throughout the country at signature clinics, mobile clinics, and partner clinics. As the fertility benefits solution, the technology platform, and direct provider of high-quality care, Kindbody delivers a seamless, integrated experience with superior health outcomes at lower cost, making fertility care more affordable and accessible for all. Kindbody has raised $122 million in funding from leading investors including Perceptive Advisors, GV (formerly Google Ventures), RRE Capital, Claritas Health Ventures, Rock Springs Capital, NFP Ventures, and TQ Ventures. Visit www.kindbody.com and follow us on Instagram, Twitter, and Facebook.
Contact: Margaret Ryan, Head of Communications, Kindbody, [email protected]