US Fertility announces CEO transition
ROCKVILLE, Md., Sept. 22, 2022 /PRNewswire/ — US Fertility (“USF” or the “Company”), the nation’s largest partnership of physician-owned fertility practices, announced today that Richard Jennings will join USF as a member of the Board of Directors, effective immediately, and will assume the role of CEO, effective January 1, 2023, to lead the company into its next chapter of expansion and growth. Mark Segal, who has led the Company and its predecessor Shady Grove Fertility (“SGF”), for the last 25 years as CEO, will become Chairman of the Board.
During his time as Co-Founder and CEO, Mr. Segal positioned the Company as the leading fertility network in the country with advanced business and digital solutions to streamline and enhance assisted reproductive technology. US Fertility now comprises 120 physicians in the most experienced fertility centers across the country with a network of clinics that perform more than 30,000 IVF cycles annually.
Mr. Segal said, “It has been a privilege to lead US Fertility and its partner practices, through its incredible evolution and growth over the years, and I am immensely proud of what we have accomplished together so far. As we have grown, we have significantly increased the support and resources of our partner practices, allowing them to help more than 130,000 individuals and couples achieve their dreams and build a family. Richard brings deep experience within the reproductive industry and shares the mission and values of USF and its partner physicians. I am confident that he is the right leader to build on our success to date as we continue to innovate and leverage best practices to improve outcomes and increase patient access.”
Michael Levy, Co-Founder of SGF and USF Board member commented, “Richard brings complementary strengths to our corporate management. He is a seasoned executive who has been successful in implementing strategic growth initiatives within life sciences, and I look forward to working closely with him and Mark to drive long-term, continued success.”
Jay Rose, Managing Director at Amulet Capital and USF Board member commented, “Mark has been a powerful force in shaping US Fertility and the reproductive industry. USF today is the leading fertility platform in the industry, and as we prepare for the next phase of the company’s growth, Richard’s proven track record and strategic vision will benefit all patients, partners, and the industry at large as we continue to invest in the business, to innovate and expand our industry-leading competencies.”
Mr. Jennings said, “I am honored to take on the role of CEO and lead US Fertility during this time of growth. Having worked with many of its incredible physician partners, and following the Company’s remarkable growth over the years, it is clear that the positive impact on reproductive patients is truly unmatched. Mark and the USF physician partners have been the driving force behind this company over the past 25 years and have positioned the Company for success in the future. I am looking forward to working with Mark and the Board to ensure that the company remains the premier and most trusted reproductive service provider in the country.”
Before joining US Fertility, Mr. Jennings spent the last two decades working in healthcare. Most recently he served as the CEO of Generate Life Sciences, overseeing the operations and long-term strategy of its industry-leading brands providing reproductive, stem cell, and genetic services to help grow and protect families, including California Cryobank, Donor Egg Bank, CBR (Cord Blood Registry), and ReadyGen. Prior to Generate, he spent time as CEO of California Cryobank Life Sciences, CEO of MediScan Diagnostics, and Hospital Administrator for Centinela Freeman Health System. Mr. Jennings holds a Bachelor of Science degree in Chemical Engineering, and an MBA from Harvard Business School.
About US Fertility
US Fertility is the nation’s largest partnership of physician-owned and physician-led top-tier fertility practices in the United States, offering comprehensive fertility-market-focused non-clinical, administrative, and technical platforms that help domestic and international practices improve patient outcomes and increase patient access. To learn more about partnership- or affiliate-status benefits, call 301-545-1308 or visit USFertility.com.
About Amulet Capital
Amulet Capital Partners is a middle-market private equity investment firm that focuses exclusively on creating long-term value for market leaders in the healthcare sector. The experienced principals at Amulet currently manage over $1.7 billion in healthcare investments. With over 50 years of deep industry experience and strategic relationships, Amulet helps solve complex and dynamic challenges in a wide range of healthcare segments.