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spk_0: ladies and gentlemen thank you for standing by and welcome to their profound medical fourth quarter and full year two thousand and twenty financial results conference call at this time all participants are another and on the node after the speakers presentation there will be a question and answer session to participate on that portion of the call you when need to press dar one on your telephone and says he advised that today's conference is being recorded now our lie to turn it's conference over two years they today he they kill not with investor relations
spk_1: thank you good afternoon everyone let me start by pointed out that a conference call will include forward looking statements regarding about as stuff which may include but not limited to expectations regarding the efficacy of propounds technology and the treatment of prostate cancer bph you don't fibroids powder pain and off the old osceola often but not always for looking statements could be identified by the use of words that's just plan is expected expects scheduled and tens contemplates anticipate beliefs proposals or variations including negative variations of such words and phrases or state that certain actions events were results may i could work mate or will be taken occur or be achieved such statements are based on the current expectations of management avoid looking events and circumstances biscuits and conference call may not occur by certain spots by dates or at all and could differ materially as a result of known and unknown researchers and uncertainties affecting the company including rest regarding the medical device industry economic factors the equity mark it's generally and risk associated with growth and competition although profound that attempted to identify important factors that could cause actual actions events or results to differ materially from those described them for looking statements there may be other factors that cause accidents results to zipper for most anticipated estimated are intended know for like and statement can be guaranteed except as required by applicable securities laws for looking statements speak only of of the date on which they are made and profound undertakes no obligation to publicly update or revise any for like and statement whether as a result of new information future events or otherwise other than as required by law for the benefit of those are new to the profound story i would like to take a moment to summarize our business profound develops a markets customizable and physically therapies for the ablation have to be tissue we are currently commercialized in tulsa prop a technology that combines real time memorize robotically driven trance urethra ultrasounds and closed loop temperature feedback control the technology designed to provide customizable and predictable radiation free ablation of a to find for a volume laughably protecting the urethra and rectum to help preserve the patient natural functional abilities tulsa pro if see a marked how can an approved and fight nk cleared by the up yet we are also commercialize and finally an innovative therapeutic platform that a t mark for the treatment of uterine fibroids and powder paid treatment of bone with that finally has also been approved by the china national medical products administration for the not a day the treatment of uterine fibroids and as recently obtained at the approval and are humanitarian device exemption for the treatment of us the laid off the honor lol we do not expect as ft a d approval to have a betrayal impact on revenues in the near term it is a significant miles on power company and we're making preparations for as you as commercial launch later and twenty twenty one on the call today representing the company or doctor room and lot propounds chief executive officer and eric davis and the company's chief financial officer and senior vice president of corporate development
spk_2: but that said on out on the call over there
spk_1: good afternoon everyone and welcome to our fourth quarter and four year two thousand and twenty
spk_3: on behalf of the management team and every one a profound i would like to thank you for your ongoing interest into center company and for those of you who are shareholders we appreciate your continued support i will turn the call over to a run in a moment for an update on our commercial activities however before i do i like to provide a brief update on or fourth quarter two thousand and twenty five
spk_1: two results one major change you probably noticed from our press release today is that we have changed our presentation currency from the canadian dollar to the us dollar we believe this will result in more relevant in the libel information for those looking at our financial statements and was more accurately reflect the results of our operations especially given our focus on us commercial activities to streamline things all of the numbers i will refer to have been rounded and are therefore approximate for the three month period ended december thirty first two thousand and twenty the company record revenue a two point nine million dollars an increase of thirty six percent year over year and twenty nine percent sequentially over the third quarter
spk_4: when we announced our preliminary on on and revenue estimate in early january two thousand and twenty one ahead of the jp morgan conference we hadn't yet made the switch to us dollar reporting so for clarity this translates to actual revenue of three point eight million canadian dollars versus the three point seven million needed ah
