Health Care Workforce Services Bi-Weekly Industry Events & M&A Update — September 14–28, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › HEALTH CARE WORKFORCE SERVICES

Operators Defend Gross Profit per Hour While Buyers Wait

This update covers the movers, company announcements and transaction record across Health Care Workforce Services for September 14–28, 2026.

September 14–28, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28

Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice

Sources & methodology

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1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › HEALTH CARE WORKFORCE SERVICES

   This cover page introduces NeuraCap's bi-weekly Health Care Workforce Services events and M&A update for September 14–28, 2026.

   This bi-weekly update covers Health Care Workforce Services for September 14–28, 2026. We walk through what changed, who moved and why, what transacted, and what it means for you.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › HEALTH CARE WORKFORCE SERVICES Operators Defend Gross Profit per Hour While Buyers Wait This update covers the movers, company announcements and transaction record across Health Care Workforce Services for September 14–28, 2026. September 14–28, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28 Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   A Flat Two-Week Period in Which Company Records, Not Sector Direction, Set the Moves

   This page summarizes the two-week period's key facts in one view: market breadth, the dominant news item, the transaction record and a workforce data point.

   Three of six covered names fell over the two weeks, with a median move of -0.3% against a +0.8% gain for the S&P 500 — this set traded sideways rather than in one direction. Seven of the period's eight curated news items trace to a single securities class action, a concentration that tells us the news flow was event-driven rather than sector-wide. The precedent set held at 14 recorded deals, still priced across a 6.5x to 10.5x range around an 8.7x sector median. So what: with records driving moves and the deal comp set unchanged, we read this as a period to underwrite company-specific evidence, not sector momentum.

   Everything on this page

   THE BI-WEEKLY BOTTOM LINE A Flat Two-Week Period in Which Company Records, Not Sector Direction, Set the Moves The two-week period in one page · 6 covered names, close-to-close · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 2 1 Breadth Split Straight Down the Middle 3 of 6 covered names fell; the median move was -0.3%. The S&P 500 returned +0.8% over the same window, so the set traded sideways rather than in one direction. 2 One Name's Legal Docket Dominated the News Flow Seven of the period's eight curated items were investor notices tied to a securities class action against Doximity, Inc. (DOCS), a Premium-tier name in NeuraCap's lens where the tier median sits at 10.5x CY2027E EV / EBITDA. The allegations are unproven. 3 The Transaction Record Stood Still No sector transactions were added this period. Buyers are still referencing the same 14 trailing precedent transactions, against a sector median of 8.7x CY2027E EV / EBITDA. 4 Workforce Data Came from Inside the Sector AMN Healthcare Services, Inc. (AMN) published a 2026 study of the healthcare workforce pointing to staffing, workload and leadership gaps — the demand-side conditions that sit behind orders and requisitions. +3.1% Best mover — Viemed Healthcare, Inc. (VMD) worst: MD -3.6% · 3 up / 3 down of 6 covered -0.3% Sector median two-week return vs S&P 500 +0.8% 1 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   Two Names Moved, and Both Moves Trace to Their Own Records

   This page identifies the two names whose share prices moved over the period and links each move to its own company record.

   Two names moved this period, against a sector median of -0.3% and a +0.8% S&P 500 return, and both moves trace to their own filings and headlines rather than sector news. Viemed Healthcare, Inc. (VMD) rose +3.1% on commentary describing a shift toward capital-light home care. We hold each attribution to the recorded evidence in the window, and where no driver is on record, we say so plainly. So what: this is a stock-picker's tape — the read-through is company-specific, not sector-wide.

   Everything on this page

   PUBLIC MARKET MOVERS Two Names Moved, and Both Moves Trace to Their Own Records Bi-Weekly moves, close-to-close · September 14–28, 2026 · sector median -0.3% · S&P 500 +0.8% · materiality bar ±2.5% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median -0.3% Pediatrix Medical Group, Inc. (MD) -3.6% Pediatrix Medical Group, Inc. (MD) fell -3.6% over the period despite a +2.5% day on Sep 25. The move is consistent with Sep 22 coverage flagging 4% year-over-year second-quarter revenue growth delivered despite lower patient volumes. Volume questions now sit beside reimbursement gains; buyers test the underlying volume base, not the headline growth. COMPANY-SPECIFIC Viemed Healthcare, Inc. (VMD) +3.1% Viemed Healthcare, Inc. (VMD) rose +3.1%, with its largest day, +2.2%, on Sep 28. The move followed same-day commentary describing a shift toward capital-light home care and expansion into sleep, resupply and women's health. A Discount-tier name at 6.5x: mix shift toward lighter capital intensity is the argument being rewarded here. COMPANY-SPECIFIC

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   A Legal Docket on One Name, a Workforce Data Point on Another

   This page catalogs the two-week period's highest-impact news items: a securities class action docket and a sector workforce study.

   The dominant story this period is a securities class action against Doximity, Inc. (DOCS), which generated seven of the period's eight curated items — the allegations remain unproven. AMN Healthcare Services, Inc. (AMN) published a 2026 workforce study pointing to staffing, workload and leadership gaps that sit behind sector demand. Doximity sits in NeuraCap's Premium tier, where the tier median runs at 10.5x CY2027E EV/EBITDA. So what: one legal docket carried the news cycle, while the sector's own demand signals came from inside the industry, not from deal activity.

