================================================================================

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

                   [X] QUARTERLY REPORT PURSUANT TO SECTION 13
                     OR 15(d) OF THE SECURITIES EXCHANGE ACT
                                     OF 1934

                  For the quarterly period ended June 30, 2006

                                       OR

             [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                        For the transition period from to

                           Commission File No. 0-20260

                            IntegraMed America, Inc.
             (Exact name of Registrant as specified in its charter)


                Delaware                                 06-1150326
    (State or other jurisdiction of         (I.R.S. employer identification no.)
    incorporation or organization)


        Two Manhattanville Road
          Purchase, New York                                10577
 (Address of principal executive offices)                 (Zip code)


                                 (914) 253-8000
              (Registrant's telephone number, including area code)


     Indicate by check mark if the registrant is a well-known  seasoned  issuer,
as defined in Rule 405 of the Securities Act. Yes _____ No __X__

     Indicate by check mark if the  registrant  is not  required to file reports
pursuant to Section 13 or Section 15(d) of the Act. Yes _____No __X__

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes X No ______

     Indicate by check mark if disclosure of delinquent filer pursuant to Item
405 of Regulation S-K (17 CFR 229.405) is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K [ ].

     Indicate by check mark whether the registrant is a large accelerated filer,
an accelerated filer, or a non-accelerated filer. See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check
one): Large Accelerated Filer Accelerated Filer____ Non-Accelerated Filer__X__.

     Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act.
Yes       No __X__


         The aggregate number of shares of the Registrant's Common Stock, $.01
par value, outstanding on July 24, 2006 was 6,462,776.

===============================================================================
<PAGE>




                            INTEGRAMED AMERICA, INC.
                                    FORM 10-Q

                                TABLE OF CONTENTS

                                                                           PAGE

PART I  -    FINANCIAL INFORMATION

    Item 1.  Financial Statements (unaudited)

                Consolidated Balance Sheets at June 30, 2006 and
                   December 31, 2005.......................................... 3

                Consolidated Statements of Income for the three-month and
                   six-month periods ended June 30, 2006 and 2005 ............ 4

                Consolidated Statements of Shareholders' Equity for the
                   six-month period ended June 30, 2006 ...................... 5

                Consolidated Statements of Cash Flows for the six-month
                   periods ended June 30, 2006 and 2005 ...................... 6

                Notes to Consolidated Financial Statements ................ 7-11

    Item 2.  Management's Discussion and Analysis of Financial Condition
                and Results of Operations................................  12-19

    Item 3.  Quantitative and Qualitative Disclosures About Market Risk.......19

    Item 4.  Controls and Procedures...................................... 19-20


PART II -    OTHER INFORMATION

    Item 1.  Legal Proceedings................................................21

    Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds......21

    Item 3.  Defaults upon Senior Securities..................................21

    Item 4.  Submission of Matters to a Vote of Security Holders..............21

    Item 5.  Other Information................................................21

    Item 6.  Exhibits ........................................................21


SIGNATURES            ........................................................22

CERTIFICATIONS PURSUANT TO 18 U.S.C. ss.1350, AS ADOPTED PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002.....................................  EXHIBITS


CERTIFICATIONS PURSUANT TO 18 U.S.C ss.1350, AS ADOPTED PURSUANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002.....................................  EXHIBITS



                                       2
<PAGE>



PART I -- FINANCIAL INFORMATION

    Item 1.      Consolidated Financial Statements
<TABLE>

                            INTEGRAMED AMERICA, INC.
                           CONSOLIDATED BALANCE SHEETS
                (all dollars in thousands, except share amounts)
                                     ASSETS
<CAPTION>
                                                                                       June 30,   December 31,
                                                                                       --------   ------------
                                                                                         2006         2005
                                                                                       --------   ------------
                                                                                     (unaudited)
<S>                                                                                    <C>         <C>
ASSETS
Current assets:
   Cash and cash equivalents .......................................................   $ 25,948    $ 22,521
   Pharmaceutical and other receivables, net .......................................        468         490
   Deferred income taxes, net ......................................................      1,060       1,080
   Prepaids and other current assets ...............................................      3,551       2,768
                                                                                       --------    --------
       Total current assets ........................................................     31,027      26,859

   Fixed assets, net ...............................................................     14,213      14,877
   Exclusive Service Rights and other intangibles, net .............................     21,727      22,434
   Deferred income taxes, net ......................................................        335         815
   Other assets ....................................................................        674         590
                                                                                       --------    --------
       Total assets ................................................................   $ 67,976    $ 65,575
                                                                                       ========    ========

                      LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
   Accounts payable ................................................................   $    765    $    917
   Accrued liabilities .............................................................      9,224       8,023
   Current portion of long-term notes payable and other obligations ................      1,509       1,500
   Due to medical practices ........................................................      4,576       4,949
   Shared Risk Refund program patient deposits .....................................      5,719       4,739
                                                                                       --------    --------
       Total current liabilities ...................................................     21,793      20,128

Long-term notes payable and other obligations ......................................      7,932       8,647
                                                                                       --------    --------

Total Liabilities ..................................................................     29,725      28,775

Commitments and Contingencies

Shareholders' equity:
   Common Stock, $.01 par value - 15,000,000 shares authorized; 6,462,776 and
     6,378,284 shares issued and
     outstanding in 2006 and 2005, respectively ....................................         65          64
   Capital in excess of par ........................................................     49,930      49,734
   Accumulated other comprehensive income ..........................................        (44)       --
   Deferred Compensation ...........................................................       (958)       (354)
   Treasury stock, at cost - 4,570 and 132,210 shares in 2006 and 2005, respectively        (44)       (937)
   Accumulated deficit .............................................................    (10,698)    (11,707)
                                                                                       --------    --------
       Total shareholders' equity ..................................................     38,251      36,800
                                                                                       --------    --------

       Total liabilities and shareholders' equity ..................................   $ 67,976    $ 65,575
                                                                                       ========    ========


        See accompanying notes to the consolidated financial statements.
</TABLE>

                                       3
<PAGE>

<TABLE>
                            INTEGRAMED AMERICA, INC.
                        CONSOLIDATED STATEMENTS OF INCOME
              (all amounts in thousands, except per share amounts)

<CAPTION>

                                                   For the               For the
                                             three-month period     six-month period
                                               ended June 30,        ended June 30,
                                             ------------------     ----------------
                                              2006        2005       2006       2005
                                             ------     -------     ------     -----
                                                 (unaudited)           (unaudited)

<S>                                         <C>         <C>         <C>         <C>
Revenues, net
   Provider Services ....................   $ 28,977    $ 25,851    $ 56,773    $ 51,585
   Consumer Services ....................      2,853       6,366       5,511      12,615
                                            --------    --------    --------    --------
       Total revenues ...................     31,830      32,217      62,284      64,200
                                            --------    --------    --------    --------

Costs of revenues:
   Provider Services costs ..............     26,249      23,046      51,281      46,065
   Consumer Services costs ..............      1,804       5,576       3,444      11,187
                                            --------    --------    --------    --------
       Total costs of revenues ..........     28,053      28,622      54,725      57,252
                                            --------    --------    --------    --------