spk_1: our estimate at the time total operating expenses which consist of are indeed dna and selling and distribution expenses were six point one million dollars in the fourth quarter of two thousand and twenty an increase of forty percent compared with approximately five point three million dollars in the fourth quarter of two thousand and nineteen breaking that gone further on a year over year basis expenditures for aren't the increased four percent to two point five million dollars fish was primarily driven by higher spending for the set up and administrative costs of new clinical trials options awarded to employees additional headcount and overall increase to general expenses partially offset by decreases in material costs consulting fees and travel expenses in a expenses decreased by six percent to one point eight million dollars due to lower consulting fees and travel software bad that expense and depreciation which were partially offset by increases and salaries and benefits and service compensation finally selling a distribution expenses increased by seventy nine percent to approximately one point seven million dollars as know didn't or press release and selling and distribution expenses have historically been lower than our engagement however we expect selling and distribution expenses to exceed our in the expenses in the few church as would continue to invest in the commercialization of tulsa pro in the united states overall the company recorded a fourth quarter two thousand and twenty net loss of seven point five million dollars or thirty eight cents per common share compared with a net loss of three point nine million dollars or thirty three cents per comment chair for the same three month period in two thousand and nike how that december thirty first two thousand and twenty profound had cache of eighty three point nine million dollars i'd like to close by saying that while our performance in the fourth quarter again speaks to the strength of our technology and our business model we continue to remain cautious in the near term mainly due to cope
spk_5: nineteen headwinds the impact of which are unpredictable with that on now turn the call over to iran thanks aaron
spk_6: year and twenty twenty marks the twelve month mark of the introduction of tulsa in the united states and in spite of the delays due to come when i'm pleased to report that we successfully executed against our strategic priority in twenty twenty the most important of those wants to start laying the groundwork to drive significant adoption of tulsa trouble in the us and there were two major pillars of that i would like to focus my marks on today first wants to start building a high quality you as installed base in that regard
spk_5: our us market and we strategy for tulsa pro targets three types of and users one early adopters which includes urologists specializing in cutting edge alternative prostate disease treatment
spk_6: two independent imaging centered companies such as redneck and three opinion leading teaching hospitals each of these are unique and play different roles in supporting long term adoption the first too early adopter tulsa pro sites have been feeding a great number and and increasing variety of patience the experience had these centers mirrors what we observe doing our european lines were surgeons initially use tulsa pro to treat intermediate risk patients then started to also treat low and high risk patients and then those with bph the result of that addressable patient population expansion has been higher or the you ladies and then we had expected at the beginning of twenty twenty we estimated that after the first six to twelve months have been operational the average run rate would be forty procedures per year that's really going to one hundred procedures oh boy after that today these centers have exceeded those targets by about fifty percent achieving an average run rate of sixty procedures per year with respect to the second group the imaging centers are pleased to report that redknapp is now actively treating patients using tulsa after initially experiencing delays related to college nineteen midway through the year we increasingly focused on the third group establishing tulsa centers at top tier hospitals the only results of those efforts has been outstanding that the list of prestigious institutions offering the tulsa procedure already including the mayo clinic uti t southwestern medical center well span advanced prostate cancer center and most recently yale cancer center while we have always expected teaching hospitals to be relatively lower volume at first and we're seeing these institutions being particularly impacted by covered nineteen they were made best positioned to help drive long term adoption by training the next and listen
spk_5: of urologist presenting at medical conference conferences publishing papers in relevant journals and participating in additional trials designed to support tulsa pro to potentially qualify for a sixty one code
spk_0: this leads me to the second pillar of our tulsa production strategy which is clearly reimbursement
spk_6: at the beginning of twenty twenty we announced that we had submitted an application for a healthcare common procedure coding system c code from the centers for medicare and medicaid services or cms for the tucked separate procedure subsequent to that we had an opportunity to meet with cms and a number of hospitals the feedback from those discussions as well as from are consultants was that and existing code could possibly apply to tulsa for that reason we are cms to set our application aside and allow the hospitals to decide if they would like to use that existing code
spk_0: while we're not able to provide great amount of detail on the numbers of patience
spk_6: for reimbursement levels we can say that we're hearing from the hospitals that have submitted for reimbursement using the existing code that they are being paid while that is clearly a positive i would like to reiterate as i have on previous cause that we view reimbursement and coverage as a three year plus process
spk_7: and the usage of the c code is the first step
spk_6: of that process in the longer term we expect to conduct additional clinical trials that are mostly designed to expand the body of clinical publication and unable to else approach to qualify for a specific cpt one code and ultimately for cayman coverage the first of those is tech to an extension of the tactile little trial but another thirty five patients to achieve a total number of patients treated to one hundred and fifty that study is on track to be fully and role in the second half of this year as we have discussed before by the end of twenty twenty one you believe that we should have the requisite publications to qualify to apply for a specific cpt one code for cupboards determination however we will need level one studies which we also expect to start recruiting for before the end of the year so to summarize i would like to echo errands comments that there remains significant uncertainty with respect to the tulsa procedures adoption rate in the very near term do mainly to cover like nike however we're energized going into twenty twenty one and remain on track to achieve our long term adoption goals for tulsa from in addition we're looking forward to launching saw leave in the united states later in the year this ends are prepared remarks for today
