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    William Spivack

    Research Analyst at TD Cowen

    William Spivack is an Associate at TD Securities (USA) LLC, where he covers healthcare and related providers as part of TD Cowen's analyst team. He has participated in research and investor discussions for companies such as Surgery Partners, demonstrating analytical expertise in U.S. healthcare services, Medicaid, and managed care organizations. Spivack joined TD Securities in 2024 after previously serving as an Associate at KPMG US LLP from 2019 to 2021 and has built a background in financial analysis within both the consulting and securities sectors. He maintains professional credentials appropriate for his roles, supported by a strong foundation in healthcare industry research.

    William Spivack's questions to Surgery Partners (SGRY) leadership

    William Spivack's questions to Surgery Partners (SGRY) leadership • Q1 2025

    Question

    William Spivack of TD Cowen inquired about any quantifiable weather impact in Q1 and whether full-year 2025 free cash flow is expected to be higher, lower, or similar to the prior year.

    Answer

    CEO J. Evans stated that any Q1 weather impact was immaterial and not worth quantifying, as case growth remained very strong. He also confirmed the expectation that free cash flow will grow along with the business for the full year, underscoring that the company has sufficient liquidity to meet its objectives.

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