Fertility Clinic Network and Employer Benefits Provider on Track for Full Year Revenue of $180 Million, Reflecting 50% Year-Over-Year Growth
NEW YORK, December 5, 2023 /PRNewswire/ – Kindbody, the leading national fertility clinic network and global family-building benefits provider for employers, today announced that it is on track to generate revenue of approximately $180 million in fiscal year 2023. This represents 50% organic year-over-year growth, positioning Kindbody as a leader among its healthcare and fertility peers today and earning it a top ten percent ranking on the 2023 Deloitte Technology Fast 500™ list.
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 guarantees savings of 25%-30% to employers by contracting directly with Kindbody to provide comprehensive virtual and in-person care for their employees. As the direct provider of care, Kindbody is uniquely positioned to decrease cost, improve the patient experience, and deliver better health outcomes.
Kindbody has seen growing interest in its hybrid solution of both virtual and in-person care, which is differentiated from legacy solutions which only provide for virtual care navigation. The 2024 Large Employer Health Care Strategy Survey conducted by Business Group on Health cited that virtual only solutions are on the decline as hybrid solutions emerge as the newer, preferred solution, “[Employers’] changing views are due to concerns regarding whether or not all forms of virtual health result in positive impacts on outcomes, quality, cost, experience, and integration.”
The Company attributes its high growth to its substantial investments in technology and state-of-the-art fertility clinics. With 33 clinics operating today, and an additional eight scheduled to open over the next few months, Kindbody has an extensive geographical footprint to provide exceptional care nationwide to its growing network of employer clients and patients. Kindbody’s technology investments have enabled it to achieve thought leadership and innovation in an industry ripe for change.
“2023 is an exceptional year for Kindbody, highlighted by record levels of revenue and our clinic financials with 60% gross margin and just under 50% contribution margin, indicating interest in family-building care continues to grow among employers and consumers alike,” said Annbeth Eschbach, CEO of Kindbody. “In five short years, Kindbody has emerged as one of the fastest growing companies in North America with 132 employer clients covering dozens of industries from education and retail, to aerospace and transportation. Our record growth demonstrates the excellence of Kindbody’s offerings and differentiated business model, setting new benchmarks in the fertility and family-building industry.”
Kindbody Chief Financial Officer Scott Bruckner commented, “While investing in growth, we will experience operating losses, which is typical of a growth stage company. In Kindbody’s five-year operating history, the payoff from our investments is evident with our clinics already generating positive contribution margin on a consolidated basis and our operating losses improving 36% during fiscal year 2023. This puts the Company on track to be EBITDA positive in 2024 and free cash flow positive in late 2024/early 2025, ultimately capturing significant market share of the $80 billion fertility industry.“
Bruckner added, “Kindbody’s top line growth in 2023 was all organic. Several planned acquisitions that would have taken the Company to well over $200 million in revenue will be considered for 2024/2025. Without any M&A, our 2024 revenue guidance is for 50% year-over-year growth, with a top-line range of $270 million to $300 million. What investors favor is the significant revenue scale and stickiness of our employer offering coupled with the attractive gross margins of fertility clinics — it is unusual to see these tech-like margins in healthcare. Of course, what CFOs at major employers favor is a more affordable, transparent fertility benefits solution which provides them meaningful, guaranteed savings.”
Kindbody owns and operates 33 signature clinics throughout the U.S. in Arkansas, California, Colorado, District of Columbia, Georgia, Illinois, Maryland, Michigan, Missouri, New Jersey, New York, Texas, Washington, and Wisconsin. To schedule an appointment, visit kindbody.com/book. Employers who wish to learn more about how Kindbody delivers the best patient experience and outcomes while reducing healthcare costs can contact solutions@kindbody.com.
About Kindbody Kindbody is the leading national fertility clinic network and global family-building benefits provider for employers offering the full spectrum of reproductive care from preconception to postpartum through menopause. Kindbody is the trusted fertility benefits provider for 132 leading employers, covering almost 2.7 million 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 provider, technology platform, and direct provider of 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 $315 million in debt and equity funding from leading investors including Perceptive Advisors, JP Morgan Chase’s Morgan Health, GV (formerly Google Ventures), RRE Ventures, Claritas Health Ventures, Rock Springs Capital, Distributed Ventures, Whatif Ventures and TQ Ventures. Visit www.kindbody.com. and follow us on Instagram, Twitter, and Linkedin.
