"Everyone is healthy and doing well, we're so grateful for all the love and well wishes along our journey to get here," the couple tells PEOPLE of newborn Caden Robert Katrosar

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Melissa Claire Egan and Matt Katrosar
Credit: Melissa Claire Egan

And baby makes three!

On Saturday, The Young and the Restless star Melissa Claire Egan welcomed her first baby, a son named Caden Robert, alongside her husband, Matt Katrosar.

Coming into the world weighing 7 lbs. and 7 oz., the little bundle of joy measures 20 inches long, and the proud parents couldn't be more thrilled about the new addition to their family.

"We are overjoyed to welcome Caden Robert Katrosar into the world," the couple tells PEOPLE in an exclusive statement. "Everyone is healthy and doing well, we're so grateful for all the love and well wishes along our journey to get here. We're awestruck by this little man and can't believe he's ours."

"Huge thanks to all the amazing doctors and nurses at Cedars Sinai who have taken such good care of us!" the pair continues. Egan, 39, adds, "Although this is my first child in real life, I've had very dramatic on-screen births on The Young and the Restless. Once after falling through a lake, I delivered my son on the show in a cabin. The other time, I went into labor at my wedding and delivered a baby right there in my wedding dress. So this was a breeze compared to that!"

For more on Melissa Claire Egan's baby news and other top stories, listen below to our daily podcast PEOPLE Every Day.

Egan has famously portrayed grifter Chelsea Lawson on the CBS soap since 2011.

Melissa Claire Egan Matt Katrosar
Credit: Paul Archuleta/FilmMagic

Back in April, Egan revealed on Instagram that she was having a baby boy this summer after previously suffering two prior miscarriages.

"Very excited to share, Baby Boy Katrosar is set to arrive at the end of August💙," she wrote alongside a photo of her smiling while holding her baby bump at the beach.

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Egan got candid as she continued, "As happy as we are, the journey to get here has been filled with lots of tears, stress, sadness, helplessness, hopelessness, and 2 miscarriages."

The Y&R star also took a moment to write a supportive message to people who have struggled with fertility. "To anyone going through this process or any kind of fertility issues, I feel you, I see you, you're not alone. I wish I could jump through this phone and give you a big hug," Egan said. "Please do not give up hope. Keep trusting and have faith. You got this!!!"

In his own Instagram post, Katrosar — who has been married to his wife since 2014 — wrote, "Beyond grateful and excited! Also forever impressed with my beautiful wife for her willingness and desire to share and help others that are struggling."