Contribution
   Provider Services contribution .......      2,728       2,805       5,492       5,520
   Consumer Services contribution .......      1,049         790       2,067       1,428
                                            --------    --------    --------    --------
       Total contribution ...............      3,777       3,595       7,559       6,948

General and administrative expenses .....      2,952       2,865       6,004       5,699
Interest income .........................       (260)       (115)       (481)       (215)
Interest expense ........................        199          70         358         167
                                            --------    --------    --------    --------
       Total other expenses .............      2,891       2,820       5,881       5,651
                                            --------    --------    --------    --------

Income before income taxes ..............        886         775       1,678       1,297
Income tax provision ....................        353         308         669         516
                                            --------    --------    --------    --------

Net income ..............................   $    533    $    467    $  1,009    $    781
                                            ========    ========    ========    ========

Basic and diluted net earnings per share:
   Basic earnings per share .............   $   0.08    $   0.08    $   0.16    $   0.13
                                            ========    ========    ========    ========
   Diluted earnings per share ...........   $   0.08    $   0.07    $   0.15    $   0.12
                                            ========    ========    ========    ========

   Weighted average shares - basic ......      6,443       6,000       6,469       5,975
   Weighted average shares - diluted ....      6,555       6,336       6,581       6,310

</TABLE>

        See accompanying notes to the consolidated financial statements.





                                       4
<PAGE>
<TABLE>


                                                  INTEGRAMED AMERICA, INC.
                                       CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
                                                 (all amounts in thousands)
                                                         (unaudited)

<CAPTION>

                                                                 Accumulated Other
                                      Common Stock     Capital in  Comprehensive  Deferred    Treasury Stock  Accumulated  Total
                                     Shares   Amount  Excess of Par    Income   Compensation  Shares   Amount   Deficit    Equity
                                     ------   -----   ------------  ----------- ------------  ------   ------   -------    ------


<S>                                  <C>        <C>    <C>             <C>          <C>          <C>   <C>      <C>       <C>
BALANCE AT DECEMBER 31, 2005         6,378      $64    $49,734         $  --        $(354)       132   $ (937)  $(11,707) $36,800
Net income for the six months
   ended June 30, 2006...........       --       --         --            --           --         --       --      1,009    1,009
Stock grants issued, net.........       82        1        804            --         (805)         4      (44)        --      (44)
Stock grant amortization.........       --       --         --            --          201         --       --         --      201
Exercise of common stock options.      147        1        362            --           --         12     (121)        --      242
Amortization of common stock options    --       --         87            --           --         --       --         --       87
Gain (loss) on hedging transaction      --       --         --           (44)          --         --       --         --      (44)
Cancellation and retirement of
   treasury stock................     (144)      (1)    (1,057)           --           --       (144)   1,058         --       --
                                     -----      ---    -------         -----        -----        ---   ------   --------  -------
BALANCE AT June 30, 2006.........    6,463      $65    $49,930          $(44)       $(958)         4   $  (44)  $(10,698) $38,251
                                     =====      ===    =======         =====        =====        ===   ======   ========  =======

</TABLE>


        See accompanying notes to the consolidated financial statements.



                                       5
<PAGE>


<TABLE>

                            INTEGRAMED AMERICA, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                           (all amounts in thousands)
<CAPTION>


                                                                              For the
                                                                         six-month period
                                                                          ended June 30,
                                                                        ------------------
                                                                         2006        2005
                                                                        ------      ------
                                                                           (unaudited)
<S>                                                                    <C>         <C>
Cash flows from operating activities:
    Net income .....................................................   $  1,009    $    781
    Adjustments to reconcile net income to
    Net cash provided by (used in) operating activities:
      Depreciation and amortization ................................      2,820       2,652
      Deferred income tax provision ................................        500         341
      Stock-based compensation .....................................        201         126
    Changes in assets and liabilities Decrease (increase) in assets:
         Pharmaceutical and other accounts receivable ..............         22           4
         Prepaids and other current assets .........................       (783)     (1,688)
         Other assets ..............................................        (84)       (173)
      Increase (decrease) in liabilities:
         Accounts payable ..........................................       (152)        409
         Accrued liabilities .......................................      1,288        (815)
         Due to medical practices ..................................       (373)         42
         Shared Risk Refund program patient deposits ...............        980       1,822
                                                                       --------    --------
Net cash provided by operating activities ..........................      5,428       3,501

Cash flows from investing activities:
    Payment for exclusive FertilityPartners service rights .........       --        (3,329)
    Purchase of fixed assets and leasehold improvements ............     (1,449)     (3,015)
                                                                       --------    --------
Net cash used in investing activities ..............................     (1,449)     (6,344)

Cash flows from financing activities:
    Issuance debt ..................................................       --         1,000
    Principal repayments on debt ...................................       (714)       (575)
    Principal repayments under capital lease obligations ...........        (36)        (34)
    Proceeds from exercise of stock options and other ..............        198         209
                                                                       --------    --------
Net cash provided by (used in) financing activities ................       (552)        600

Net increase (decrease) in cash and cash equivalents ...............      3,427      (2,243)
Cash and cash equivalents at beginning of period ...................     22,521      11,300
                                                                       --------    --------
Cash and cash equivalents at end of period .........................   $ 25,948    $  9,057
                                                                       ========    ========

Supplemental Information:
     Interest paid .................................................   $    348    $    167
     Income taxes paid .............................................   $    247    $    965

</TABLE>


        See accompanying notes to the consolidated financial statements.



                                       6
<PAGE>



                            INTEGRAMED AMERICA, INC.
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (unaudited)

NOTE 1 -- INTERIM RESULTS:

     The accompanying unaudited consolidated financial statements have been
prepared in accordance with the instructions to Form 10-Q and, accordingly, do
not include all of the information and footnotes required by generally accepted
accounting principles for complete financial statements. In the opinion of
management, the accompanying unaudited interim financial statements contain all
adjustments (consisting only of normal recurring accruals) necessary to present
fairly the financial position at June 30, 2006, and the results of operations
and cash flows for the interim periods presented. Operating results for the
interim period are not necessarily indicative of results that may be expected
for the year ending December 31, 2006. These financial statements should be read
in conjunction with the audited financial statements and notes thereto included
in IntegraMed America's Annual Report on Form 10-K for the year ended December
31, 2005.

     Certain amounts from our June 30, 2005 presentations have been reclassified
to conform with our current 2006 presentation.

NOTE 2 -- COMMON SHARES OUTSTANDING:

     All common share numbers reported herein reflect the 30% Stock Split
effected in the form of a stock dividend declared by the Board of Directors on
May 23, 2005 and paid to shareholders on June 22, 2005; and the 25% stock split
effected in the form of a stock dividend declared by the Board of Directors on
May 22, 2006 and paid on June 21, 2006.


