Public Reference

Industry Primers

Bottom-up NAICS industry primers written for both public-market and private investors. Leaf industries are researched from the ground up; every group, subsector, and sector above them reads as a contrast across the industries beneath it.

2122 industries · 24 sectors · NAICS 2022

Researched with AI assistance from official U.S. statistics and independent sources, with citations on every page. Figures are not individually verified against pinned evidence — primers marked Evidence-verified are. Industry research, not investment advice. Methodology.

National industryNAICS 621410Health Care and Social Assistance

Family Planning Centers (U.S.) — NAICS 621410

An industry primer for public-market and private investors.


1. Overview

Family planning centers are outpatient clinics whose main business is reproductive and sexual health care delivered outside a hospital or a general doctor's office: contraception (birth control), sexually transmitted infection (STI) testing and treatment, cancer and wellness screenings, pregnancy and prenatal counseling, voluntary sterilization, fertility services, and — where legal — abortion.[4] Think Planned Parenthood centers, county health-department clinics, independent reproductive-health clinics, and fertility (in-vitro fertilization, or IVF) practices.

The first thing to understand is that most of this care is not delivered by a normal for-profit, shareholder-owned industry. The contraception-and-abortion core is dominated by nonprofits and government. The single largest operator, Planned Parenthood, is a federation of tax-exempt charities; much of the rest is run by government health departments or federally funded community health centers. Money flows in through government reimbursement (mainly Medicaid), federal grants (Title X), private-insurance payments, patient sliding-scale fees, and philanthropy — not through equity markets.[6][8] The one clearly for-profit, consolidating corner is fertility/IVF, which runs on cash-pay patients and employer benefits.

  • Public-market investors: there is essentially no pure-play, publicly traded family-planning-center company. Listed exposure is indirect — through the suppliers and adjacent channels: contraceptive drug and device makers (e.g., Organon, Bayer), direct-to-consumer (DTC) telehealth platforms (e.g., Hims & Hers), fertility-benefit managers (Progyny), diagnostics labs (Labcorp), and diversified hospital systems (HCA).
  • Private investors: direct "ownership" of a contraception/abortion clinic is mostly not an equity opportunity — those operators are nonprofits and public agencies. The private-capital frontier is in fertility networks and women's-health management-services organizations (MSOs), in venture-backed reproductive-health telehealth and femtech, and in the pharmacy and manufacturing that supplies the clinics.

Why care about a low-margin, nonprofit-heavy field? Because it sits at the intersection of durable medical demand, a payment system anchored by Medicaid, and an unusually intense, fast-moving policy environment (Dobbs, Title X, Medicaid "defunding") that is reshaping where care is delivered and who pays for it — which is where value is migrating.


2. What it is and how it's structured

NAICS (the North American Industry Classification System) is the federal statistical coding scheme; 621410 sits inside industry group 6214 (Outpatient Care Centers), sector 62 (Health Care and Social Assistance).[4]

In scope (NAICS 621410): establishments with medical staff primarily engaged in providing a range of family planning services on an outpatient basis — contraceptive services, genetic and prenatal counseling, voluntary sterilization, and therapeutic or medically induced termination of pregnancy. The 2022 NAICS index explicitly lists abortion clinics, birth-control clinics, family planning centers, fertility clinics, childbirth-preparation classes, pregnancy-counseling centers, and reproductive-health services centers as illustrative examples.[4]

A definitional caveat that matters for sizing. Although the NAICS index names "fertility clinics," in practice most IVF care is delivered by physician-owned practices that are frequently classified as offices of physicians (NAICS 621111) rather than 621410, and private industry trackers (e.g., IBISWorld) treat "fertility clinics" as a separate industry from "family planning & abortion clinics."[5] So the tabulated 621410 establishment universe is dominated by the contraception/abortion/reproductive-health-clinic core, and the federal receipts below understate total spending on the broader set of reproductive services.