spk_0: with that were happy to take any questions you might have operator thank you i will will now be conducting that question and answer session and as a reminder to ask a question simply press taiwan on your telephone and to which i have questioned press the pound or haskell one mom while we compiled it can a rough that
spk_8: i first question is from anthony pechanga the jeffries your question please ah thank you no barriers doing well iran maybe to press a little bit on the prepared comments on on backlog and not necessarily focusing on procedures but rather installation cycles can you give us a sense of the average installation cycle pre cold ed of for a new site and kind of were that sits today just in terms of kind of the hurdles that you have to get past and getting
spk_6: a system fully installed and up and running and would you classify actually the installation cycle as the bigger headwind related to call that relative to purely on the procedure side and then i'll have a couple of follow ups thanks so it on i'm happy to i'm so let me describe it might each of the pillars that we talk about he to the three ah different types of institutions that lead focus on the biggest impact in terms of the delays was really in the hospitals and as i mentioned in our prepared remarks are going into the second half that was the a priority for us because we want to get the opinion leaders to get going on this product so there were a couple hospitals where we actually had contracts but they the hospital administration simply did not allow or even the are people to go into installed a system there were a couple of hospitals where we did install the system but then in january for example they were informed that they could not do a new technology procedures and you know sort of got delayed because of that so i you i kind of look at this other one time thing he and i do think that there is some impact and with you or the part of the squatter but the reality is all of these hospitals are now back up and we have installed and they are starting to treat on so to answer your general question though
spk_8: i'm from the time we get a contract for typical start up is somewhere between seventy five to ninety days for us at the moment i think over the long haul i anticipate it will be somewhere between forty five to sixty days but at the moment it somewhere between seventy five to ninety days
spk_6: on that is that answer your question absolutely that's very helpful in and i guess if you correctly a bucket of the to short situations which has contracts in hamburg the company was not allowed to proceed with the tulsa install and then systems that were installed the procedures were not allowed hiv clear that all of those are now installed or is there a certain portion within the first bucket
spk_8: where you still have to finalize the installation of tulsa no we the agreements we the last year and may be very early this year they're not installed and the hospitals are now going as of march with flipped his paid full full operation in place
spk_6: on so i think that part is is is so hopefully he's in a pickle third wave and could that part is now behind us it and and then less from from me to her back in his is a little bit more information on a c code hospitals that were installed lasher actually being reimbursed with that c code a can you remind us or understand the level of reimbursement that's being see them to the c code and whether or not that is on now as for a universal across the install base of tosses at the or it does it vary by region across the country thanks sure of so the you know what we have publicly talked about his in general numbers know the apc code associated with that see vinci code are generally pays in the road between eleven to twelve thousand five hundred and that rains
spk_9: upon what type of institution is applied for certain institutions in lower cost areas or or smaller institution will get the lower end of that certain other institutions that are teaching institutions will get the higher end of it
spk_0: and i think that generally of the hospitals are reporting that they are comfortable with the payments are they are receiving so they they said i couldn't give you a specific hospital or specific number but i think generally feedback is that hospitals are getting paid the amount they expected to get paid
spk_10: that's how far i can thank you thank you
spk_11: and out i next question confound bravo south ossetia with a arraignment answer questions please
spk_2: i'm gonna turn around an errand thanks so much for taking my question he felt like as western really is a fine tune all of these contracts having been installed i'm a i'm a young previous called you referred to the pipeline be quite strong and and your continue to find contract so i clarified that the case where all of the the thing contract that an inside have been installed ordered that carter more contracting find that would be kind of and have created all list of additional installation that
spk_6: we'll make to happen at the hospital constraints start to start to really oh my camp entire either yep yeah as we have contract signed whether or not
spk_10: where their own devices not installed devices not treating patients don't when okay with that it's a time you know it it's a tie main point that what i was afraid to a the agreement that we had last year are installed not all of them might be public had been on either side or anything but are there but we do have new contract that we have some this year which are not installed