NOTE 3 -- EARNINGS PER SHARE:

     The reconciliation of the numerators and denominators of the basic and
diluted EPS computations for the three and six-month periods ended June 30, 2006
and 2005 is as follows (000's omitted, except for per share amounts):
<TABLE>
<CAPTION>

                                                      For the                For the
                                                three-month period      six-month period
                                                  ended June 30,         ended June 30,
                                                ------------------      ----------------
                                                  2006      2005         2006      2005
                                                -------   --------      -------  -------
<S>                                              <C>      <C>           <C>      <C>
Numerator
Net Income ...................................   $  533   $  467        $1,009   $  781

Denominator
Weighted average shares outstanding (basic) ..    6,443    6,000         6,469    5,975
Effect of dilutive options and warrants ......      112      336           112      335
                                                 ------   ------        ------   ------
Weighted average shares and dilutive potential
     Common shares (diluted) .................    6,555    6,336         6,581    6,310
Basic EPS ....................................   $ 0.08   $ 0.08        $ 0.16   $ 0.13
                                                 ======   ======        ======   ======
Diluted EPS ..................................   $ 0.08   $ 0.07        $ 0.15   $ 0.12
                                                 ======   ======        ======   ======
</TABLE>


     For the three and six-month periods ended June 30, 2006 and 2005, there
were no outstanding options or warrants to purchase shares of Common Stock which
were excluded from the computation of the diluted earnings per share amount as
the exercise prices of all outstanding options and warrants was less than the
average market price of the shares of Common Stock.


                                       7
<PAGE>



                            INTEGRAMED AMERICA, INC.
             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED
                                   (unaudited)

NOTE 4 -- SEGMENT INFORMATION:

     We currently report two major lines of business, our Provider Services,
which is comprised of our FertilityPartners and Affiliate segments, and our
Consumer Services, which is comprised of our Shared Risk and Pharmaceutical
segments. Performance by segment, for the three month and six month periods
ended June 30, 2006 and June 30, 2005, is presented below.
<TABLE>
<CAPTION>

                                                                 Providers                 Consumers
                                                                 ---------                 ---------
                                                          Fertility                  Shared
                                               Corporate  Partners    Affiliates      Risk    Pharmaceutical     Consolidated
                                               ---------  --------    ----------      ----    --------------     ------------
<S>                                             <C>        <C>           <C>        <C>             <C>           <C>
For the three months ended June 30, 2006
     Revenues.............................      $  --      $28,669       $308       $2,751          $102          $31,830
     Cost of Services.....................         --       26,249         --        1,876           (72)          28,053
                                              -------      -------       ----         ----          ----          -------
     Contribution.........................         --        2,420        308          875           174            3,777
     Operating Margin.....................         --          8.4%     100.0%        31.8%        170.6%            11.9%

     General and administrative...........      2,952           --         --           --            --            2,952
     Interest, net........................        (61)          --         --           --            --              (61)
                                              -------      -------       ----         ----          ----          -------
     Income before income taxes...........     (2,891)       2,420        308          875           174              886
     Depreciation expense included above..       $149         $917       $ --         $ --          $ --          $ 1,066
     Capital expenditures.................       $254         $512       $ --         $ --          $ --          $   766
     Total assets.........................    $26,038      $40,426       $318         $221          $973          $67,976


For the six months ended June 30, 2006
     Revenues.............................      $  --      $56,186       $587       $5,256          $255          $62,284
     Cost of Services.....................         --       51,280          1        3,516           (72)          54,725
                                              -------      -------       ----         ----          ----          -------
     Contribution.........................         --        4,906        586        1,740           327            7,559
     Operating Margin.....................         --          8.7%      99.8%        33.1%        128.2%            12.1%

     General and administrative...........      6,004            --        --           --            --            6,004
     Interest, net........................       (123)           --        --           --            --             (123)
                                              -------      -------       ----         ----          ----          -------
     Income before income taxes...........     (5,881)       4,906        586        1,740           327            1,678
     Depreciation expense included above..       $288       $1,825       $ --         $ --          $ --          $ 2,113
     Capital expenditures.................       $428       $1,021       $ --         $ --          $ --          $ 1,449
     Total assets.........................    $26,038      $40,426       $318         $221          $973          $67,976

For the three months ended June 30, 2005
     Revenues.............................      $  --      $25,631       $220       $1,941        $4,425          $32,217
     Cost of Services.....................         --       23,053         (7)       1,317         4,259           28,622
                                              -------      -------       ----         ----          ----          -------
     Contribution.........................         --        2,578        227          624           166            3,595
     Operating Margin.....................         --         10.1%     103.2%        32.1%          3.8%            11.2%

     General and administrative...........      2,865           --         --           --            --            2,865
     Interest, net........................        (45)          --         --           --            --              (45)
                                              -------      -------       ----         ----          ----          -------
     Income before income taxes...........     (2,820)       2,578        227          624           166              775
     Depreciation expense included above..       $109         $891       $ --         $ --          $ --          $ 1,000
     Capital expenditures.................       $299         $638       $ --         $ --          $ --          $   937
     Total assets.........................    $11,741      $42,850       $ 66         $317        $1,793          $56,767

</TABLE>


                                       8
<PAGE>
<TABLE>

<CAPTION>


                                                                 Providers                 Consumers
                                                                 ---------                 ---------
                                                          Fertility                  Shared
                                               Corporate  Partners    Affiliates      Risk    Pharmaceutical     Consolidated
                                               ---------  --------    ----------      ----    --------------     ------------

<S>                                            <C>         <C>           <C>        <C>           <C>             <C>
For the six months ended June 30, 2005
     Revenues.............................     $   --      $51,118       $467       $3,451        $9,164          $64,200
     Cost of Services.....................         --       46,020         45        2,377         8,810           57,252
                                              -------      -------       ----         ----          ----          -------
     Contribution.........................         --        5,098        422        1,074           354            6,948
     Operating Margin.....................         --         10.0%      90.4%        31.1%         3.9%             10.8%

     General and administrative...........      5,699           --         --            --           --            5,699
     Interest, net........................        (48)          --         --            --           --              (48)
                                              -------      -------       ----         ----          ----          -------
     Income before income taxes...........     (5,651)       5,098        422        1,074           354            1,297
     Depreciation expense included above..       $201       $1,744       $ --       $   --        $   --          $ 1,945
     Capital expenditures.................       $563       $2,452       $ --       $   --        $   --          $ 3,015
     Total assets.........................    $11,741      $42,850       $ 66       $  317        $1,793          $56,767

As of December 31, 2005
     Total assets.........................    $21,934      $41,207       $ 46       $  241        $2,147          $65,575
</TABLE>

NOTE 5 - DUE TO MEDICAL PRACTICES:

     Due to Medical Practices is comprised of the net amounts owed by us to
medical practices contracted as FertilityPartners. This balance is comprised of
amounts due to us by the medical practices for funds, which we advanced for use
in financing their accounts receivable, less balances owed to the medical
practices by us for undistributed physician earnings and patient deposits we
hold on behalf of the medical practices.

