Eyal Shamir: Yes. So, as you mentioned, November 1 last year, we got a payment assignment on our CPT III code for breast cancer in a level of $3,428 for the first time ever. And this will be effective after we will get the first FDA clearance, and this will be for a facility fee. So, it’ll be able to offset some of the cost. After we will get the FDA, we will be able to start the process to move from CPT III code to CPT I code, which will include also the physician fee.
Chaitanya G.: Excellent. Thank you so much.
Operator: The next question is from Ben Haynor of Alliance Global Partners. Please go ahead. Ben Haynor, could you ask your question?
Ben Haynor: Sorry. Can you hear me, gentlemen?
Operator: Yes. Now we can hear you clearly.
Ben Haynor: Got it. So, for me, I apologize, I’m jumping between calls here, but just on the submission for a category one – CPT I code, do you think you’ll have enough societies’ support and usage data to submit that next year, and could we expect a code to be in place come 2025? What’s the current timeline thinking on that?
Eyal Shamir: Yes, thank you very much, Ben. On 2019 when we did the submission to the AMA in order to create the CPT III code, we had five societies. Of course, the first one, and the most important one is the American Society of Breast Surgeons, but other four societies, including interventional radiologists, supported that. And we are working very closely and participating to the interventional radiology societies meetings, and they would like to adopt cryoablation for breast cancer. So, they told us that they are going to fully support us for this application moving from CPT III to CPT I code. And I believe that during ’24, we will be able to make this process and to make the submission after we will collect all the relevant data in front of the AMA, which they need to make the decision to move to CPT I.
Ben Haynor: Okay, got it. And is there a chance that you guys might not even need to be kind of a sponsor of the CPT I submission? I ran across another company recently in a different space that the society – the relevant societies actually took it – are taking it upon themselves to bring it through the process. Could that be something that happens with you guys as well, do you think?
Eyal Shamir: Yes, the breast cancer and the head of the Coding and Reimbursement Committee of the American Society of Breast Surgeons, they did it with great support, and together with the American Surgery Society. So, they will give us the support, or they will make it by themselves.
Ben Haynor: Okay, great. Yes, I know you guys have a lot of support. It’s good to hear that. And then on the $3.5 million in minimum purchase targets for the Chinese distribution agreement with the affiliate of Medtronic, I apologize if this has already been asked, but is that $3.5 million over the next several – in the next three years, in the term of the agreement, or is that just for the current year’s period?
Eyal Shamir: No, the minimum quantity that they committed for the coming three years is $3.5 million.
Ben Haynor: Okay, got it. Okay, that makes sense.
Eyal Shamir: This is the minimum for the next first three years.
