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  "documentTitle": "Hims & Hers Health, Inc. (HIMS)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-07-13 00:00:00",
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  "notes": "The table shows a high volume of entities with varying ownership structures, contradicting the narrative of centralized management by only two physicians.",
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      "kind": "callout",
      "text": "HIMS would have us believe that two physicians provide all practice management duties for the entire nationwide operation of over 600 physicians.",
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      "text": "While nine different doctors formed Bailey Health entities (Williams, Purdy, Powell, Zalzala, Griffith, Kavanagh, Austin, Ross, and Poulton, not including lawyer Guajardo), Williams and Powell are the only current active owners.",
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      "text": "Notes: Entities with multiple owners separated by a slash represent ownership transitions over the life of the entity as opposed to multiple simultaneous owners. Differences in corporate filing history and document availability by state prevented a complete accounting of all ownership and transitions.",
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      "text": "HIMS AMG Entities by State With Formation-Dissolution Dates and Owners",
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      "kind": "title",
      "text": "A Close Examination of The History of AMG Entities By State Highlights Several Concerns (continued)",
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