Clinic: New York Doctor: Nicole Browne Conditions: Male Factor Infertility, Endometriosis Treatments: Embryo Preimplantation Genetic Testing, In Vitro Fertilization (IVF)
Introduction: A New Beginning at Kindbody
Our journey to parenthood wasn't straightforward. After a disheartening experience with a local fertility clinic, my husband Michael and I made the decision to transfer our care to Kindbody. The journey from Pennsylvania to New York signified a new chapter in our quest to start a family.
Understanding the Challenge: Male Factor Infertility
We were dealing with male factor infertility, a challenge that initially seemed daunting. Our first interaction with Kindbody’s doctors was a game-changer. It instilled in us a strong sense of confidence. "We knew immediately that Kindbody was going to be the right choice for us, and we were right!" I remember thinking.
The Right Choice: First Impressions and Decisions
Our first impressions of Kindbody solidified our decision. There was a feeling of being understood and genuinely cared for, a stark contrast to our previous experiences. The level of empathy and professionalism we encountered was unlike anything we'd seen before.
A Supportive Journey: Overcoming Distance and Difficulties
The physical distance we traveled for our treatments – from PA to NY and NJ – was considerable, but the support we received made it manageable. "It was a long road with lots of back and forth, but Dr. Browne and the entire team kept encouraging and rooting for us," I recall.
Transforming a Negative Experience: The First Egg Retrieval with Kindbody
My first egg retrieval experience was far from pleasant. Sharing this with Kindbody’s team made a difference. They tailored their approach to ensure my comfort, leading to a much more positive experience.
Resilience Through Loss: Coping with an Ectopic Pregnancy
Our first transfer, unfortunately, ended in an ectopic pregnancy. It was a devastating blow. But we weren't alone. The Kindbody team stood by us, offering comfort and support during this challenging time.
Dedication to Success: Dr. Browne's Thorough Approach
Dr. Browne's thoroughness before proceeding with another transfer was remarkable. "She wouldn’t just go right into another transfer without doing a bunch of tests first," I appreciated. Her dedication to uncovering the root cause of our ectopic pregnancy was instrumental.
Overcoming Endometriosis: A Path to Successful Transfer
A minor case of endometriosis was discovered and treated. We weren't certain if it was the cause of our struggles, but addressing it led to a successful second transfer. The relief and joy we felt were indescribable.
Nicole's Advice for Fellow Fertility Journeyers
Be patient, ask questions, do research, breathe, most importantly lean into each other or who ever your support person is. You are not alone. This process is hard and exhausting, but you will soon realize how strong you are. It makes having a family that much more special.
Closing Thoughts: Gratitude and Hope
Reflecting on our journey, our hearts are full of gratitude. The road was tough, but the care and expertise at Kindbody not only helped us overcome our challenges but also filled us with hope. Our successful journey is a testament to their dedication and compassion.
Step closer to the family you've always envisioned.
"
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Clinic: Washington, D.C. Conditions: Advanced Maternal Age, Endometriosis, Fibroids, Unexplained infertility Treatments: Embryo Preimplantation Genetic Testing, In Vitro Fertilization (IVF) Support: Kindbody Support Groups Members of LGBTQ Community
Below, Briana generously shares her heartfelt journey in her own words below, detailing her experience with Kindbody and the path to building her family. We are deeply thankful to her for opening up about her personal story.
Introduction: A Dream in the Making
For over ten years, my wife and I harbored a dream – to build our family. It's been a path filled with hope, setbacks, and numerous treatments, including four rounds of IUI and two rounds of IVF. Despite these efforts, success remained elusive until we found Kindbody.
Finding Hope with Kindbody
Our journey took a turn when Kindbody opened its doors in DC. Inspired by other success stories and after another disappointing round at a different clinic, we decided to entrust our hopes to Kindbody. The decision felt right, like we had finally found our place.