     As of June 30, 2006 and December 31, 2005, Due to Medical Practices was
comprised of the following balances:

                                                    2006            2005
                                                  ---------      --------

       Advances to FertilityPartners............  $(13,367)      $(12,727)
       Undistributed Physician Earnings.........     3,080          3,721
       Physician Practice Patient Deposits......    14,863         13,955
                                                  --------       --------
       Due to Medical Practices, net............  $  4,576       $  4,949
                                                  ========       ========


NOTE 6 -- STOCK-BASED EMPLOYEE COMPENSATION:

     As of June 30, 2006, we had two stock-based employee compensation plans,
which are described more fully in Note 13 of the financial statements in our
most recent Annual Report on Form 10-K.

      In December 2004, the FASB issued SFAS No. 123 (revised 2004), "Share
Based Payment" ("SFAS No. 123(R)"). SFAS No. 123(R) supersedes APB Opinion No.
25, "Accounting for Stock Issued to Employees". In 2005, we used APB Opinion No.
25 to account for the value of stock options granted to employees. Effective
January 1, 2006, we adopted SFAS No. 123(R). For the three months and six months
ended June 30, 2006, we recorded a charge to earnings to recognize compensation
expense of $27,000 and $87,000, respectively, related to the value of
outstanding stock options issued in prior years which vested in 2006. As of June
30, 2006, we had no unrecognized compensation costs related to stock options
which had been previously granted under our plans as all options are currently
vested.

                                       9
<PAGE>

     We also issue restricted stock grants to officers and members of the Board
of Directors. Stock granted to Board members vests immediately and stock granted
to officers vests over a period of three years. Our General and Administrative
expense includes compensation costs recognized in connection with these
restricted stock grants of $105,000 and $201,000 for the three and six month
periods ended June 30, 2006, and $60,000 and $126,000 for the three and six
month periods ended June 30, 2005.

NOTE 7 -- HEDGING TRANSACTION:

     In the normal course of business we are exposed to the risk that our
earnings and cash flows could be adversely impacted by market driven
fluctuations in the level of interest rates. It is our policy to manage these
risks by using a mix of fixed and floating rate debt and derivative instruments.

During the second quarter of 2006, we entered into an interest rate swap
agreement designed to hedge the risks associated with our floating rate debt. As
a result of this agreement, our net income includes financing costs associated
with this transaction of approximately $10,000 in the second quarter of 2006,
and we expect to record additional financing costs of $8,000 over the coming
twelve months, given current interest rate forecasts. In addition to the costs
included in our reported net income, this hedge also generated a non-recognized
loss of approximately $44,000 which is reported as part of our comprehensive
income.

We deem this hedge to be highly effective as it shares the same valuation,
termination date and amortization schedule as the underlying debt subject to the
hedge. In addition the swap transaction was structured such that the change in
fair value of the swap inversely mimics the hedged item. As of June 30, 2006, we
had no other hedge or derivative transactions.

The following table summarizes total comprehensive income for the applicable
periods (000's omitted):

                                                 For the           For the
                                           three-month period  six-month period
                                             ended June 30,     ended June 30,
                                           ------------------  -----------------
                                               2006    2005       2006    2005
                                              ------  ------     ------  -----

Net income as reported ......................  $533    $467      $1,099   $781
Net gain (loss) on derivative transactions...   (44)     --         (44)    --
                                               ----    ----      ------   ----
Total comprehensive income...................  $489    $467      $  965   $781
                                               ====    ====      ======   ====



NOTE 8 -- LITIGATION:

     From time to time, we are party to legal proceedings in the ordinary course
of business. As of June 30, 2006, none of these proceedings is expected to have
a material adverse effect on our financial position, results of operations or
cash flow.




                                       10
<PAGE>



NOTE 9 -- RECENT ACCOUNTING STANDARDS:

     In July 2006, the Financial Accounting Standards Board ("FASB") issued FASB
Interpretation  No. 48,  "Accounting  for  Uncertainty in Income Taxes" (FIN No.
48). FIN No. 48  addresses  the  accounting  for  uncertainties  in income taxes
recognized in financial  statements in accordance  with FASB  Statement No. 109,
"Accounting  for Income  Taxes." This  interpretation  establishes a recognition
threshold and measurement attributes for the financial statement recognition and
measurement of tax positions  taken or expected to be taken in a tax return.  We
do not expect the  adoption of this  standard  to have a material  effect on our
financial statements.

     In February 2006, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Standard "(SFAS") No. 155, "Accounting for Certain Hybrid
Instruments", which is an amendment of SFAS No. 133, "Accounting for Derivative
Instruments and Hedging Activities". SFAS No. 155 allows financial instruments
that have embedded derivatives to be accounted for as a whole (eliminating the
need to bifurcate the derivative from its host) if the holder elects to account
for the whole instrument on a fair value basis. The Statement also establishes a
requirement to evaluate interests in securitized financial assets to identify
interests that are freestanding derivatives or that are hybrid financial
instruments that contain an embedded derivative requiring bifurcation and
clarifies that concentrations of credit risk in the form of subordination are
not embedded derivatives. SFAS No. 155 is effective for all financial
instruments acquired or issued after the beginning of fiscal 2008. We do not
expect the adoption of this standard to have a material effect on our financial
statements.


                                       11
<PAGE>


Item 2.  Management's Discussion and Analysis of Financial Condition
           and Results of Operations


     The following discussion and analysis should be read in conjunction with
the consolidated financial statements and notes thereto included in this
quarterly report and with IntegraMed America Inc.'s Annual Report on Form 10-K
for the year ended December 31, 2005.

Overview

     IntegraMed America, Inc. offers products and services to patients and
providers in the fertility industry. We have developed a network comprised of
thirty contracted fertility centers in major markets across the United States,
products and services designed to support fertility center growth, products and
services in the pharmaceutical and patient financing areas, and captive
insurance offerings. Twenty two affiliate fertility centers subscribe to
discrete service packages provided by us and have the right to distribute our
consumer products, and eight fertility centers have access to our entire
portfolio of products and services under our comprehensive FertilityPartners(TM)
program. All thirty centers have access to our consumer services, principally
Shared Risk Refund and pharmaceutical offerings, as well as patient financing
products.

     The business strategy of our Provider Services segment is to leverage our
deep expertise and commitment to improved fertility center performance by
providing the best value-specific offerings designed to manage and grow the
center within the context of a long term relationship. The business strategy of
our Consumer Segment is to provide products and services that make obtaining
high quality care easier and more affordable. The primary elements of our
strategy include: (i) expanding our network of fertility centers into new major
markets; (ii) increasing the number and value of service packages purchased by
Affiliates in our network; (iii) entering into additional FertilityPartners
contracts with Affiliated and non-Affiliated fertility centers; (iv) increasing
revenues and profits at contracted fertility centers; and, (v) increasing sales
of Shared Risk Refund, pharmaceutical and treatment financing products to
fertility patients.

Major events impacting financial condition and results of operations

     On May 22, 2006, we declared a 25% stock split effected in the form of a
stock dividend for all holders of record as of June 7, 2006. As a result of this
dividend, 1,291,368 new shares of common stock were issued on the payment date
of June 21, 2006. No fractional shares were issued as all fractional amounts
were rounded up to the next whole share. All weighted average shares outstanding
and earnings per share calculations in this filing have been restated to reflect
this stock split.

