ProgenyHealth, a national leader in maternity and NICU care management, has received a significant growth investment from healthcare-focused private equity firm Cressey & Company, with continued support from existing investor Sunstone Partners.
The investment will support ProgenyHealth’s continued expansion to reach more patients and improve maternal and infant health outcomes nationwide. Since Sunstone Partners’ initial investment in 2017, ProgenyHealth has quadrupled its business organically and managed over 140,000 NICU births.
“At ProgenyHealth, we take pride in being on the front lines of maternity and NICU care management, providing essential support and contributing to improved results for moms and babies,” said Susan Torroella, Chief Executive Officer of ProgenyHealth. “We are extremely proud for Cressey & Company to join us and for Sunstone Partners to continue to support us in our mission to improve outcomes through personalized care management, parental engagement, and provider collaboration.”
Founded in 2003 by Ellen Stang, MD, ProgenyHealth partners with health plans, physicians, and families to improve clinical outcomes, enhance member and provider experience, and lower the total cost of care. The company uses its proprietary technology platform, Baby Trax, to integrate utilization management and case management while driving payment validation and assurance activities based on clinical data.
“When I founded ProgenyHealth, my goal was to build a company dedicated to whole-person health—one that proactively identifies challenges and solves for barriers to optimize maternal and infant outcomes,” said Dr. Stang. “I am incredibly proud of all that we have accomplished as a team and look forward to continuing my involvement with the company in the years ahead.”
Cressey & Company, which specializes in healthcare services and information technology businesses, will provide ProgenyHealth with specialized resources and healthcare expertise to support accelerated growth. Sunstone Partners, which originally invested in ProgenyHealth in 2017, remains a significant investor alongside Cressey and the ProgenyHealth management team.
“We are thrilled to partner with both ProgenyHealth and Sunstone Partners for this next chapter of growth for the company,” said Steven Dildine, Partner at Cressey. “Our goal is to partner with forward-thinking, mission-driven businesses, and we see a tremendous opportunity for ProgenyHealth to continue expanding access to high-quality care and drive positive impact for patients, providers, and payers across the maternal and infant health continuum.”
The financial terms of the investment were not disclosed.