   Everything on this page

   MAJOR NEWS & INDUSTRY CATALYSTS A Legal Docket on One Name, a Workforce Data Point on Another The two-week period's highest-impact events · titles link to the underlying filing or article · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 17 · NEWS · PRNewsWire Doximity investors notified they may seek lead plaintiff status in the securities class action Litigation overhang on a Premium-tier name is now part of how the market reads its disclosure record. The claims are unproven. Premium valuations in this sector invite closer scrutiny of how revenue quality is described. Sep 17 · NEWS · PRNewsWire Investors reminded of the pending securities class action against Doximity Repeat notices keep the matter in front of holders through the period, which shapes sentiment independently of operating results. News flow can be one storyline repeated; separate the docket from the operating record. Sep 16 · NEWS · Business Wire Investor notice issued on the Doximity securities class action The filing puts the platform's reported momentum under third-party examination, a reminder that recurring-revenue narratives are tested. Recurring revenue claims carry a higher evidentiary bar than staffing pass-through billings. Sep 16 · NEWS · Business Wire Securities class action filed against Doximity in the Northern District of California This is the underlying action behind the period's notices, alleging violations of the federal securities laws. Nothing has been decided. For the sector's software-priced assets, retention and revenue quality are where questions land first. Sep 15 · NEWS · PRNewsWire AMN Healthcare published its 2026 study of the healthcare workforce The study finds clinicians remain committed to care while staffing, workload and leadership gaps threaten readiness — the conditions that generate orders and requisitions from health system clients. Demand-side evidence from a Core-tier operator supports order flow even as clients build internal float pools. Sep 17 · NEWS · Business Wire Doximity stockholders urged to contact counsel about their rights in the class action Broad outreach to holders extends the visibility of the matter and keeps governance attention on the name. Governance attention follows the highest-priced names in the set more quickly than the rest.

5. 05
   M&A & STRATEGIC ACTIVITY

   The Reference Set Is Unchanged — Structure Still Carries the Pricing Argument

   This page shows that the M&A reference set was unchanged this period, with pricing still set by the existing precedent transactions.

   No new sector transactions were added this period — the working comparison set remains the 14 recorded precedent deals already on file. That set still prices around an 8.7x sector median, with Premium-tier names near 10.5x and Discount-tier names near 6.5x. So what: with the reference set unchanged, buyers and sellers are still negotiating off structure and tier positioning rather than fresh evidence, and the pricing argument has not moved.

   Everything on this page

   M&A & STRATEGIC ACTIVITY The Reference Set Is Unchanged — Structure Still Carries the Pricing Argument September 14–28, 2026 · precedent transactions: 14 recorded deals Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. Buyers continue to work from the 14 trailing precedent transactions already in the record, read against a sector median of 8.7x CY2027E EV / EBITDA. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 14 Recorded precedent transactions the reference set buyers and sellers price against

6. 06
   WHAT IT MEANS

   What a Still Deal Record and a Busy Legal Docket Mean for You

   This page translates the period's still deal record and active legal docket into implications for operators, acquirers and advisors.

   For owners and operators, the read is that company records — not sector direction — set the moves, so the discipline is to keep your own operating evidence current. For acquirers, the comparison set held at 14 trailing transactions and an 8.7x sector median, with Premium-tier names at 10.5x and Discount-tier names at 6.5x, so the pricing conversation starts from the same anchors as last period. For advisors, we'd lead with the three-business framing — credentialing and competency revenue, clinician staffing economics, and physician practice management — before layering in the period's evidence. So what: these are observations drawn from the recorded evidence, not recommendations, and they're most useful as a starting point for your own diligence.

   Everything on this page

   WHAT IT MEANS What a Still Deal Record and a Busy Legal Docket Mean for You The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-28 EV / EBITDA (CY2027E) median 8.7x 6 companies in the study 3 valuation tiers Standing thesis: Health Care Workforce Services holds three different businesses, and the market is not valuing them the same way FOR OWNERS & OPERATORS Company Records, Not Sector Direction, Set the Moves Companies in the space traded in a tight band, and the two names that moved did so on their own records. FOR ACQUIRERS No New Precedent Transactions Entered the Record The comparison set is the one already there: 14 trailing transactions and a sector median of 8.7x CY2027E EV / EBITDA, with Premium-tier names at 10.5x and Discount-tier names at 6.5x. FOR ADVISORS Lead with the Three-Business Split, Then the Evidence The period supports the standing view that this sector holds three businesses priced on different logic: recurring credentialing, privileging and competency revenue; clinician staffing economics; and physician practice management.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   This page explains the sources and methodology behind the update and states the report's important notice.

   Every figure in this update links back to the record it was taken from — SEC filings, consensus estimates and market prices through September 28, 2026. This page sets out how we built the update so you can trace any figure to its source before acting on it.

   Everything on this page

   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 14–28, 2026 · market data through 2026-09-28 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Health Care Workforce Services Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. No covered name fell below the floor in this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260929T175023Z_548_prod (market data as of 2026-09-28) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: prnewswire.com · businesswire.com · globenewswire.com

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