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  "documentTitle": "Progyny, Inc. (PGNY)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-02-07 00:00:00",
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  "notes": "Uses a LinkedIn screenshot as evidence of his role and timeline.",
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      "kind": "callout",
      "text": "The Medical Manager fraud scheme ran from 1997 to 2003. Schlanger first evaluated Medical Manager as the primary deal executive in 1999 and later evaluated and executed additional deals as part of Medical Manager and WebMD during an additional four years that the scheme was perpetrated.",
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      "kind": "callout",
      "text": "PGNY Executive Chairman and former CEO David Schlanger was the primary M&A executive evaluating Medical Manager while at Synetic. Later, he was SVP of Corporate Development at Medical Manager and WebMD, executing numerous transactions during a period when acquired companies were used as an instrument of accounting fraud.",
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      "text": "LinkedIn profile screenshot showing work history at WebMD and Medical Manager Corp.",
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      "kind": "paragraph",
      "text": "According to his LinkedIn profile, Schlanger was SVP Corporate Development at Medical Manager from Jan 1995 to Sep 2001 and maintained that role at WebMD through Dec 2011. He was originally SVP Corporate Development at Synetic, which acquired Medical Manager. An article regarding the deal in the Tampa Bay Times included the following statement by Schlanger: \"Medical Manager has done a great job in creating an electronic infrastructure that we can use to deploy our e-commerce network in doctors' offices,\" said David Schlanger, senior vice president at Synetic. \"It's a combination that makes great sense.\" We note that, given his role as SVP Corporate Development at Synetic, Schlanger may have been responsible for assessing the Medical Manager business over two years into its fraudulent scheme. Holding substantially the same title at Medical Manager and WebMD, Schlanger was involved with additional acquisitions and management of the business for another four years during which the scheme continued to be perpetrated.",
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      "text": "\"Medical Manager has done a great job in creating an electronic infrastructure that we can use to deploy our e-commerce network in doctors' offices,\" said David Schlanger, senior vice president at Synetic. \"It's a combination that makes great sense.\" — Tampa Bay Times, May 1999",
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      "kind": "source-note",
      "text": "Source: David Schlanger LinkedIn profile, Tampa Bay Times, May 1999",
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      "kind": "title",
      "text": "Schlanger Was The \"Lead Executive\" For The Acquisitions Forming Medical Manager And WebMD",
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      "evidence": "The document outlines several issues with PGNY's reporting, management, and industry position.",
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      "evidence": "The document presents several red flags in PGNY's reporting and management.",
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