What is classified elsewhere:

  • Doctors' offices providing the same services as part of a general practice — offices of physicians (621111) and of other health practitioners.[4]
  • Hospitals (NAICS 622) and their outpatient departments.[4]
  • Health-maintenance-organization (HMO) medical centers, freestanding ambulatory surgical centers, and medical laboratories — coded to their own outpatient categories even when they provide reproductive-health services.[4]
  • Community health centers — federally qualified health centers (FQHCs) deliver a large share of publicly funded contraception but are coded to other outpatient/physician categories, not 621410.[9]
  • Contraceptive manufacturing — pill, IUD (intrauterine device), and implant makers are pharmaceutical/medical-device manufacturers (sector 31–33), not clinics.[4]

Ownership mix. Four groups do most of the work:

  1. Nonprofit specialty providers — above all Planned Parenthood, whose roughly four dozen (about 47–49, down from more than 100 decades ago) separately incorporated affiliates run its health centers and serve about 2.1 million patients a year.[11][14]
  2. Government — state and local health-department clinics. Among Title X–funded sites specifically, roughly half are operated by public health departments.[9]
  3. Independent nonprofit and for-profit clinics — e.g., carafem (owned by nonprofit FemHealth USA) and Whole Woman's Health — increasingly joined by telehealth providers that ship contraception and abortion medication directly to patients.[26][27]
  4. Private, investor-backed fertility and women's-health networks — usually built on an MSO model, in which a management company handles billing, technology, recruiting, procurement, and administration while the professional medical practice retains clinical control.

Because the federal business statistics below capture only employer establishments (largely nonprofit and for-profit) and exclude government-run clinics, the official numbers describe the specialty-clinic slice, not the entire delivery system.


3. How big it is

Federal ground-truth figures for NAICS 621410:

Metric Value Source (year)
Establishments (clinic locations, employers) 3,591 Census County Business Patterns, 2023[1]
Employment 34,441 Census County Business Patterns, 2023[1]
Annual payroll $2.25 billion Census County Business Patterns, 2023[1]
First-quarter payroll $568.6 million Census County Business Patterns, 2023[1]
Firms 1,671 Census 2022 Economic Census[2]
Receipts / revenue $4.62 billion Census 2022 Economic Census[2]
SBA small-business size standard $19 million avg. annual receipts SBA, 2023[3]

A private industry tracker, IBISWorld, independently estimates the "Family Planning & Abortion Clinics" market at roughly $4.7 billion in 2025, closely corroborating the federal receipts figure — notably, excluding fertility clinics, which IBISWorld counts as a separate, larger industry.[5]

Undercount caveat (important here). The federal statistics understate the reproductive-care footprint for three reasons:

  • Government clinics are out of scope. County Business Patterns (CBP) covers only businesses with paid employees and excludes government establishments and nonemployer businesses, and it suppresses some cells for confidentiality.[1] Health departments run a large part of the publicly funded family-planning network, and that capacity does not appear in the $4.62 billion.
  • Fertility economics sit mostly elsewhere. Because physician-run IVF practices are largely coded to offices of physicians, the multibillion-dollar U.S. fertility market is only partly captured in 621410.[5]
  • Care delivered in other settings is coded elsewhere. The same services provided inside FQHCs, hospitals, and physicians' offices count under other NAICS codes. Federally, only about 6% of all publicly supported family-planning clinics are Planned Parenthood sites; the majority are FQHCs and health departments.[9]

On paper the industry looks extraordinarily fragmented. The four largest firms account for just 11.9% of revenue (CR4), the top 8 for 21.4%, the top 20 for 36.1%, the top 50 for 55.4%, and the Herfindahl-Hirschman Index (HHI, a standard 0–10,000 market-concentration measure) is only 90.7 — near-atomistic.[2] That is not because the "brand" is fragmented (Planned Parenthood clearly dominates the contraception/abortion segment) but because Planned Parenthood is legally split into roughly four dozen independent affiliates, each counted as its own firm, sitting alongside hundreds of independents and (uncounted) public clinics.[11] The HHI here measures statistical structure, not profitability, quality, or patient access. The federal file contains no industry-wide figure for patient visits, capacity utilization, payer mix, or operating margin — where a metric is absent, we say so rather than estimate it.


4. The investable universe

There is no listed company whose core business is operating U.S. family-planning centers. The dominant contraception/abortion operators are nonprofits and government agencies that cannot be bought. Public and private investors reach the theme indirectly. The tickers below — New York Stock Exchange (NYSE), Nasdaq Stock Market (Nasdaq), and over-the-counter (OTC) — are illustrative, and in every case family planning is only a portion of the business.

