Progyny Strengthens Board of Directors with Appointment of Healthcare Leader and Advocate

Rhea-AI Summary

Progyny (Nasdaq: PGNY) announced the appointment of Lloyd Dean to its Board of Directors, effective August 30, 2022. Dean, the Chief Executive Emeritus of CommonSpirit Health, brings over 40 years of healthcare experience. Progyny's CEO, Pete Anevski, expressed confidence that Dean's expertise will enhance the company’s growth and leadership in fertility and family building benefits. Following this appointment, the Board now consists of ten members. Dean will serve on the Nominating and Corporate Governance Committee, focusing on expanding access to fertility solutions.

Positive

• Appointment of Lloyd Dean, enhancing board expertise.
• Expected growth in fertility benefits management due to Dean's experience.

Negative

• Concerns about continuity in leadership despite new expertise.

NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Progyny, Inc. (Nasdaq: PGNY), a leading benefits management company specializing in fertility and family building benefits solutions, today announced the appointment of a new member to its board of directors, effective August 30, 2022. Joining the board is Lloyd Dean, Chief Executive Emeritus and Founding Executive of CommonSpirit Health.

“I am excited to welcome Lloyd to the Board and believe the value he brings from his experience on expanding access to healthcare will be an asset as we explore how we can further our reach when it comes to infertility and family building,” said Pete Anevski, Chief Executive Officer of Progyny. “He brings complementary skills and experiences to the company that will help us continue on our path of high growth and industry leadership.”

Mr. Dean will serve on the Nominating and Corporate Governance Committee. Following this appointment, the Progyny Board now consists of ten directors.

Mr. Dean brings to Progyny over 40 years of practice in improving health and expanding access to healthcare for all. As a Founding Executive of CommonSpirit Health, one of the nation’s largest not-for-profit healthcare companies, Mr. Dean delivered on his vision of a healthcare system that uses innovative partnerships, modern technology, and human kindness so that more Americans can live in a healthier future. He was instrumental in creating CommonSpirit Health in February 2019, when Dignity Health and Catholic Health Initiatives combined to form one of the nation’s leading providers of Medicaid and other healthcare services. Previously, he was CEO from 2019 to 2022, and prior to that, Mr. Dean was President and CEO of Dignity Health from 2012 to 2019, which grew under his leadership from a holding company into a dynamic healthcare enterprise.

As an advocate for healthcare, Mr. Dean has served on many federal and state advisory panels and participated in regional and national charity and advocacy organizations. Since August 2015, Mr. Dean has also served on the board of directors of McDonald's Corporation. Additionally, Mr. Dean currently serves on the board of directors of Cal Poly State University Foundation, Carnegie Hall, CommonSpirit Health Foundation, Golden Arrow Merger Corp, and Guidehouse. Mr. Dean holds a Bachelor of Science in Sociology and a Master's in Education from Western Michigan University, an honorary Doctorate of Humane Letters from the University of San Francisco, and an honorary Doctor of Science degree from Morehouse School of Medicine, California State University and California Polytechnic State University.

“I am honored to join a company that continues to deliver exceptional clinical outcomes, reduce healthcare spending for employers, and deliver an unparallel patient experience while expanding its footprint into other markets and industries,” said Mr. Dean. “It’s clear Progyny is the brand of choice for large employers when it comes to family building benefits, and I look forward to supporting its growth and value for all of its stakeholders.”

For more information visit www.progyny.com.

About Progyny

Progyny (Nasdaq: PGNY) is a leading fertility benefits management company. We are redefining fertility and family building benefits, proving that a comprehensive and inclusive solution can simultaneously benefit employers, patients, and physicians.

Our benefits solution empowers patients with education and guidance from a dedicated Patient Care Advocate (PCA), provides access to a premier network of fertility specialists using the latest science and technologies, reduces healthcare costs for the nation’s leading employers, and drives optimal clinical outcomes. We envision a world where anyone who wants to have a child can do so.

Headquartered in New York City, Progyny has been recognized for its leadership and growth by CNBC Disruptor 50, Modern Healthcare’s Best Places to Work in Healthcare, Financial Times, INC. 5000, and Crain’s Fast 50 for NYC. For more information, visit www.progyny.com.

For Further Information, Please Contact:

Investors:

James Hart

investors@progyny.com

Media:

Selena Yang

media@progyny.com

FAQ

Who is Lloyd Dean and what is his background related to PGNY?

Lloyd Dean is the Chief Executive Emeritus of CommonSpirit Health and has over 40 years of healthcare experience. He has significantly contributed to expanding healthcare access.

What is the expected impact of Lloyd Dean's appointment on PGNY?

Lloyd Dean's extensive healthcare background is expected to support Progyny's growth and solidify its leadership in fertility benefits.

When did Lloyd Dean join Progyny's board of directors?

Lloyd Dean joined Progyny's board of directors on August 30, 2022.

How many members are on Progyny's Board of Directors after Dean's appointment?

After Lloyd Dean's appointment, Progyny's Board of Directors now consists of ten members.