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That's great. So, I think a good place to start is competitive positioning. There's a narrative in the market that Visage and Pro Medicus are the gold standard, doing incredibly well and taking market share. On the other hand, Sectra recently provided updated numbers of exams both globally and in the US at their recent investor day. I found it interesting that the number of exams for Sectra has grown almost 30% over the last five years. They also cite some of the KLAS reports suggesting that Sectra is at least holding their own. I'd love to get your thoughts on the competitive dynamics, whether Sectra loses out to Pro Medicus and Visage or vice versa, and what considerations we should be thinking about.

As you know, in the US, there are basically only two vendors that top hospitals choose between, and that's Sectra and Visage. In Sectra, we win the deals where the IT department is strong while Visage is mostly winning where the radiology department is strong. And the reason for that is that Sectra's solution is broader. It comprises more specialties such as digital pathology, orthopedics, breast imaging. So it's more favorable from a cost perspective from the IT department, while Visage is more niched. So they are really pinpointing the radiologists and that has kind of created a religion in the US it's more when you talk to radiologists, it's either I love Sectra or I love Visage, like an Apple Android kind of thing.

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I'd like to understand better the comment you made about Pro Medicus, that the workflows for some mid-tier hospitals don't meet their needs. Could you explain more about that?

It can be things like workload balancing or integration with different systems. There's a lot under the hood that needs to be tailor-made. Visage or Pro Medicus's strength is their standardized deployment approach, making them super efficient in installations. Look at their gross margin or EBIT margin; it's really high because they don't do customizations. They use a blueprint standardized way, but they can't apply that to all customers, only those that are similar.

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