     In December 2005, we amended our existing credit agreement with Bank of
America. The amended agreement is comprised of a renewal and increase in our
three-year revolving credit line to $10 million, and a new $10 million five-year
term loan, of which approximately $3.2 million was used to retire the
outstanding balance on our previous term loan.

     Through September 30, 2005, we marketed pharmaceutical products directly to
patients throughout our network and we had contracted with ivpcare, inc. to
provide certain business services related to the distribution of and accounting
for these sales. Effective October 1, 2005, this agreement was superseded by a
new agreement between us and ivpcare, inc. Under the terms of the new agreement,
we are no longer a direct distributor of pharmaceutical products to patients, as
this function is being performed directly by ivpcare. Our responsibilities are
limited to marketing the products for which we are compensated. This
compensation approximates our previous contribution from those pharmaceutical
sales, and is shown on a "net" rather than "gross" basis. As a result, as of
October 1, 2005, we no longer record pharmaceutical sales, the related cost of
sales and other costs related to pharmaceutical distribution. As expected, this
contract change has measurably reduced our pharmaceutical revenues and cost of
sales; however contribution from these operations and income before income
taxes, as well as net income, has been unaffected by the change.

     On May 23, 2005, we declared a 30% stock split effected in the form of a
stock dividend for all holders of record as of June 8, 2005. As a result of this
dividend, 1,129,141 new shares of common stock were issued on the payment date
of June 22, 2005. No fractional shares were issued as all fractional amounts


                                       12
<PAGE>

were rounded up to the next whole share. All weighted average shares outstanding
and earnings per share calculations in this filing reflect this stock split.

     Effective January 1, 2005, we signed a FertilityPartners agreement to
supply a complete range of business, marketing and facility services to the
Reproductive Partners Medical Group, Inc. or RPMG, a fertility practice
comprised of six physicians in the Southern California market. Under the terms
of this 25-year agreement, our service fees are comprised of reimbursed costs of
services, a tiered percentage of revenues, and an additional fixed percentage of
RPMG's earnings. We also committed up to $0.5 million to fund any necessary
capital needs of the practice.

     Effective January 1, 2005, the Company became a minority equity investor in
the Assisted Reproductive Technology Insurance Company, LTD, ("ARTIC"). ARTIC is
incorporated as an off-shore captive insurance company designed to offer
malpractice insurance to physicians and related facilities within the IntegraMed
network. IntegraMed's equity investment of $50,000 represents a 10% ownership
stake, which is accounted for on the cost basis. The remaining equity of ARTIC
is owned by participating physician groups. To date, earnings on our equity
investment have been immaterial, however IntegraMed is paid a predetermined fee
to provide certain administrative and risk management related services to ARTIC.


Results of Operations

     The following table shows the percentage of net revenue represented by
various expenses and other income items reflected in our statement of operations
for the three and six-month periods ended June 30, 2006 and 2005:
<TABLE>
<CAPTION>

                                                                  For the                  For the
                                                            three-month period        six-month period
                                                              ended June 30,            ended June 30,
                                                          ----------------------    ---------------------
                                                            2006         2005         2006         2005
                                                          --------     ---------    --------     --------
<S>                                                         <C>          <C>          <C>          <C>
         Revenues, net:
             Provider services.........................     91.0%        80.2%        91.2%        80.4%
             Consumer services.........................      9.0%        19.8%         8.8%        19.6%
                Total revenues.........................    100.0%       100.0%       100.0%       100.0%

         Costs of services incurred:
             Provider services.........................     82.4%        71.5%        82.4%        71.8%
             Consumer services.........................      5.7%        17.3%         5.5%        17.4%
                Total costs of service.................     88.1%        88.8%        87.9%        89.2%

         Contribution:
            Provider services..........................      8.6%         8.7%         8.8%         8.6%
            Consumer services..........................      3.3%         2.5%         3.3%         2.2%
                Total contribution.....................     11.9%        11.2%        12.1%        10.8%


         General and administrative expenses...........      9.3%         9.0%         9.6%         9.0%
         Interest income...............................     (0.8)%       (0.4)%       (0.8)%       (0.3)%
         Interest expense..............................      0.6%         0.2%         0.6%         0.3%
                Total other expenses...................      9.1%         8.8%         9.4%         9.0%

         Income from operations before income taxes....      2.8%         2.4%         2.7%         2.0%
         Income tax provision..........................      1.1%         1.0%         1.1%         0.8%
         Net income ...................................      1.7%         1.4%         1.6%         1.2%

</TABLE>

                                       13
<PAGE>

Three Months Ended June 30, 2006 Compared to Three Months Ended June 30, 2005

       Our reported revenues decreased by $0.4 million, or 1.2%, to $31.8
million for the three months ended June 30, 2006, compared to $32.2 million for
the same period in 2005. The second quarter of 2005 included pharmaceutical
revenue of $4.3 million, which due to the contract change discussed above, must
be excluded from 2005 revenues to make them comparable with 2006. Other
significant factors affecting our reported revenues were as follows:

(i)           Provider Services -

              Revenues from our Provider Services unit, comprised primarily of
              our FertilityPartner locations, Affiliate members and ARTIC
              services, increased by $3.1 million, or 12.1% from the same
              quarter in the prior year. Approximately $3.0 million of this
              increase resulted from organic growth within our eight
              FertilityPartner centers and is attributable to our comprehensive
              consumer oriented marketing campaigns.

              Revenues from our Affiliate clinics increased approximately $0.1
              million in the second quarter of 2006 relative to the second
              quarter of 2005, reflecting our growing network of affiliated
              fertility clinics, which increased from fifteen clinics as of June
              30, 2005 to twenty two clinics as of June 30, 2006.

(ii)          Consumer Services -

              Our Shared Risk Refund program continued to see significant
              double-digit year-to-year growth with second quarter 2006 revenues
              of $2.8 million, an increase of $0.9 million, or 42%, above 2005
              revenues of $1.9 million for the same period. This product
              offering continues to show strong growth with the second quarter
              of 2006 having the highest patient enrollment rate of any quarter
              in the program's history.

              Pharmaceutical revenue was $0.1 million for quarter ended June 30,
              2006, compared to $4.4 million for the same quarter in 2005. This
              reduction in revenue is primarily the result of a change in
              contract terms with our strategic partner in the pharmaceutical
              business, which became effective on October 1, 2005. Under the new
              contract terms, we no longer record the sales of pharmaceutical
              products as revenue and the cost of these products as costs of
              sales, but rather report net marketing fees associated with those
              sales. While these new terms have an effect on our reported
              revenues, and associated cost of sales, they will not have any
              impact on our net profit from those sales. As a result, reported
              revenues for 2005 should be reduced by $4.3 million to be
              comparable with 2006 revenues.