Listed suppliers and adjacent channels:

Company Ticker Exposure and limitation
Hims & Hers Health NYSE: HIMS DTC telehealth; self-pay birth-control consultations, prescriptions, and delivery (via "Hers"). ~$2.3B revenue FY2025; reproductive care is a small slice.[15]
Organon & Co. NYSE: OGN Women's-health pharma spun out of Merck; sells Nexplanon (implant) and NuvaRing. Women's-health portfolio ~$1.8B, ~28% of 2024 revenue.[16]
Bayer OTC: BAYRY (Frankfurt: BAYN) Leading IUD maker (Mirena, Kyleena) plus oral contraceptives; product exposure, not clinic ownership.[18]
CooperCompanies Nasdaq: COO CooperSurgical owns and markets Paragard, the copper (non-hormonal) IUD.[19]
Perrigo NYSE: PRGO Makes Opill, the first over-the-counter (OTC) birth-control pill (FDA-approved 2023).[30]
Progyny Nasdaq: PGNY Fertility and family-building benefits sold to employers and health plans; a benefit manager, not a clinic owner.[20]
Labcorp NYSE: LH Reproductive genetics, fertility, sexual-health, and women's-health testing — lab exposure adjacent to 621410.[22]
HCA Healthcare NYSE: HCA Diversified hospitals, ambulatory sites, labs, and women's care; broad healthcare exposure.[21]

Private nonprofit and safety-net operators — not investable (no equity):

  • Planned Parenthood Federation of America and its roughly four dozen separately incorporated affiliates — the largest U.S. reproductive-health provider; ~2.1 million patients/year.[11][14]
  • Health departments and FQHCs — the majority of publicly funded family-planning sites.[9]
  • carafem (nonprofit FemHealth USA) and Whole Woman's Health / Whole Woman's Health Alliance — abortion-focused reproductive-health centers and virtual care.[26][27]

Private, investor-backed — the real equity frontier (mostly fertility/MSOs + telehealth):

  • U.S. Fertility — physician-owned, physician-led fertility network; 100+ clinic locations and 32 IVF laboratories.[23]
  • Inception Fertility (Prelude and CCRM brands) — private fertility network spanning clinics, labs, financing, and services.[24]
  • Unified Women's Healthcare — a private women's-health MSO; disclosed institutional investors include Altas Partners and Ares Management; the structure preserves physician-level clinical control.[25]
  • Reproductive-telehealth startups (Hey Jane, Wisp, Twentyeight Health, Aid Access, and peers) — mail-order contraception and, where lawful, abortion medication; the venture/femtech edge of the category.[14]

Takeaway: for public-market investors the exposure is "picks and shovels" — drugs, devices, labs, and DTC platforms. For private investors, ownable operating businesses cluster in fertility and women's-health MSOs and digital care, not in the safety-net contraception/abortion clinics themselves.


5. How the money works

The right lens is payer mix and reimbursement, not same-store sales or profit margins. Nonprofit owners "make money" only in the sense of covering the cost of care and generating a surplus to reinvest; the for-profit fertility and telehealth slices run on cash-pay and subscription models. Revenue comes from four broad streams:

  1. Insurance and government reimbursement — led by Medicaid. Medicaid (the joint federal-state health program for low-income people) lists family-planning services as a mandatory benefit, though rates and eligibility rules vary by state.[28] For the Title X–funded network, third-party payers (chiefly Medicaid plus other insurance) supply about 56% of grantees' revenue.[6]
  2. Title X grants and other public funding. Title X is the federal family-planning grant program (administered by HHS's Office of Population Affairs, or OPA). It funds free and reduced-cost services on a sliding fee scale, is worth roughly $286.5 million a year nationally (an appropriation frozen since 2014), and provides about 17% of a typical grantee's revenue; other federal, state, and local sources add roughly 27%.[6][7] Title X money cannot pay for abortion.[29]
  3. Patient self-pay, sliding-scale fees, and cash-pay fertility. The Affordable Care Act (ACA) requires most private plans to cover contraception with no out-of-pocket cost, so commercially insured patients are billed to their carriers; uninsured and low-income patients pay reduced fees scaled to income; IVF is largely paid in cash or through employer benefits.[6]
  4. Philanthropy and grants. Donations are a major line for Planned Parenthood in particular — roughly half of its ~$2 billion in annual revenue is non-government (private contributions, patient fees, and other income), while government health-services reimbursements and grants supply on the order of $800 million, about two-fifths of the total, in fiscal 2024–25.[11][12]