spk_6: okay traffic thank you that that important to a clarification yeah i'm on and and then and then so now talking about does that have initial contract that are currently being signed have been signed and yelled the to the hospital constraints that he talked about know how to use are you starting to see now that these hostile consent started you lifted or do you expect that to be happening so them into cute to and ill add that all that of installations skill the come and comes to bear is your team size prepared to to cattle handle that that like them at isolation instead of the by apples here i'm sure road so i keep to the extent that we can help predict what's going on with colvin i think that what we are seeing is in all hospitals are i'm starting to come back to normality to some extent and done you know
spk_5: i would say the other side income so the cause he knew that he has installed on
spk_10: you know we have installed the the systems but getting up to speed and transfer the volume is still going to take some time because with you know they have to start ah getting patients established typically patients on it takes about four four to six weeks for the patients from the time they scheduled the base and to and they actually treat so keen i think they still some uncertainty but i think generally things are heading in the like damage them in time so i'm from you know activity on to your second question i'm a week and as said the we've talked about the heart pipeline is good we are adding you know resources in our company and a pretty aggressive pace and then we have an outstanding team and they are travelling in spite of all the restrictions they've you know
spk_6: they are quarantining as necessary and so on and so yeah i think the short answer to your question is the i do take we will be prepared and install base grows am as the utilities and gross traffic thank you and ago and i'll just one more quick question ill at the c code so he had mentioned that are some awesome hospital that are being reimbursed or up with of the eleven or twelve thousand figure and recognizing that you want to be judicious in calea projections around it so independent clarify how many different sort of see him at contract to jurisdictions are being ah partly reimbursed or of being for them to and being reimbursed and and it's quick that a follow up to that has that sort of had to translate into that any private theory and
spk_10: i spent like that too early to tell
spk_0: hum role i would say you know it's too early to but i'm embarrassed
spk_12: come on only few hospital so i would say in probably two or three different zones are involved at the moment so it's kind of an early on that
spk_2: i'm i'm on the on the private pay
spk_12: yeah i think again the number of patients is relatively small and so it's hard to predict the future but i think i general
spk_13: impression is that have certain private patients are also being paid
spk_12: oh maybe the amount they're being paid is highly variable depending upon what type of insurance they have but the general feedback we have from oslo that that they are getting getting payments
spk_6: great thank you very much and and are back in that you thank you or next question cause some just jennings had cowan no question please
spk_14: great thanks this is actually i kneel on for josh
spk_6: ah i guess first off i saw the ask him that the international reason as i are in play for tells a pro i'm fine arts japan as no one country seen since traction could you talk about the out with the progress that you're saying there and and secondly he has to thought the pro placements image and and europe
spk_5: the have to talk about them the option in there and if if that if lap terrier fourth and that's substituted stokes thought mostly on the yeah the us opportunity
spk_6: a new the to very good questions so first of all in japan we do anticipate that it is outside of the us it is going to be in and party market for us and done the when we do continue to see ah them traction now but we do need to get regulatory clearance in japan and we anticipate applying for it in twenty twenty one of the week it's hard to predict exactly when you get it but in the meantime ah we are getting new orders from japan ah that are based upon their policy of islam importing in chino technology like to direct important policy so we are an innovative technology as they recognize and they're using the direct and called concept to do so so we're not able to advertise into pen at all at the moment but it is word of mouth that is is ah watching and it's also giving us some you know confidence at a once we get them into the approval
spk_15: that it's a market that we do want to and since consultant
spk_2: and as we go through it is plan will keep you said found on that with respect to europe or that's also very good question actually because you know what generally happens is what's happening with us as you know we got our city mark early we started to learn about our technology this type treated patients and that ah education helped us when we came to the united states eighteen to twenty and now and then it happens typically is now that there is some traction at the leading hospitals in the united states
spk_12: you know the europe is starting to pay attention to us
spk_6: but also to say hey this technology something we want to ah ah you know evaluate as well so you know we are starting see more interest whether translates into higher numbers it's hard to say the moment but he has suddenly translating into additional clinical trials that are funded by europeans aren't for us and citing from that perspective i do think long time europe will become interesting also and for certainly in twenty twenty one you will see additional clinical publications coming out of europe that will help us in a globally so i kind of think us is by far our number one priority japan and gonna continue become important to us as the forward and i think you're will will be next or as well great and and if i could just add and one followed question here the there is there's a recent study polish and and jama to stand prostate cancer screening with m r i am in the result that study thing that the gators potential to increase either them or i for prostate cancer diagnosis yes it took that could potentially become or provide a tailwind for for tulsa production i guess particularly with the the imaging centers
