We’re not looking to drive the core therapeutics. We’re going to rely on other larger companies that are better equipped to do that. But we make the procedure better, and that can be access, that can be closure, that can be monitoring and protection, that full suite. And we are typically agnostic as to which therapeutic choice the clinician is using. We want to help all of them. And that gives us unfettered access and candidly enables us to punch above our weight for a company of our size. And then we think we bring real value. And when we’re talking to our OpSens colleagues or the prior Cardiva team, it’s about being well enough resourced to be able to deliver the growth that they maybe weren’t able to achieve as standalone entities, but still of a size and a scale where we focus and out execute.
Right? That’s our mantra. We think there is more room to run, in interventional technologies, that’s the primary focus. Eventually, we’ll step out to the next adjacency, but I don’t see that in the near term.
Unidentified Analyst : Great. Thank you.
Operator: Thank you. And our next question coming from the line of Mike Matson with Needham & Company. Your line is open.
Mike Matson: Yes, thanks. So I just wanted to ask one on OpSens deal. So I think everyone kind of understands FFR and PCI, but just in terms of the TAVR opportunity there or the SavvyWire product, can you just talk about kind of the advantages and the reasons that the cardiologists shouldn’t use SavvyWire in those procedures? And can you remind us, I don’t think there’s any other companies targeting that opportunity, but just remind us if there’s any competitors there?
Chris Simon: Yes. Thanks, Mike. We think SavvyWire in TAVR is the shining gem, if you will, in a good portfolio OptoWire and some of the OEM work that we’re doing at OpSens is valuable. But SavvyWire is really the growth engine as we see it going forward. And to your point, it will be disproportionately in TAVR as those procedures continue to expand double digit, right. So we are displacing essentially three other technologies, right, with an all-in-one offering that does the monitoring and the pressure sensing and the guide altogether. And so we think that it is meaningful advancement. I point to some of the most recent trial work, including work that was done by the leading therapeutics companies, where they used SavvyWire.
And the commentary that we heard back from the key opinion leaders that were overseeing that is, to do these procedures without SavvyWire is borderline malpractice. This is just that much better in terms of the outcomes they believe they were able to achieve and the technology support that was gained. So we’ll continue to work and expand that. We think that that paves the way for some of our additional product and portfolio expansion elsewhere in interventional technologies. And we’re proud to have a product of SavvyWire’s prowess to be able to do that on the back of. So stay tuned for more about that. We do have competition there, but we just think the opportunity to displace the existing suboptimal standard of care with an all-in-one product that really delivers was designed by clinicians, for clinicians is the right way to go here.
Unidentified Analyst: Okay, thanks. And then just I guess you’re sort of reiterating the high 20 operating margin target from the Investor Day in 2022. So one of the things that you called out was that the operational excellence program sort of doesn’t end with the end of the program, I guess. But I’ve been wondering, do you need to do kind of another formal sort of restructuring program to get you there, or can you – do you think you can do it without doing that once operational excellence ends?
Chris Simon: Yes, Mike, thanks for the question. I want to start. I’ll let James weigh in on this. But I just want to be crystal clear, right. We came out with those targets in June of 2022. We remain committed to those. They are not aspirational, they’re not kind of some intangible thing. We believe that as we transition and evolve this portfolio, it absolutely has the capability to deliver the revenue growth and the margin expansion that we’ve highlighted. And James touched upon that. I tried to highlight a few of those things in my prepared remark. It is the combination of volume and mix and price driven disproportionately by the advanced technologies and the multiplicative effect that then has on productivity to your point, and operating leverage more broadly.
So we’re excited about where that goes there it’s – there’ll be fits and starts along the way. It won’t be fully linear. But we really like the progress we’re making there. And I’ll let James weigh in. But operational excellence is as much a mindset as it is a program, and we’re not going to back off of that in the spirit of advancing our own productivity.