     Contribution for the quarter ended June 30, 2006 of $3.8 million increased
approximately $0.2 million, or 5%, from the same quarter in 2005. As a
percentage of revenue, our contribution margin for the quarter increased to
11.9% in 2006 relative to 11.2% in 2005, due primarily to the current
presentation of "net pharmaceutical revenue" as discussed above, as well as the
continued growth of our Shared Risk Refund program. The following factors had a
significant impact on contribution:

(i)           Provider Services -

              Contribution from our FertilityPartners segment of $2.4 million
              for the second quarter of 2006 was essentially even with the
              contribution of $2.5 million in the prior year. Despite revenue
              growth of 12.1%, previously negotiated fee reductions at three
              FertilityPartners clinics prevented contribution growth. The year
              2006 represents the final year of our multi-year fee realignment
              program. With the fee structures we currently have in place, we
              expect that continued revenue growth in future years will directly
              translate into growth in contribution.

              Our Affiliate clinics generated contribution of $0.3 million in
              2006, an increase of $0.1 million from their contribution in 2005.
              This increase is primarily the result of additional Affiliate
              clinics participating in our network since the second quarter of
              2005.

                                       14
<PAGE>


(ii)          Consumer Services -

              Contribution from our Shared Risk Refund program rose by 40%, to
              $0.9 million for the quarter ended June 30, 2006, from $0.6
              million in the same quarter of 2005. This growth is attributable
              to increased patient enrollment and continued favorable pregnancy
              outcomes, especially during early treatment cycles.

              Pharmaceutical contribution of $0.2 million in 2006 was consistent
              with the contribution level in 2005. As previously stated, the
              change in contract terms with our strategic partner in the
              pharmaceutical business was designed to have no effect on our
              contribution from those underlying sales.


     General and Administrative expenses are comprised of salaries, benefits,
corporate regulatory, operational, administrative and support costs which are
not specifically related to individual clinical operations or other product
offerings. These costs were $3.0 million for the second quarter of 2006,
compared to $2.9 million for the same period in 2005. The increase of $0.1
million is attributable to higher employee compensation, recruitment and health
benefit related costs.

     Interest income increased to $260,000 for the quarter ended June 30, 2006,
from $115,000 in 2005. This increase is primarily attributed to interest
earnings on higher cash balances. Interest expense increased to $199,000 for the
second quarter of 2006, from $70,000 in 2005, primarily as a result of interest
charges on our higher debt levels associated with our December 2005 amended
credit agreement with Bank of America.

     Our provision for income tax was approximately $0.4 million in 2006, or
39.9% of pre-tax income, compared to $0.3 million, or 39.8% of 2005 pre-tax
income. Our effective tax rates for both 2006 and 2005 reflect provisions for
both current and deferred federal and state income taxes.


Six Months Ended June 30, 2006 Compared to Six Months Ended June 30, 2005

Our reported revenues for the first six months of 2006 were $62.3 million, a
decrease of $1.9 million, or 3%, from revenues of $64.2 million in 2005. Our
2005 results include pharmaceutical revenue of $8.8 million, which due to the
previously discussed contract change, must be excluded from 2005 revenues to
make them comparable with 2006 results. Other significant factors affecting our
reported revenues were as follows:

(iii)         Provider Services -

              Revenues from our Provider Services unit, comprised of our
              FertilityPartner clinics, Affiliate clinics and ARTIC insurance
              services, increased by $5.2 million, or 10% from the same period
              in the prior year. Approximately $5.1 million of this increase
              resulted from same store growth within our FertilityPartner
              centers with all clinics reporting higher revenue. Underlying
              these increases is our multi-level marketing effort with
              initiatives on physician referrals, field sales, internet
              advertising and public relations. Each of our FertilityPartner
              locations maintains a staff of full-time, professionally trained
              team members focused on patient recruitment and retention.

              Revenues from our Affiliate clinics increased approximately $0.1
              million in six months ended June 30, 2006 compared to the same
              period in 2005, reflecting our growing network of affiliated
              fertility clinics.

(iv)          Consumer Services -

              Our Shared Risk Refund program continued to see significant growth
              with revenues of $5.3 million for the first six months of 2006, up
              $1.8 million or 52.3%, over the first six months revenue of $3.5
              million in 2005. Consumer interest in this program remains strong,
              with patient enrollments during the first half of 2006 increasing
              over their 2005 rates.

              Pharmaceutical revenue was $0.3 million for the six months ended
              June 30, 2006, compared to $9.2 million for the same period in
              2005. Approximately $8.8 million of this reduction in revenue is


                                       15
<PAGE>

              the result of the previously discussed change in contract terms
              with our strategic partner in the pharmaceutical business, which
              became effective on October 1, 2005.


     Contribution for the six months ended June 30, 2006 of $7.6 million
represents an increase of $0.6 million, or 8.8%, from the same period in 2005.
As a percentage of revenue, our contribution margin for the first six months of
2006 increased to 12.1% versus 10.8% in 2005. This increased margin percentage
is primarily due to the current presentation of "net pharmaceutical revenue" as
discussed above. The following factors had a significant impact on contribution:

(iii)         Provider Services -

              Contribution from our FertilityPartners segment of $4.9 million,
              or 8.7% of related revenues, for the first half of 2006 was
              slightly below prior year contribution of $5.1 million, or 9.9% of
              revenues. Contribution amounts were primarily affected by
              previously negotiated fee reductions at several FertilityPartners
              clinics. The year 2006 represents the final year of our multi-year
              fee realignment program. With the fee structures we currently have
              in place, we expect that continued organic revenue growth in
              future years will directly translate into growth in contribution
              dollars and margin percentage.

              Our Affiliate clinics generated contribution of $0.5 million in
              2006, an increase of $0.1 million from their contribution in 2005.
              This increase is primarily the result of network expansion by
              obtaining additional Affiliate clinic contracts. As of June 30,
              2006, we had twenty two Affiliate clinics under contract, versus
              fifteen as of June 30, 2005.

(iv)          Consumer Services -

              Contribution from our Shared Risk Refund program rose by 61.8%, to
              $1.7 million for the first six months of 2006, from $1.1 million
              in the first six months of 2005. This growth is attributable to
              higher patient throughput and continued favorable pregnancy rates
              on treatment cycles.

              Pharmaceutical contribution of $0.3 million in 2006 was
              essentially even with contribution in 2005. Our pharmaceutical
              contribution is directly dependent upon fees we receive related to
              the volume of pharmaceutical products sold by ivpcare, inc., our
              pharmaceutical business partner. In an effort to increase these
              fees, we are continuing our efforts to promote pharmaceutical
              sales volume throughout our network.


     General and Administrative expenses totaled $6.0 million, or 79.4% of
contribution, for the first six months of 2006, compared to $5.7 million, or
82.0% of contribution, for the comparable period in 2005. These costs are
comprised of operational, administrative, regulatory and other support costs
which are not specifically related to our product offerings. The $0.3 million
increase in costs in 2006 is mainly related to the amortization of stock grants,
expensing stock options, employee recruitment and health insurance cost
increases in 2006 relative to 2005.

     Interest income increased to $481,000 for the six month period ended June
30, 2006, from $215,000 in the same period of 2005. This increase is primarily
related to interest earnings on higher cash balances as well as higher market
interest rates relative to 2005. Interest expense increased to $358,000 for the
second half of 2006, from $167,000 in 2005, primarily as a result of interest
charges on our higher debt levels associated with our December 2005 financing
with Bank of America.