The margin lever most specific to the safety-net segment is drug pricing. Clinics that qualify for the federal 340B Drug Pricing Program buy contraceptives — including expensive long-acting reversible contraceptives (LARCs) like IUDs and implants — at steep discounts, then bill payers at higher reimbursement rates; the spread helps cross-subsidize free and reduced-cost care. Combined with low revenue per visit and heavy clinical-labor costs, this makes the economics volume-driven and thin: the model works when patient throughput, payer mix, and grant funding all hold, and breaks quickly when any one is cut. Because the federal file reports no industry-wide margin or utilization data, the operating metrics investors actually underwrite are site-level: appointment fill rate and unused capacity, visits per clinical hour, reimbursement per encounter, no-show rate, clinician retention, grant-renewal and donation stability, and — for fertility — IVF-cycle volume, lab utilization, clinical outcomes, and cash collection.


6. What drives demand

  • Reproductive-age population and contraceptive use. The base of demand is broad and recurring: in 2022–2023, 54.3% of U.S. females ages 15–49 were currently using contraception, led by the pill and LARCs (IUDs and implants).[17]
  • Insurance coverage and Medicaid eligibility. More people covered (via Medicaid and the ACA no-cost-contraception rule) means more reimbursable visits. Safety-net demand is somewhat counter-cyclical — when people lose employer coverage in a downturn, they lean on Medicaid and free clinics.
  • Public funding levels. Title X dollars, and whether major providers are included in or excluded from Medicaid, directly determine how many clinics can stay open.[7][8]
  • Abortion legality after Dobbs, and the telehealth shift. With abortion law now set state by state, demand shifts geographically — into states where it is legal and, increasingly, into telehealth. By 2025 roughly one-quarter of U.S. abortions were provided via telehealth; Guttmacher estimated clinicians provided about 72,000 telehealth abortions in 2024 rising to ~91,000 in 2025 to residents of states with total bans, under "shield-law" protection.[10][35]
  • STI and HIV testing (human immunodeficiency virus) and preventive screening drive a large share of routine clinic volume.
  • Employer and health-plan coverage of fertility expands the ownable, cash-pay fertility segment.
  • Channel shift to OTC and pharmacy. The 2023 approval of Opill (first OTC birth-control pill) and pharmacist-prescribed contraception widen access but can pull routine pill visits out of clinics.

Demand should stay economically resilient, but it is not recession-proof or policy-proof: volumes can move sharply with affordability, coverage, geography, and law.


7. Regulation

This is one of the most heavily and turbulently regulated corners of U.S. health care — the rules are the business.

  • Title X (federal grant rules). Sets who can receive family-planning grants and on what terms; projects must offer a broad range of methods, provide nondirective counseling and referrals on request, and may not use funds for abortion (42 CFR § 59.5).[29] Successive administrations have flipped the "gag rule" governing abortion counseling/referral, pushing providers in and out of the program. In March 2025, HHS withheld about $65.8 million from Title X projects, affecting 865 service sites of 16 grantees and an estimated 842,000 clients.[8]
  • Medicaid provider rules. In 2025 the Supreme Court (Medina v. Planned Parenthood South Atlantic) held that states may disqualify Planned Parenthood from their Medicaid networks.[8]
  • The One Big Beautiful Bill Act (OBBBA), signed July 4, 2025. Its family-planning provision barred Medicaid payments to large nonprofits that also provide abortion — effectively defunding Planned Parenthood for one year without naming it. The one-year prohibition expired July 4, 2026, restoring federal Medicaid eligibility.[8][13]
  • Dobbs v. Jackson (2022). Overturned the federal constitutional right to abortion, devolving legality to the states and creating today's patchwork of bans, protections, and cross-state "shield laws."[34][36]
  • FDA rules on medication. The Food and Drug Administration (FDA) authorizes contraceptive drugs and devices for safety and effectiveness; mifepristone's risk-management program (Risk Evaluation and Mitigation Strategy, or REMS) has permitted telehealth prescribing and mail dispensing since 2021 — enabling the telehealth surge — but remains under active litigation.[30][35]
  • Structural health-care rules. State medical licensing, scope-of-practice, and corporate-practice-of-medicine laws shape staffing, ownership, and MSO structures (the American Medical Association continues to back physician ownership and clinical control).[33] The Health Insurance Portability and Accountability Act (HIPAA) governs protected health information (PHI) — unusually sensitive here.[31] The Clinical Laboratory Improvement Amendments (CLIA), administered by the Centers for Medicare & Medicaid Services (CMS), govern the in-house and reference lab testing these clinics rely on.[32]
  • Also in play: the ACA contraceptive mandate; state TRAP laws (targeted regulation of abortion providers — clinic-specific licensing, facility, and admitting-privilege requirements); parental-consent and waiting-period laws; and 340B eligibility rules.[8]