A Personalized Approach: Feeling Heard and Cared For
From our first consult at Kindbody, we felt heard. Every staff member, from the front desk to the back office, showed genuine care. Particularly pivotal was our decision to undergo a myomectomy and later, the ERA and ReceptivaDX tests – steps that other clinics hadn't suggested but which Kindbody recommended considering our unique situation.
Turning Point: Trusting the Process and Team at Kindbody
Our journey with Kindbody was filled with emotional highs and lows. We faced the challenging reality of having just one viable embryo after testing. Yet, the support and guidance of the Kindbody team never wavered. They were with us at every step, offering hope and expertise.
The Final Stretch: Our Path to Pregnancy
The final embryo transfer was a moment filled with mixed emotions, especially since we were aware this could be our last chance. The Kindbody team's expertise and reassurance were invaluable. Waiting for the results was agonizing, but their constant support made the process bearable.
Gratitude and Reflections: Our Success and Kindbody’s Role
Now, at 15 weeks pregnant, we look back with immense gratitude. This journey wasn't just about the treatments but about finding a team who listened and understood us. Kindbody wasn't just a clinic; it was a partner in our journey, a beacon of hope.
Closing Thoughts: A Message of Hope and Appreciation
To those still on their journey to parenthood, know that finding the right team and clinic makes a world of difference. We are a testament to the miracles that can happen when you're in the right hands. Our heartfelt thanks go to Kindbody – for not just their medical expertise but for their unwavering support and understanding.
Step closer to the family you've always envisioned.
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Leading National Fertility Clinic Network and Global Family-Building Benefits Provider Named to Prestigious Listing for Record Growth and Technological Innovation
NEW YORK, Nov. 8, 2023 /PRNewswire/ -- Kindbody, the leading national fertility clinic network and global family-building benefits provider for employers, today announced it was ranked No. 30 on the Deloitte Technology Fast 500™, which recognizes the fastest growing and most innovative technology companies in North America. Kindbody grew nearly 6,000% during the period of 2019 to 2022 due to the growing demand for fertility and family-building care from employers and patients nationwide.
"We are thrilled to receive this honor from Deloitte and be recognized alongside so many of the world's most innovative companies," said Scott Bruckner, Chief Financial Officer of Kindbody. "This recognition is a testament not only to our exponential growth, but also to the passion of our incredible team, the partnership of our clients, and how essential accessible and affordable fertility and family-building care is in our lives today and will be for years to come."
Kindbody's Chief Technology Officer Richard Forsythe added, "We are immensely honored to receive this prestigious award, which not only recognizes our team's dedication to innovation, but also affirms our commitment to investing time and talent into advancing technology to better serve our physicians and patients."
Since 2018, Kindbody has led the reproductive health industry as the only family-building benefits provider for employers that owns and operates fertility clinics, as well as its significant technology investments. Kindbody's proprietary technology is centered on its HIPAA-compliant electronic medical record (KindEMR) for increased standardization of care, offering online scheduling for virtual and in-person appointments and an intuitive patient portal. The KindEMR supports the full spectrum of reproductive health and family-building care including both female and male fertility, fertility preservation, genetic testing, in vitro fertilization (IVF), donor and surrogacy services, and adoption. Additionally, the KindEMR has the capability to integrate holistic care that is critical to successful fertility and family-building journeys such as nutrition and mental health support. Kindbody has built workflows into its KindEMR that are designed to support all paths to parenthood and personalized care plans for every fertility journey regardless of sex, sexual orientation, gender identity, or marital status. As the care provider, Kindbody gives patients the ability to securely message their doctor, chat with their embryologist, and access real time insights into assessments and blood test results any time of the day or night. The entire patient journey from consultation to postpartum care, mental health to nutrition support, and billing and benefit information, is organized in one place connecting the dots across the fertility care continuum.
