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President and CEO Chris Fowler expressed confidence in bookings, citing a good balance between Patient Care and Financial Health, though he noted fewer 'at bats' in the net new patient care market. On retention, he highlighted strong performance in Patient Care and detailed the ongoing operational improvements in the Financial Health CBO business. Regarding the acquisition, Fowler stated he is still pleased but acknowledged a key learning was that a remote-only offshore model was insufficient for their desired pace, necessitating a physical presence in India and process standardization. CFO Vinay Bassi added that Patient Care retention is in the high nineties, while Financial Health is in the low nineties.

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CEO Seth Blackley responded that the pipeline is heavily weighted towards oncology due to market demand and includes a mix of national, regional, and Blue plans. He highlighted a higher-than-usual mix of new logos, driven by payers seeking new solutions and the anticipated difficulty for plans to insource specialty management under new CMS requirements.

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CEO Parth Mehrotra reported strong momentum on all fronts, pursuing both new market entry and existing market density without capacity constraints. He noted that Privia is seeing a high volume of transactions, including from practices looking to switch from other value-based care partners. He believes seller expectations have become more reasonable as the market has shaken out, with fewer private equity buyers. This positions Privia as a natural consolidator, though he stressed they will remain disciplined, focusing on EBITDA and free cash flow accretive deals.

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CEO William Feehery described the new platform as a major initiative to unite various software solutions, which will be layered on top of existing offerings. He asserted that the company's growth is not dependent on a macroeconomic recovery, citing the convergence of technology maturity, industry understanding, and regulatory acceptance as key drivers.

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CEO & Chairman Ari Bousbib detailed significant progress, stating IQVIA is 'all in' on AI, developing specialized agents with NVIDIA. He mentioned over 20 agents are in production with 50 more planned for Q3, covering use cases like literature review and patient journeys. He noted strong client interest and highlighted that AI is expected to drive long-term internal efficiencies, which will help mitigate pricing pressures and support margin expansion.

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CEO Shawn O’Connor stated that major software releases will likely remain annual to suit client needs, though the new structure allows for faster updates. He confirmed the Proficiency revenue contribution is now guided to $9M-$12M for FY25 and that a previously mentioned large engagement has initiated, albeit with some delays. He does not see a shift to a transactional model in the near-term.

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CEO Peter Gassner responded that he hasn't sensed a broad change in the spending mix, but noted strong customer interest in using technology like Crossix to double the impact of their existing digital spend. For in-person field teams, he highlighted the excitement around using AI to enhance productivity without necessarily changing the size of the field force.

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CFO Balaji Gandhi explained that quarter-to-quarter fluctuations are driven more by the specific pacing of large client campaigns rather than true seasonality. He stated that visibility for the year is consistent with prior years and that this pacing effect can cause variability, especially as the revenue base grows.

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Executive Balaji Gandhi stated that the company does not anticipate any notable impact from the election season, as it was manageable in past cycles. He also noted that the life sciences assets acquired about a year ago have sparked valuable conversations and are expected to be a key driver of future growth in Network Solutions and total revenue per client.

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CFO Anna Bryson credited the faster launches to the new integrated programs, which she called a 'game changer.' This model allows clients to go live immediately with any module that has pre-approved content. She also noted this flexibility pulls revenue forward, contributing to FY25 growth but potentially creating tougher comps for FY26.

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