8. Competitive dynamics and consolidation

"Competition" here is less about price wars than about network adequacy and geography — whether a clinic exists within reach of the people who need it. Patients value trust, clinician reputation, confidentiality, convenience, price, and speed of access, and those relationships are local.

  • Very low measured concentration. CR4 is 11.9% and the HHI is 90.7 — near-atomistic — mainly because Planned Parenthood is split into roughly four dozen independent affiliates rather than one firm.[2][11]
  • Consolidation within Planned Parenthood. Affiliates have merged into fewer, larger organizations (from over 100 historically to about four dozen) to gain administrative scale, even as the total clinic count shrinks.[11]
  • A shrinking brick-and-mortar footprint. Independent abortion-clinic closures roughly doubled in 2025 versus 2024, driven more by funding cuts than by bans; Planned Parenthood's FY2024–25 report warned that up to ~200 of its roughly 600 health centers are at risk of closure, and OBBBA's one-year defunding was tied to a further wave of center closures.[11][13][14]
  • Where scale genuinely pays off: payer contracting and billing, shared technology/scheduling/telehealth, drug-device-and-lab procurement, clinician recruiting and coverage, and grant/compliance/security administration.
  • Consolidation is most visible in fertility and women's-health MSOs, where labs, benefit contracts, technology, and back office can be shared (U.S. Fertility, Inception, Unified). Roll-ups are much harder in safety-net contraception and abortion care, where grants, donations, public reimbursement, physician-ownership rules, and political risk dominate the economics.
  • Substitution and new entrants. FQHCs are expanding into family planning (adding safety-net capacity, though research argues they cannot fully replace specialized providers), while telehealth entrants and OTC contraception (Opill) take share of routine, lower-acuity care — a genuinely disruptive, lower-cost, DTC wave.[9][14]

Net picture: a category consolidating and thinning at the physical-clinic level while fragmenting and growing at the digital/retail and fertility edges.


9. Risks

  • Funding whiplash — the dominant, near-existential risk. Safety-net clinics depend on Medicaid and Title X; a grant freeze, a Medicaid exclusion, or a defunding rider can push clinics into closure within months.[8][13]
  • Legal and political risk. State abortion bans, provider criminalization, mifepristone litigation, and clinic-targeted TRAP laws create ongoing operational and legal exposure across a shifting compliance map.[34][35]
  • Reimbursement pressure. Public payers pay low rates; thin, volume-driven margins leave little cushion, and claims can be delayed.[28]
  • Legal-structure risk (for-profit segments). MSO agreements that run afoul of state corporate-practice-of-medicine or physician-control rules can unwind a roll-up.[33]
  • Substitution risk. Telehealth and OTC channels erode in-person visit volume that fixed-cost clinics rely on.
  • Donor and philanthropy cyclicality. For Planned Parenthood especially, private contributions are large but sensitive to the political and economic cycle.[11]
  • Privacy, cyber, and physical-security risk. Reproductive-health records are highly sensitive and attractive targets, and clinics face political targeting and, at times, threats and violence.[31]
  • Concentration risk. Dependence on a single grant, payer, employer client, state, or referral network.
  • For the listed adjacents: regulatory risk to telehealth prescribing and DTC pharmacy is a direct threat to HIMS-style platforms; contraceptive-maker revenues (OGN, Bayer, COO) face pricing, patent, and 340B pressure; fertility-benefit and lab names carry employer-spend and volume cyclicality.[15][16]