"As for growing companies, it's always rewarding to be recognized for the ongoing commitment it takes to navigate obstacles, transform when necessary, and ultimately create a thriving business," said Christie Simons, partner, Deloitte & Touche LLP and industry leader for technology, media, and telecommunications within Deloitte's audit and assurance practice. "Over the nearly 30 years we've been compiling the Technology Fast 500 we've seen new categories emerge, growth rates explode, and certain regional markets shine from the bright talent they attract. We are proud of all the winners for achieving this well-deserved honor."
Placement on the Deloitte Technology Fast 500 is the latest in the string of growth, innovation, and workplace-related recognition Kindbody has garnered in 2023. This year, Kindbody was named to the 2023 CNBC Disruptor 50, Forbes America's Best Startup Employers, the New York Digital Health 100 (DH100), The Top 50 Business Leaders of New York, and ranked no. 17 on LinkedIn's Top 50 Startups list.
Kindbody owns and operates 33 signature clinics throughout the U.S. in Arkansas, California, Colorado, District of Columbia, Georgia, Illinois, Maryland, Michigan, Missouri, New Jersey, New York, Texas, Washington, and Wisconsin. To schedule an appointment, visit kindbody.com/book. Employers who wish to learn more about how Kindbody delivers the best patient experience and outcomes while reducing healthcare costs can contact solutions@kindbody.com.
About the 2023 Deloitte Technology Fast 500
Now in its 29th year, the Deloitte Technology Fast 500 provides a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2019 to 2022.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least US $50,000, and current-year operating revenues of at least US $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Clinic: St. Louis Kindbody Doctor:Dr. Amber Cooper Conditions: Advanced Maternal Age, Infertility, Endometriosis Treatments: In Vitro Fertilization (IVF)
Introduction
Meet Jennifer, an extraordinary individual who embarked on an astounding journey to motherhood against all odds. Her story with Kindbody and the exceptional care provided by Dr. Amber Cooper at Kindbody St. Louis is nothing short of a true miracle. Jennifer faced multiple challenges, including infertility, advanced maternal age, and severe endometriosis, but with the guidance of Dr. Cooper and the support of the Kindbody staff, she overcame these hurdles to become a proud mother of identical twin boys.
Battling Infertility and Endometriosis
Jennifer's journey began with the heartbreaking diagnosis of infertility, compounded by the presence of severe endometriosis. Scarred fallopian tubes added further complexity to her path to motherhood. Determined to overcome these obstacles, Jennifer sought the expertise of Dr. Amber Cooper at Kindbody St. Louis.
A Comprehensive Plan for Success
After thorough consultation and discussions with Dr. Cooper, a tailored plan was crafted to maximize Jennifer's chances of achieving her dream of motherhood. Her scarred fallopian tubes were removed, paving the way for more effective treatments. Two months later, Jennifer embarked on an incredible journey of three consecutive rounds of IVF, commonly referred to as a triple stim.
A Miraculous Outcome
Jennifer's unwavering determination and Dr. Cooper's expertise led to a remarkable outcome. A fresh day three embryo transfer resulted in a pregnancy that would bring not one, but two bundles of joy into Jennifer's life. She became the proud mother of identical twin boys.
Forever Grateful
"My heart is forever full that I got blessed to be a Mommy to my sweet handsome boys, and am truly forever grateful for Dr. Cooper and the Kindbody staff for all of their support and expertise!" Jennifer's words echo the profound gratitude she feels for the incredible journey she's been on, made possible by the care and expertise of the Kindbody team.
A Tale of Miracles and Motherhood
Jennifer's journey to motherhood is a testament to the power of hope, resilience, and expert care. Her story inspires us all and exemplifies the miracles that can happen with the right guidance and a supportive community.
We sincerely thank Jennifer for sharing her incredible journey, and we extend our warmest wishes to her and her beautiful family for a future filled with love, joy, and endless blessings.
"
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Clinic: Chicago Kindbody Doctor: Angeline N. Beltsos Conditions: Advanced Maternal Age, Unexplained Infertility Treatments: Minimally Invasive Surgery, In Vitro Fertilization (IVF)
Introduction
Meet Kristin and Shay, a remarkable couple whose journey to parenthood led them to Kindbody's Chicago clinic. Battling infertility can be a challenging and emotional experience, but with the guidance of Dr. Angeline N. Beltsos and the compassionate Kindbody team, Kristin and Shay found hope, support, and ultimately, the joy of parenthood.
