Daveen Chopra: Yeah. No, I’ll start off a little bit first on the totality of data. Now with EVOQUE, we’ve implanted and tracked data in clinical trials on over 1,000 patients in various studies. And what we’ve consistently seen is that these patients are patients who don’t have an option. There are patients who are looking for options out there and don’t feel great and can’t do the things that they want to do every day in their life, and that — the EVOQUE technology really makes a huge difference in their life. This concept, the quality of life really does matter for patients to be able to pick up — play with your grandkids, walk up the stairs. It really does matter. And I’m not trying to discount that these other statistics matter, right, mortality, heart failure hospitalization.
Those all matter as well. But we’ve, I think, shown in the breakthrough cohort that we at the starting point have this amazing quality of life improvement. And that’s why our indications about improvement in health status. We’ve got the favorable trend in the other data points, all cohorts mortality, heart failure hospitalization, tricuspid intervention. And those favorable trends, we’ll continue to see more data as we go in the future. But as I mentioned before, we’re going to continue beyond just this study, the tricuspid [indiscernible]. We’re going to continue to gather data on patients. We’re going to continue to gather large data on large numbers of patients to help show how EVOQUE can really help patients. And I think it’s that kind of data, along with kind of all the other key things we talked about, careful physician training, controlled rollout, excellent outcomes, that will really help create this market and really do the market development.
And so, it’s hard for me to speculate how will this compare maybe the technologies like TAVR, same question about mitral, but I’m excited for what it can do. I think there’s so much opportunity to grow this market.
Bernard Zovighian: Yeah. Thank you, Daveen. Well said. And we are very excited. Think about TAVR, 20 years later, we are still generating evidence. We are still innovating with Ultra RESILIA X4. We still believe that there is a way for TAVR to grow healthy double digit in the many years to come globally. So here, for TMTT EVOQUE, it’s probably thinking the same. It is not the next five years, it’s like 10 or 20 years here that we are thinking of.
Larry Wood: Yeah. Just, just to pile on that, having spent so much time in the TAVR space, when we deal with regulators and with payers and stuff, there’s a lot of focus on mortality and people get really almost singularly focused on it. But spending the time with the patient groups that I spend, living longer, but living poorly is not a feature to them. If you told them they had this exact same life expectancy, but their quality of life would dramatically improve, that’s far more valuable to them. And I think when you can get that quality of life improvement and you can get the mortality benefit, that’s where you really have the home run therapy like what we’ve seen with TAVR. And so that’s really what we’re trying to build on. But I wouldn’t discount the quality of life benefits. They’re really significant for patients.
Vijay Kumar: Understood. That’s helpful. And maybe, Scott, one quick one for you on this Q1 EPS guide. I think at the midpoint, it’s slightly below Street. I’m curious on what’s driving that. Is that a step up in OpEx? Or is that a gross margin or below-the-line sort of issue that’s impacting Q1 EPS?
Scott Ullem: Yeah. It’s a couple of things, but largely it relates to just the lumpiness of SG&A and R&D and in what period we record those expenses. Q1, the increase in OpEx will outpace revenue according to our current forecast. And that’s the reason why we end up with the midpoint of the range of $0.64 level with the EPS from the fourth quarter. But overall, it’s important to remember that for the full year, we’re expecting bottom-line growth to exceed top-line growth once you get through the different quarter-to-quarter cadence.
Vijay Kumar: Thanks, guys.
Operator: Our next question comes from Matt Taylor with Jefferies. Please state your question.
Matt Taylor: Hi, thanks for taking the question. I wanted to ask you if you thought that the delays that your competitors having in the US would have any impact on international markets. Does it provide you an opportunity to gain any share? Does it change anything?
Larry Wood: We’ll have to see what the impact is. Certainly, we’ve seen cases where US data has impacted international share in international markets. I think it just depends on what the data is. But I think the reality is there’s been no data released. All those data just simply a signal that they’re delaying their approval and waiting for additional data. So, I don’t know that how much people are going to react to that. The other thing is there’s more that goes into to the purchasing decision oftentimes, especially in Europe than clinical data. And for the people that are purchasing on price because there’s favorable pricing and it’s a significant discount, I don’t know how much that will get impacted.
Matt Taylor: Got you. And can I ask one follow-up on — you mentioned the activation of patients a few times. I know you’re doing a lot there. Are you doing anything new and different there, or is it kind of more of the same? I just was noticing the call-outs on this call?
