It’s the right sequence of events. And there – and we tried to get the laundry list there of whether it was manufacturing network, distribution, functional support. There’s a bunch of other stuff, right, so in just real estate, we haven’t gotten all of it.
Q –Matthew Mishan : Is that a 2024 time line by the time you get to that that impacts ‘25? Or is that something which you can kind of get to at the end of this year or start to get to that could also start to benefit you in ‘24?
A –Vivek Jain: I would say some of it. There are some announcements we’ve made on production that will impact ‘24. I think some of the items like real estate or the long-term distribution costs are probably more of an earliest late ‘24 or ‘25 type of item, but there’s a lot of stuff there.
Q –Matthew Mishan : On potential for portfolio rationalization, one of the things that we have seen from some of the peers has been in the ability to sell a couple of assets and the markets do seem open to that. How are you kind of looking at the portfolio and thinking about potentially a positive cash flow event from a potential asset sale like accelerating the debt pay down?
A –Vivek Jain: I mean, of course, in our ideal scenario, all of those options would be available to us, right? But I think, first, we feel good about in most of the businesses we have stability, right? Things are easier to do when you can prove the business stability and things are easier to do when you have the ability to separate IT and manufacturing systems. And we’ve really just gotten to that point where service level is very high to the customer. There’s some business stability in the majority of lines, and that gives us a little time to be introspective on it. Obviously, if the right situation was available, we would explore such an opportunity. But we haven’t had so much time to deal with, yes, today.
Q –Matthew Mishan : Yes. So without talking about like time lines, how are you thinking about a submission of a new LVP pump through the FDA? I think you’ve seen other large players and competitors obviously have some success there now. Do you think they’ve kind of laid down the pathway for you or you kind of know what it takes to get through the FDA at this point? And it could be a little bit more streamlined.
Vivek Jain: I mean, I guess, without trying to be indirect about it. We have $650 million to $700 million pump business, we’re a reasonable-sized player. And obviously, a chunk of our R&D spend goes into that area. The one lesson of having been in the infusion industry for a long time, we understand is, it is unpredictable what’s happened at the regulatory agency. And so we would like to focus on our own product quality and our own innovation, and we’ll talk about it when we have something to talk about, right? We’re not a small player in this space.
Operator: [Operator Instructions] The next question comes from Larry Solow with CJS Securities.
Larry Solow : Great. I guess just a few follow-ups. I guess, just following up on the question just about the pumps, and I don’t know what you can or can’t say, but — does — your operations do you operate differently now that the large competitors back in the market? Is there any change in the competitive environment? I’m just trying to get any feel for what that does to you how you react to that, if at all, or anything you could say?