A Difficult Start
"After months of unsuccessfully trying to conceive on our own, I sought treatment as I knew time was of the essence," Kristin recalls. Facing unexplained infertility and the ticking clock, they began exploring their options. Kristin's background in the fertility field gave her unique insights into the world of clinics, practices, and success rates. Among the choices, Kindbody (formerly Vios) stood out as the clear choice.
A Team of Compassion and Expertise
What sets Kindbody apart? Kristin emphasizes, "I was always met with professionalism, compassion, and sincerity when interacting with everyone at the clinic." From the moment they walked through the doors, the Kindbody team, including receptionists, sonographers, phlebotomists, nurses, embryologists, and doctors, offered unwavering support.
Efficiency and Efficacy
While the warmth of the team was heartwarming, Kristin and Shay were equally impressed by the clinic's efficiency and the efficacy of their treatments. With Dr. Beltsos's expertise, they explored minimally invasive surgery and IVF as potential solutions to their challenges.
Empowering Words for New Journey Starters
Kristin shares valuable advice for individuals just beginning their fertility journey: "It is scary when family building isn't going as planned, but don't push that fear aside. Empower your fear with action and schedule a consult, get a second opinion, educate yourself as much as possible with options, and make your decision armed with information rather than leaving the future up to chance."
Two Miracles
"Because of the expertise of my practitioners, I am happy to say that we have two wonderful children who fill our home with love and chaos," Kristin joyfully shares. Their journey, though not without its struggles, led them to the beautiful destination of parenthood.
Conclusion: A Journey of Hope and Triumph
Kristin and Shay's story is a testament to the power of hope, perseverance, and expert care. At Kindbody, we are honored to have been a part of their journey and to continue helping individuals and couples build their families, one success story at a time.
Step closer to the family you've always envisioned.
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Fertility Clinic Network and Employer Benefits Provider on Track for Full Year Revenue of $180 Million, Reflecting 50% Year-Over-Year Growth
NEW YORK, December 5, 2023 /PRNewswire/ – Kindbody, the leading national fertility clinic network and global family-building benefits provider for employers, today announced that it is on track to generate revenue of approximately $180 million in fiscal year 2023. This represents 50% organic year-over-year growth, positioning Kindbody as a leader among its healthcare and fertility peers today and earning it a top ten percent ranking on the 2023 Deloitte Technology Fast 500™ list.
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 guarantees savings of 25%-30% to employers by contracting directly with Kindbody to provide comprehensive virtual and in-person care for their employees. As the direct provider of care, Kindbody is uniquely positioned to decrease cost, improve the patient experience, and deliver better health outcomes.
Kindbody has seen growing interest in its hybrid solution of both virtual and in-person care, which is differentiated from legacy solutions which only provide for virtual care navigation. The 2024 Large Employer Health Care Strategy Survey conducted by Business Group on Health cited that virtual only solutions are on the decline as hybrid solutions emerge as the newer, preferred solution, “[Employers’] changing views are due to concerns regarding whether or not all forms of virtual health result in positive impacts on outcomes, quality, cost, experience, and integration.”
The Company attributes its high growth to its substantial investments in technology and state-of-the-art fertility clinics. With 33 clinics operating today, and an additional eight scheduled to open over the next few months, Kindbody has an extensive geographical footprint to provide exceptional care nationwide to its growing network of employer clients and patients. Kindbody’s technology investments have enabled it to achieve thought leadership and innovation in an industry ripe for change.
“2023 is an exceptional year for Kindbody, highlighted by record levels of revenue and our clinic financials with 60% gross margin and just under 50% contribution margin, indicating interest in family-building care continues to grow among employers and consumers alike,” said Annbeth Eschbach, CEO of Kindbody. “In five short years, Kindbody has emerged as one of the fastest growing companies in North America with 132 employer clients covering dozens of industries from education and retail, to aerospace and transportation. Our record growth demonstrates the excellence of Kindbody’s offerings and differentiated business model, setting new benchmarks in the fertility and family-building industry.”