10. How to invest, and the outlook

Public-market routes (all indirect). Treat the listed names as proxies, not measures of NAICS 621410, and check each one's actual segment exposure, payer mix, product dependence, geography, and any disclosure of reproductive-health revenue:

  • Contraceptive and device makers — Organon (OGN), Bayer (BAYRY), CooperCompanies (COO), Perrigo (PRGO) — the cleanest listed exposure, though family planning is one line among many.[16][18][19]
  • DTC telehealth — Hims & Hers (HIMS) — rides the channel shift to mail-order contraception, but reproductive care is a minor part of the business.[15]
  • Fertility benefits, labs, and diversified systems — Progyny (PGNY), Labcorp (LH), HCA (HCA) — adjacent exposure to fertility and women's-health volume.[20][21][22]
  • There is no ETF or listed operator giving targeted exposure to family-planning centers themselves.

Private-market routes. Equity in safety-net contraception/abortion clinics is largely unavailable (nonprofits/government); the way to support that segment is philanthropy and grants, not ownership. The genuine venture/growth-equity opportunity sits in fertility and women's-health MSOs (U.S. Fertility, Inception, Unified), reproductive-health telehealth and femtech, and the pharmacy/manufacturing that supplies both clinics and DTC platforms. Underwrite site-level data, not national receipts: clinical capacity and utilization, reimbursement by payer, grant renewal, clinician retention, legal ownership structure, patient safety, cyber controls, and cash conversion — and, in fertility, lab utilization, benefit-plan contracts, and outcomes.

Outlook (forward-looking judgment). Demand for contraception and reproductive care is stable-to-growing; the open questions are where it is delivered and who pays. The brick-and-mortar safety net is likely to keep consolidating and thinning under funding pressure — even after Planned Parenthood's federal Medicaid eligibility was restored in July 2026, political risk has not disappeared.[13] Capital, growth, and margin are migrating to the digital and retail edge (telehealth, mail-order pharmacy, OTC contraception) and to the cash-pay fertility segment, which is also where the only real equity opportunities sit. The durable conclusion for investors: the money in this industry is made in the suppliers, channels, and fertility/MSO infrastructure — the drugs, devices, labs, platforms, and back offices — rather than in the safety-net clinics, which remain a mission-driven, publicly financed, non-equity core. Federal receipts and payroll are useful scale indicators; they should not be used to infer national utilization or earnings.