     Our provision for income tax was $0.7 million in 2006, or 39.9% of pre-tax
income, compared to $0.5 million, or 39.8% of 2005 pre-tax income. Our effective
tax rates for both 2006 and 2005 reflect provisions for both current and
deferred federal and state income taxes.


                                       16
<PAGE>

Off-balance Sheet Arrangements

   FASB Interpretation No. 46 (FIN 46R) "Consolidation of Variable Interest
Entities" ("VIE's") addresses how a business enterprise should evaluate whether
it has a controlling financial interest in an entity through means other than
voting rights and accordingly should consolidate the entity. As part of our
ongoing business, we do not participate in transactions that generate
relationships with unconsolidated entities or financial partnerships, such as
entities often referred to as structured finance or VIE's, which would have been
established for the purpose of facilitating off-balance sheet arrangements or
other contractually narrow or limited purposes. As of June 30, 2006, we do not
have an interest in any VIE's where we are the primary beneficiary, therefore
the adoption of FIN 46 had no impact on our financial statements.

 Liquidity and Capital Resources

     As of June 30, 2006, we had approximately $25.9 million in cash and cash
equivalents on hand as compared to $22.5 million at December 31, 2005.
Additionally, we had working capital of approximately $9.2 million, at June 30,
2006, an increase of $2.5 million from working capital of $6.7 million as of
December 31, 2005. Our increased working capital is largely attributed to cash
flows generated from operating activities.

     Shared Risk Refund patient deposits, which are reflected as a current
liability, represent funds received from patients in advance of treatment cycles
and are an indication of future Shared Risk revenues. These deposits totaled
approximately $5.7 million and $4.7 million as of June 30, 2006 and December 31,
2005, respectively. These deposits are a significant source of recurring cash
flow and represent interest-free financing for us.

     As of June 30, 2006, we did not have any significant contractual
commitments for the acquisition of fixed assets or construction of leasehold
improvements. However, we anticipate upcoming capital expenditures of
approximately $1.6 million for the remainder of 2006. These expenditures are
primarily related to medical equipment and information system acquisitions and
leasehold improvements. We believe that working capital, specifically cash and
cash equivalents, remain at adequate levels to fund our operations and our
commitments for fixed asset acquisitions. We also believe that the cash flows
from our operations plus our available credit facility will be sufficient to
provide for our future liquidity needs over the next twelve months.

     In December 2005, we amended our existing credit facility with Bank of
America. The amended facility is comprised of a $10.0 million three-year
revolving line of credit and a $10.0 million 5-year term loan. As of June 30,
2006, approximately $9.3 million of the term loan was outstanding with a
remaining term of 4.5 years, with no balance outstanding under the revolving
line of credit.

     Each component of our amended credit facility bears interest by reference
to Bank of America's prime rate or LIBOR, at our option, plus a margin, which is
dependent upon a leverage test, ranging from 1.75% to 2.50% in the case of
LIBOR-based loans. Prime-based loans are made at Bank of America's prime rate
and do not contain an additional margin. Interest on the prime-based loans is
payable monthly and interest on LIBOR-based loans is payable on the last day of
each applicable interest period. As of June 30, 2006, interest on the term loan
was payable at a rate of approximately 5.09% plus the applicable margin. Unused
amounts under the working capital revolver bear a commitment fee of 0.25% and
are payable quarterly. Availability of borrowings under the working capital
revolver is based on eligible accounts receivable, as defined in the credit
agreement. As of June 30, 2006, under the revolving line of credit the full
amount of $10.0 million was available to us, of which none was outstanding. The
Bank of America credit facility is collateralized by all of our assets. As of
June 30, 2006, we were in full compliance with all applicable debt covenants.

     In order to mitigate the interest rate risk associated with our term loan,
we entered into an interest rate swap agreement with Bank of America in April
2006. The effect of this swap transaction was to effectively fix the interest
rate on our term loan at 5.42% plus the applicable margin for the life of the
loan.

     We are also continuously reviewing our credit agreements and may renew,
revise or enter into new agreements from time to time as
deemed necessary.

                                       17
<PAGE>

Significant Contractual Obligations and Other Commercial Commitments

     The following summarizes our contractual obligations and other commercial
commitments at June 30, 2006, and the effect such obligations are expected to
have on our liquidity and cash flows in future periods.
<TABLE>

<CAPTION>
                                                               Payments Due by Period

                                      Total     Less than 1 year     1 - 3 years     4 - 5 years    After 5 years
                                   ----------   ----------------     -----------     -----------    -------------

<S>                               <C>              <C>               <C>             <C>            <C>
Notes Payable.................    $ 9,286,000      $ 1,428,000       $ 2,858,000     $ 5,000,000    $        --
Capital lease obligations.....        111,000           73,000            38,000              --             --
Derivative valuation..........         44,000            7,000            37,000
Operating leases..............     47,583,000        6,466,000        13,718,000       7,115,000     20,284,000
FertilityPartners capital and
    other obligations.........             --               --                --              --             --
Total contractual cash
    obligations...............    $57,024,000      $ 7,974,000       $16,651,000     $12,115,000    $20,284,000

                                                    Amount of Commitment and Expiration Per Period

                                     Total      Less than 1 year    1 - 3 years     4 - 5 years    After 5 years
                                   ----------   ----------------     -----------     -----------    -------------
Lines of credit...............    $10,000,000      $        --       $10,000,000     $        --    $        --
</TABLE>

     We also have commitments to provide working capital financing to our
FertilityPartners locations. A significant portion of this commitment relates to
our transactions with the medical practices themselves. Our responsibilities to
the medical practices are to provide financing for their accounts receivable and
to hold patient deposits on their behalf as well as undistributed physician
earnings. Disbursements to the medical practices generally occur on or before
the 20th business day of each month. The medical practice's repayment hierarchy
consists of the following:

(i) We provide a cash credit to the practice for billings to patients and
insurance companies;

(ii) We reduce the cash credit for clinic expenses that we have incurred on
behalf of the practice;

(iii) We reduce the cash credit for the base portion of our Service Fee which
relates to the FertilityPartners revenues;

(iv) We reduce the cash credit for the variable portion of our Service Fee which
relates to the FertilityPartners earnings; and

(v) We disburse to the medical practice the remaining cash amount which
represents the physicians undistributed earnings.

     We are also responsible for the collection of the FertilityPartners
accounts receivables, which we finance with full recourse. We continuously fund
these needs from our cash flow from operations, the collection of prior months'
receivables and deposits from patients in advance of treatment. If delays in
repayment are incurred, which have not as yet been encountered, we could draw on
our existing working capital line of credit. We also make payments on behalf of
the FertilityPartners for which we are reimbursed in the short-term. Other than
these payments, as a general course, we do not make other advances to the
medical practice. We have no other funding commitments to the FertilityPartners.