spk_12: yes so monday that's also a really good question
spk_0: so there's quite a bit of activity
spk_1: oh and one of the reasons why you know people used to ask us discuss an early on you know is having and i'm are i am a problem for you will you be able to find time when i'm high end what really finding is that there is a sort of of like slow that the am i companies are looking at that leading hospitals are looking
spk_16: ned to see if they can use the m r i for diagnostics as i kind talk about a little bit before also but the clinical work flow from you know and might be diagnosed as to and my based biopsy to tulsa and them are based treatment and and then post follow up
spk_1: b m are based also because nobody really wants to do biopsies unless they really have to do it our chances of us may be replacing biopsy in the very near term is probably no but i completely agree with the concept that there is a lot of were going on at the yeah my companies on continue to improve the imaging technology for diagnostics you might be familiar
spk_6: with the concept of pirates which has been more of a academic or concept where i could the muslims have been using that to stage the patients i think it was to the pirates concept get more and more adopted in the diagnostic well and i think that will lead to on a much more uniform what success so i haven't said anything i what you said but i'm just putting more color into this ah that having multiple companies a diagnostic companies and with our i in technology providing treatment with them i i think it's in sync with what we see as the trend great peggy thank you and next question comes confound can catching red lights tape capital a question from iran and thanks for taking my questions to for you today i'm single lights is asking a little that more directly at thinking at and that around braddock are at around eight act sites in the united states previously you guys have helped us out a little bit just providing some water goalposts to think about installs a on a go forward base itself hoping you guys can help us out as much as you can understand and knows a lot of uncertainty with the environment just trying to get a little better understanding three expectations on installs in this year and then even if you the kind of think our longer term basis that would be helpful as well sure i'm yamuna think frank you're late in the were that eight to ten range of installed i think we're loaded on ah cassettes in the sense that
spk_2: as i mentioned before there has been in will certainly doing the
spk_1: next month of january february there have been some related to start ups away for started bidding what's really from snow and what's not functional mrs install were said not installed but you know having said that i think these are very very short term thing and were more about the long time so
spk_6: i think we're generally likely see the it's time becoming functional sites pretty quickly out with respect to the pipeline night think that that we we continue to see that we have have a good tight line of imaging centers that are interested in adding in tulsa to their portfolio will continue see that the emitting centers that signed up with us last year want to increase their are the number of sites for they want to go with were seen on on additional early adopters are we have a pipeline of additional early adopters ah in our list and we certainly see a number of ah looting hospitals continuing to love to be very and unstated we are in dialogue with more so in this study the rest of this year you will see again opinion leading sites are adopting the technology and i think that i i want to be a specific numbers but i just feel but obviously when we want to be very cautious and and so on but i do think that you know when i look at adoption of game changing technologies the fact that leading hospitals are also leading adoption of the game changing technology with to little bit unusual it is seventy one of the source of confidence that we going for me
spk_16: a couple and then a second one on the utilization front i appreciate your comments on the outperformance vs original expectations by about fifty percent and the utilization the first six to twelve months
spk_17: maybe talk about the second number a little bit of getting to that old for one hundred procedures on a longer term basis do you feel that that's still a realistic expectation or do you think given the cop and some that utilization of the early days you could see outperformance to that second number
spk_0: frank i would say that no one hundred is still a very good target for us am i
spk_2: i do want to start of provide a little more color in the sense that
spk_1: on the the reason why we saw this increases the generally as the clinicians began to learn about the technology more they felt that they could use it in a broader set of patient population so
spk_6: in terms of the fact that this speaks to the fact that we could be applicable to and larger population and thereby by the opportunity is bigger than what we started out with i think that suddenly we feel pretty good about my think you will see our case studies and publications that will be
spk_2: when the show that broader a potential of this technology in this year later this year
spk_1: i'm the i would say at the moment we still think you know using one hundred of the target is pretty good i think in europe certainly vs see that the top commercial sites are getting to be on one hundred you know in the long haul all it's possible but i also think that you know to be honest i think one hundred it's more than average i think we will probably have some sites that don't get then we'll probably have a few sites and will be in a little bit higher than that great thanks for taking the questions
spk_18: thank you frank
spk_2: don't care and forty nine that like and tantamount to ask a question just best taiwan or your town too bad
spk_1: an expression of and down then hang out with a lions club on your question thing