Sources

  1. U.S. Census Bureau, County Business Patterns (2023), NAICS 621410 — Family Planning Centers. https://www.census.gov/programs-surveys/cbp.html
  2. U.S. Census Bureau, 2022 Economic Census, Concentration Statistics (EC2200CONCENTRATION / EC2200SIZECONCEN), NAICS 621410. https://data.census.gov
  3. U.S. Small Business Administration, Table of Small Business Size Standards (2023). https://www.sba.gov/document/support-table-size-standards
  4. U.S. Census Bureau, 2022 NAICS Definition — 621410 Family Planning Centers. https://www.census.gov/naics/?input=621410&year=2022
  5. IBISWorld, Family Planning & Abortion Clinics in the US — Industry Market Size (2025/2026). https://www.ibisworld.com/industry-statistics/market-size/family-planning-abortion-clinics-united-states/
  6. HHS Office of Population Affairs, 2023 Title X Family Planning Annual Report. https://opa.hhs.gov/research-evaluation/title-x-services-research/family-planning-annual-report
  7. Congressional Research Service, Title X Family Planning Program (IF10051), 2025. https://www.congress.gov/crs-product/IF10051
  8. KFF, An Update on Medicaid, Title X and Planned Parenthood (2025). https://www.kff.org/womens-health-policy/an-update-on-medicaid-title-x-and-planned-parenthood/
  9. Guttmacher Institute, Publicly Supported Family Planning Services in the United States; FQHCs and the Family Planning Safety Net. https://www.guttmacher.org/fact-sheet/publicly-supported-FP-services-US
  10. Guttmacher Institute, Full-Year 2025 Estimates: Abortion Incidence, Travel, and Telehealth Provision. https://www.guttmacher.org/report/full-year-estimates-show-overall-stability-abortion-incidence-decreased-travel-increased-telehealth-provision
  11. Planned Parenthood Federation of America, Annual Report 2024–2025 ("Care continues"). https://www.plannedparenthood.org/uploads/filer_public/cf/d0/cfd08bf5-480a-45da-bb38-c989e9647492/digital-2025-ppfa-annualreport-c3.pdf
  12. Charlotte Lozier Institute, Fact Sheet: Planned Parenthood's 2024–25 Annual Report (2026). https://lozierinstitute.org/fact-sheet-planned-parenthoods-2024-25-annual-report/
  13. The Hill, Planned Parenthood set to regain federal funding as GOP ban expires (2026). https://thehill.com/policy/healthcare/5952223-planned-parenthood-regains-funding/
  14. Healthcare Brew, Independent abortion clinic closures double in 2025 (2025). https://www.healthcare-brew.com/stories/2025/12/09/independent-abortion-clinic-closures-double
  15. Hims & Hers Health, Inc., Fourth Quarter and Full Year 2025 Financial Results (2026). https://investors.hims.com/
  16. Organon & Co., Form 10-K, Fiscal Year 2024. https://www.sec.gov/Archives/edgar/data/1821825/000182182525000006/ogn-20241231.htm
  17. Centers for Disease Control and Prevention, Current Contraceptive Status Among Females Ages 15–49: United States, 2022–2023 (NCHS Data Brief 539, 2025). https://www.cdc.gov/nchs/products/databriefs/db539.htm
  18. Bayer, Annual Report 2025 — Pharmaceuticals. https://www.bayer.com/en/investors/annual-reports
  19. CooperSurgical (CooperCompanies), Paragard Intrauterine Copper Contraceptive. https://www.coopersurgical.com/
  20. Progyny, Inc., Investor Relations. https://investors.progyny.com/
  21. HCA Healthcare, Specialties / Women's Care. https://www.hcahealthcare.com/patients/specialties
  22. Labcorp, Women's Health and Genetic Testing. https://womenshealth.labcorp.com/
  23. U.S. Fertility, About US Fertility. https://www.usfertility.com/about/
  24. Inception Fertility, About Us (Prelude, CCRM). https://www.inceptionfertility.com/about-us
  25. Unified Women's Healthcare / Altas Partners, Investment Announcement. https://www.altas.com/news/unified-womens-healthcare-announces-new-investment-from-altas-partners
  26. carafem (FemHealth USA), About Us. https://carafem.org/about-us
  27. Whole Woman's Health Alliance, About. https://www.wholewomanshealthalliance.org/
  28. Medicaid.gov, Mandatory & Optional Medicaid Benefits (family planning). https://www.medicaid.gov/medicaid/benefits/mandatory-optional-medicaid-benefits
  29. Electronic Code of Federal Regulations, 42 CFR § 59.5 — Requirements for a Family Planning Project. https://www.law.cornell.edu/cfr/text/42/59.5
  30. U.S. Food and Drug Administration, Birth Control; Opill (OTC) Approval. https://www.fda.gov/consumers/womens-health-topics/birth-control
  31. U.S. Department of Health and Human Services, HIPAA — Covered Entities and Business Associates. https://www.hhs.gov/hipaa/for-professionals/covered-entities/index.html
  32. Centers for Disease Control and Prevention, Clinical Laboratory Improvement Amendments (CLIA). https://www.cdc.gov/clia/
  33. American Medical Association, AMA Strengthens Opposition to Corporate Practice of Medicine (2026). https://www.ama-assn.org/press-center/ama-press-releases/ama-strengthens-opposition-corporate-practice-medicine
  34. Supreme Court of the United States, Dobbs v. Jackson Women's Health Organization (2022). https://www.supremecourt.gov/opinions/21pdf/19-1392_6j37.pdf
  35. KFF, The Intersection of State and Federal Policies on Access to Medication Abortion via Telehealth after Dobbs (2025). https://www.kff.org/womens-health-policy/the-intersection-of-state-and-federal-policies-on-access-to-medication-abortion-via-telehealth-after-dobbs/
  36. Guttmacher Institute, Shield Laws Related to Sexual and Reproductive Health Care (2026). https://www.guttmacher.org/state-policy/explore/shield-laws-sexual-and-reproductive-health-care