New Accounting Pronouncements

     In July 2006, the Financial Accounting Standards Board ("FASB") issued FASB
Interpretation  No. 48,  "Accounting  for  Uncertainty in Income Taxes" (FIN No.
48). FIN No. 48  addresses  the  accounting  for  uncertainties  in income taxes
recognized in financial  statements in accordance  with FASB  Statement No. 109,


                                       18
<PAGE>

"Accounting  for Income  Taxes." This  interpretation  establishes a recognition
threshold and measurement attributes for the financial statement recognition and
measurement of tax positions  taken or expected to be taken in a tax return.  We
do not expect the  adoption of this  standard  to have a material  effect on our
financial statements.

     In February 2006, the Financial Accounting Standards Board ("FASB") issued
Statement of Financial Standard "(SFAS") No. 155, "Accounting for Certain Hybrid
Instruments", which is an amendment of SFAS No. 133, "Accounting for Derivative
Instruments and Hedging Activities". SFAS No. 155 allows financial instruments
that have embedded derivatives to be accounted for as a whole (eliminating the
need to bifurcate the derivative from its host) if the holder elects to account
for the whole instrument on a fair value basis. The Statement also establishes a
requirement to evaluate interests in securitized financial assets to identify
interests that are freestanding derivatives or that are hybrid financial
instruments that contain an embedded derivative requiring bifurcation and
clarifies that concentrations of credit risk in the form of subordination are
not embedded derivatives. SFAS No. 155 is effective for all financial
instruments acquired or issued after the beginning of fiscal 2008. We do not
expect the adoption of this standard to have a material effect on our financial
statements.


Forward Looking Statements

     This Form 10-Q and discussions and/or announcements made by or on behalf of
us, contain certain forward-looking statements regarding events and/or
anticipated results within the meaning of the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, the attainment of which
involves various risks and uncertainties. Forward-looking statements may be
identified by the use of forward-looking terminology such as, "may", "will",
"expect", "believe", "estimate", "anticipate", "continue", or similar terms,
variations of those terms or the negative of those terms. Our actual results may
differ materially from those described in these forward-looking statements due
to the following factors: our ability to acquire additional FertilityPartners
agreements, our ability to raise additional debt and/or equity capital to
finance future growth, the loss of significant FertilityPartners agreement(s),
the profitability or lack thereof at fertility centers serviced by us, increases
in overhead due to expansion, the exclusion of fertility and ART services from
insurance coverage, government laws and regulation regarding health care,
changes in managed care contracting, the timely development of and acceptance of
new fertility, and ART and/or genetic technologies and techniques. We are under
no obligation to (and expressly disclaim any such obligation) update or alter
any forward-looking statements whether as a result of new information, future
events or otherwise.


Item 3.  Quantitative and Qualitative Disclosures About Market Risk

     In the normal course of business our interest income and expense items are
sensitive to changes in the general level of interest rates. During the second
quarter of 2006 we entered into a derivative transaction designed to hedge our
variable rate term loan. As a result of this derivative transaction we have
successfully shielded ourselves from interest rate risks associated with our
term loan. We are currently subject to interest rate risks associated with our
short term investments and certain advances to our FertilityPartner clinics,
both of which are tied to either short term interest rates or the prime rate. As
of June 30, 2006, a one percent change in interest rates would impact our
pre-tax income by approximately $200,000 annually.


Item 4. Controls and Procedures


     (a) Evaluation of disclosure controls and procedures.

     Under the supervision and with the participation of our management,
including our Chief Executive Officer and Chief Financial Officer, we evaluated
the effectiveness of the design and operation of our disclosure controls and
procedures (as defined in Rule 13a-15 under the Exchange Act) as of June 30,
2006 (the "Evaluation Date"). Based upon that evaluation, the Chief Executive
Officer and Chief Financial Officer concluded that, as of the Evaluation Date,


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<PAGE>

our disclosure controls and procedures were effective in timely alerting them to
the material information relating to us required to be included in our periodic
SEC filings.


     Section 404 of the Sarbanes-Oxley Act requires us to provide an assessment
of the effectiveness of our internal control over financial reporting as of the
end of fiscal year 2007. We are in the process of performing the system and
process documentation, evaluation and testing necessary to make its assessment.
We have not completed this process or its assessment. In the process of
evaluation and testing, we may identify deficiencies that will require
remediation.


     (b) Changes in internal controls.


     There were no significant changes made in our internal controls during the
period covered by this report or, to our knowledge, in other factors that could
significantly affect these controls subsequent to the date of their evaluation.




                                       20
<PAGE>

Part II -         OTHER INFORMATION

     Item 1.      Legal Proceedings.

                  From time to time, we are party to legal proceedings in the
                  ordinary course of business. As of June 30, 2006, none of
                  these proceedings is expected to have a material adverse
                  effect on our financial position, results of operations or
                  cash flow.

     Item 2.      Unregistered Sales of Equity Securities and Use of Proceeds.

                     None


     Item 3.      Defaults Upon Senior Securities.
                     None.

     Item 4.      Submission of Matters to Vote of Security Holders.
                     At an Annual Stockholders Meeting held on May 23, 2006, the
                     following matters were acted upon by the Stockholders with
                     the indicated votes thereon:

                     Proposal 1 -- Election of Directors

                         Director             Votes For         Votes Withheld
                         --------             ---------         --------------

                    Gerardo Canet             4,349,267            119,405
                    Jay Higham                4,381,902             86,770
                    Sarason D. Liebler        4,327,177            141,495
                    Wayne R. Moon             4,253,688            214,984
                    Lawrence J. Stuesser      4,253,696            214,976
                    Elizabeth E. Tallett      4,208,930            259,742
                    Yvonne Thornton, M.D.     4,428,607             40,065

     Item 5.      Other Information.
                     None.

     Item 6.      Exhibits.

                  See Index to Exhibits on Page 23.





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<PAGE>



                                   SIGNATURES



         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                  INTEGRAMED AMERICA, INC.
                                  (Registrant)




Date:    August 11, 2006          By:/s/:  John W. Hlywak, Jr.
                                           -------------------
                                           John W. Hlywak, Jr.
                                           Executive Vice President and
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)



                                       22
<PAGE>





                                INDEX TO EXHIBITS

Exhibit
Number                                            Exhibit


31.1  --  CEO  Certification  Pursuant to 18 U.S.C. ss. 1350 as Adopted Pursuant
          to Section  302 of the  Sarbanes-Oxley  Act of 2002  dated  August 11,
          2006.

31.2  --  CFO  Certification  Pursuant to 18 U.S.C. ss. 1350 as Adopted Pursuant
          to Section  302 of the  Sarbanes-Oxley  Act of 2002  dated  August 11,
          2006.

32.1  --  CEO  Certification  Pursuant to 18 U.S.C. ss. 1350 as Adopted Pursuant
          to Section  906 of the  Sarbanes-Oxley  Act of 2002  dated  August 11,
          2006.

32.2  --  CFO  Certification  Pursuant to 18 U.S.C. ss. 1350 as Adopted Pursuant
          to Section  906 of the  Sarbanes-Oxley  Act of 2002  dated  August 11,
          2006.


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