Kindbody Chief Financial Officer Scott Bruckner commented, “While investing in growth, we will experience operating losses, which is typical of a growth stage company. In Kindbody’s five-year operating history, the payoff from our investments is evident with our clinics already generating positive contribution margin on a consolidated basis and our operating losses improving 36% during fiscal year 2023. This puts the Company on track to be EBITDA positive in 2024 and free cash flow positive in late 2024/early 2025, ultimately capturing significant market share of the $80 billion fertility industry.“
Bruckner added, “Kindbody’s top line growth in 2023 was all organic. Several planned acquisitions that would have taken the Company to well over $200 million in revenue will be considered for 2024/2025. Without any M&A, our 2024 revenue guidance is for 50% year-over-year growth, with a top-line range of $270 million to $300 million. What investors favor is the significant revenue scale and stickiness of our employer offering coupled with the attractive gross margins of fertility clinics — it is unusual to see these tech-like margins in healthcare. Of course, what CFOs at major employers favor is a more affordable, transparent fertility benefits solution which provides them meaningful, guaranteed savings.”
Kindbody owns and operates 33 signature clinics throughout the U.S. in Arkansas, California, Colorado, District of Columbia, Georgia, Illinois, Maryland, Michigan, Missouri, New Jersey, New York, Texas, Washington, and Wisconsin. To schedule an appointment, visit kindbody.com/book. Employers who wish to learn more about how Kindbody delivers the best patient experience and outcomes while reducing healthcare costs can contact solutions@kindbody.com.
About Kindbody Kindbody is the leading national fertility clinic network and global family-building benefits provider for employers offering the full spectrum of reproductive care from preconception to postpartum through menopause. Kindbody is the trusted fertility benefits provider for 132 leading employers, covering almost 2.7 million 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 provider, technology platform, and direct provider of 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 $315 million in debt and equity funding from leading investors including Perceptive Advisors, JP Morgan Chase’s Morgan Health, GV (formerly Google Ventures), RRE Ventures, Claritas Health Ventures, Rock Springs Capital, Distributed Ventures, Whatif Ventures and TQ Ventures. Visit www.kindbody.com. and follow us on Instagram, Twitter, and Linkedin.
Fertility Clinic Network and Employer Benefits Provider on Track for Full Year Revenue of $180 Million, Reflecting 50% Year-Over-Year Growth NEW YORK, December 5, 2023 /PRNewswire/ – Kindbody, the leading […]
Discover Nicole and Michael’s journey with Dr. Nicole Browne at Kindbody-New York, navigating the complexities of male factor infertility and endometriosis. Their story of overcoming challenges with the help of Dr. Browne culminates in the joyous arrival of their sweet baby girl, showcasing the triumph of hope and dedicated care.
Join Briana and Portia’s moving journey through the challenges of Advanced Maternal Age, Endometriosis, Fibroids, and Unexplained Infertility. Their story highlights the power of In Vitro Fertilization, Embryo Preimplantation Genetic Testing, and the support they found in Kindbody Support Groups, underscoring the strength of the LGBTQ community in overcoming fertility hurdles.
Leading National Fertility Clinic Network and Global Family-Building Benefits Provider Named to Prestigious Listing for Record Growth and Technological Innovation NEW YORK, Nov. 8, 2023 /PRNewswire/ — Kindbody, the leading national fertility clinic […]
Jennifer’s journey with Kindbody and Dr. Amber Cooper at Kindbody St. Louis is a remarkable tale of triumph over infertility and endometriosis. Against all odds, she became the proud mother of identical twin boys, a true testament to the miracles that can happen with expert care and unwavering determination.
Meet Kristin and Shay, a remarkable couple whose journey to parenthood led them to Kindbody’s Chicago clinic. Battling infertility can be a challenging and emotional experience, but with the guidance of Dr. Angeline N. Beltsos and the compassionate Kindbody team, Kristin and Shay found hope, support, and ultimately, the joy of parenthood.
