Robert Ford: Sure. On the point of care concussion test, I guess I’d summarize the opportunity here in twofold. I think there’s a market conversion component to this, Joanne. I mentioned there are 5 million ER visits to diagnose a concussion. The number one method there to use that is on a CT scan. I think there’s an opportunity here to transform that and allow one to get a faster response in that emergency kind of emergency room visit, which is where the — and the point of care team already have a good position with some of our other blood gas and other assays that we provide to that segment. I think this will slide right into that team. The value proposition here is going to be, okay, what’s the cost of the system and can we bend that cost curve.
I think we’ve shown a little bit how we think about things Joanne, if you look at Libre, if you look at Binax, if you look at how we think about pricing our products, when it comes to market conversion and the opportunities that we have there? We’ll be able to do it at a nice return for our shareholders. I think that’s an important part. The market expansion opportunity that we have, I think is going to still require some work on the product. Right now the product is approved whole blood, but it’s a venous draw. We’re going to be working on a capillary draw and if you can then run this assay, taking a sample from a finger prick, then you can look at bringing that technology even closer to where the need for a rapid concussion test would be.
You could just look at how many universities exist in this country, how many high schools exist in this country? You can do some multiplications there and say, this is a great market creation, market expansion opportunity. I think that that’s how we’re thinking about it commercially, conversion and creation slash expansion. There’s some more work to be done in terms of the product and the claims and the trials there. This will be a multi-year kind of program over here where we’ll start to see kind of nice growth in that segment. And then your other question was about the portfolio and balance sheet. And do we like the four segments? The answer to that is yes, we like all the four segments. We feel that it gives us a real unique view into the healthcare system as a whole starting with nutrition that’s obviously the bedrock of good health.
But then, things happen and you need to get a diagnosis. And we’ve got a great diagnostic portfolio that we’ve been expanding on and building on to make sure that we can capitalize on all the different types of modalities and locations where people can get tested. And then, once a physician knows what the problem is, then they got to run through treatment, right? And we do that either through a medicines business or through a medical device business. I think all four segments are super well aligned to the global demographics and trends in healthcare. And so we like that there’s always opportunities to add, and we’ve shown that if there are areas that we feel that we can bring value in a combination then as you mentioned we’ve got a strong balance sheet and strategic flexibility to do that.
As long as we feel that we can add value to that asset. We felt like that about CSI, we felt like that about St. Jude. We felt like that about Alere. And those deals, they obviously help kind of reshape the company and accelerate our growth rates. But I think that’s predicated on us really believing that we can kind of bring value and we’re not trying to fill some top line gap or some issues. ROIC for us matters, profitability matters. We’ve got opportunities and we could be a little bit more selective to be able to add, but I like the four segments that we’re in. And they’ve been well to shareholders, especially the long-term shareholders.
Operator: Our next question will come from Matt Miksic from Barclays.
Matt Miksic : Congrats on the really strong quarter, particularly med devices. I had one follow-up on the — sorry, here, background. One question on structural heart. Robert, you talked a little bit about the portfolio and the combination of the leading peer device and MitraClip of being a little bit more mature in the category of structural heart, but being kind of augmented by some of these new products like most recently, obviously TriClip. And if you could talk a little bit about sort of the momentum in the portfolio as well as how much of the build out of this portfolio is still coming organically or under review kind of strategically, I appreciate it.
Robert Ford : Sure. I mean I didn’t want my comments on mitral to be construed like that 1 there is slowing down, and we’re relying on others to drive the growth. I mean, that wasn’t the intent. If you look at MitraClip this quarter, it’s high single digits. And if you look at the last 5 quarters, that’s what it’s been doing between high single-digits, low double-digits. And that’s good. But we always had a view here that this is an attractive area of growth, an attractive area of medical need. And we wanted to be a leader here. So yes, MitraClip, I guess we can call MitraClip, the founding father of our structural heart portfolio. But I think the team here has done an incredible job at bringing organic innovation into the portfolio.
So if you look at our structural heart, I mean, we grew 13% today. MitraClip grew high single digits. But it accounted for 3% of that growth. The rest — the other 10% came from all the rest of the portfolio that’s being built. So I think that you’ll continue to see that. We’ll continue to make investments in this business, continue to make investments in the pipeline. I’d say right now, most of it is organic, whether it’s innovating on LAA, innovating on our TAVR side and all the clinical trial that we’re doing there. If there’s an opportunity inorganically, I just put that in the same bucket that I think I answered kind of Joanne’s question here if it makes sense. And we can add it. We’ve got the flexibility to do it. But the whole strategy here was to say, listen, we’re going to build a multibillion-dollar structural heart business that can sustainably grow double digits.
