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  "documentTitle": "Hims & Hers Health, Inc. (HIMS)",
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      "kind": "callout",
      "text": "The SEC definitely thinks that HIMS should disclose more about the economic details.",
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      "text": "Under the cover of an SEC response letter, HIMS admits that the strategic health provider relationships are financially meaningless.",
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      "text": "Beginning with its SPAC transaction presentation, HIMS has promoted the Company's strategic relationships with brick-and-mortar healthcare providers as a highly strategic means of increasing its customer base, and thus TAM.",
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      "text": "Hims is party to collaboration agreements with each of Ochsner Health and Mount Sinai Health System... The collaboration agreements do not involve any monetary exchange - neither party receives any compensation or financial incentive of any kind.",
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      "kind": "quote",
      "text": "I don't want to sound snide, but those are just marketing ploys more than anything. None of those facilities are overly interested in us sending or referring patients...I'm not sure [referrals] were even tracked, and if they were, they were inconsequential.",
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      "text": "I don't want to sound snide, but those are just marketing ploys more than anything. None of those facilities are overly interested in us sending or referring patients...I'm not sure [referrals] were even tracked, and if they were, they were inconsequential. — Former HIMS Executive",
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      "kind": "source-note",
      "text": "Source: HIMS SEC Response Letter Dated 12/2/2020, HIMS SEC Response Letter Dated 12/22/2020, Spruce Point red underline emphasis",
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      "kind": "title",
      "text": "We Believe HIMS' Partnerships With Brick-And-Mortar Healthcare Have Zero Economic Substance",
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