spk_19: newtown thanks for taking the questions at trust me i just another commentary about that sales and marketing and expect it to the an errand the on it is that can i have a sanction all
spk_2: why not say are functional does saw an expense why not but how much of a functional that as say you know potential ah decline and are indeed is recognized the name of the year i can assert a lot of one day is betty and that the year
spk_1: that's an errand question them
spk_2: there's definitely on his commanding and flowing hair band that a division and sales and marketing qui definitely been working on growing a team fairly aggressively to while
spk_6: you know be able to manage the final tom hardy's can bind their point that i'm getting up getting employee and there's also things like were very good year so we include for bonuses in the fourth quarter which spreads across all areas that is not act repeating cost friend syncing key line we a crew had some lower rate ah trapped in europe as to their some also some sort of one time costs and they're lucky for that made it i okay that authentic it or you imagine imagine that son all right cool or or a cat it canada they accounts are they can't types that ah mean you know that the newly added person personnel i are going to be our they are calling upon most frequently him and is it possible to image entire city you know who who is totally get not focus on such as they bought it tall they just on t imaging centers it's hospital executives it's positions geologists interventional radiology radiologist top either okay at the other i had caused they expect to get to your or anything and chair on that front we haven't disclosed that yet at this point i guess as stated got it and then i'm just like out green arsenal leave you got the humanitarian now on exemption arm
spk_18: you don't have you already started having conversation with the force that could be kind of the initial installed in the us or neil whether well saw one of those sites look like yeah and the what what sort of splash are you planning to make when you do launch it i imagine what just the are ah the community
spk_20: are monitoring device exemption that probably not a big one but i figured i better ask the question
spk_21: young know anything could could could could question
spk_0: you know with respect to do that i think we have so far spent most alone time on know what are the try to strategy and what are the target hospitals in a knowing that at the moment it or the capital strategy
spk_2: and knowing that that's a bit of a difficult thing during the in era i would say you know don't expect any field news on that in the first half
spk_10: but yes we do we have a target set of hospitals he is will be mostly pediatric hospital
spk_22: on an done you know hopefully they're i'm you know they have some
spk_2: on
spk_10: you know are you look through their their charity organization from one which might be a little bit different so we are you know we are in no starting to engage with
spk_13: with
spk_6: these last few specialized hospitals and a you may have seen on our website that is an interview ah from our national someone regarding this or that was just put the missed a few days ago so you're right we're starting to get there are i think it's a compelling application that see how it goes okay yeah get a better place for the color guys and that all live in a that thank you them and poor and i last class and cons how like called vanya now rep pls capital yeah i quite simple good afternoon gentlemen and them around congratulations to you and the team i'll take it or thank you michael success during an impossible yeah i'm you received damn while you you you've announced an agreement with ge healthcare in december of last night yes could you just where are the importance of this especially in light of the
spk_23: studies that you hope to see published later
spk_2: this year as it relates to the installed base as it relates to market share and as it relates to the it option
spk_6: yeah absolutely i'm michael the you know let me start by that concept that you know you had talked about is that i do think that am are is going to continue to be an important aspect of prostate management from diagnostics to
spk_24: new treatment to post treatment so there is a lot of attention that dmr company that wedding at it i think the fact that we can fill this one big gap that existed in this workflow i think puts us in a very interesting position so from that perspective you know
spk_6: we're obviously delighted that all three of the big am our companies are working with us obviously that's an important point for us second is that at the high level you know the am our companies have their own specializations and you know the genies for example tend to have specially they said more in the emitting centers
spk_25: whereas siemens ten have more specialization in the some of the teaching hospitals and so on so i think having that flexibility
spk_17: allows us to cater to the the needs of the of our customers try them forcing them to use you know i'm an amateur
spk_0: i'm in on that were compatible it only so it makes it much easier so story for us or took on a conversation for us to to talk about
spk_6: and again at the high level you know g is the largest them our company in the united states and so having access to that install base is really important to us so you know now i'm given that were that only stage is it he it something that we are urgently needed to have and install base today not really because in a generally than the large hospitals will have to have the three suppliers and we have been able to manage so far but i think that as we go forward particularly in a long term it will be an important a very important agreement for us and when i understand correctly they're essentially cheering for costs for the development and and the softer developmental of testing
spk_2: i'm or been our agreements are sort of in when based agreements and so
spk_26: you know we
spk_0: the things that we need to do in terms of developing our software really think the things that they need to do in terms of their development they are doing so
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