As you look at smaller centers and centers that are less apt to have all the experience that you get out at the Brigham. And our only counter to kind of the GLP-1 marketing push is our marketing efforts which I think I noted briefly that the one center that was one of our three pilots back in a Louisville, actually coming in with more procedure growth this year than last year with Lap-Band based on the fact that they are now doing the marketing are doing the things that we put in place and it’s working. So, that’s exciting for us. But Caroline would you agree that you would have more pent-up demand for people that are coming in to see you this year than versus previous years because of what’s happened the last six months?
Caroline Apovian: There’s no doubt. There’s really no doubt. We’re seeing patients many more patients than we used to because of the media attention on obesity not just the medications, but just the fact that the patients are finally realizing doctors are, but it’s the patients who need to understand what they have is not shameful. That’s what I said on 60 Minutes, it’s the shame that stops people from going to see the doctor about their obesity and this is finally ending because we’re finally understanding that if there is a pill or an injection that can help you lower your body weight set point, it can’t be a matter of willpower, because it’s not. And that’s what’s changed. And that’s why we can get patients in, because they’re looking for medication, but suddenly they’re amendable and open to the idea of Bariatric surgery. I’m not hearing any more, like I used to oh, doc, I don’t want that surgery. I know I can do it on my own. I’m not hearing that anymore.
Anthony Vendetti: Okay. That’s great.
Caroline Apovian: And that’s a godsend.
Anthony Vendetti: Okay, great. That’s very helpful. And obviously, it sounds like your center is a center of excellence. And you have a line and a huge backlog of patients. And but shifting gears Paul, maybe just on two other points here. The agreement is signed the Exclusive Royalty-Bearing agreement with Bio-Rad metastasis, The Private Company, for The Orbera Gastric Balloon System, where is that in terms of being rolled out is that something that’s going to be rolled out before the end of the year? Or are they going to start selling that in 2024 and maybe just any other expectations around that agreement?
Paul Hickey: Yeah. I think, a Bio-Rad have aggressive as aggressive goals there. The project has kicked off in terms of we signed the agreement and we’ve got the two teams from Bio-Rad and from reshape engaging in, as you’d expect sort of the weekly the appropriate cadence of project meetings. And they have aggressive timelines that they’ve stated. I think the knowledge transfer could take longer, in terms of getting what we know over into their hands so they can execute the production. And then beyond the production, it’s about verification validation of their process. So that has the same level of global quality that is needed to pass metastasis with the regulatory bodies worldwide. So I’d expect that I think we’re all pushing to do something this year and to have — I’m sorry we’re sitting here now in November, it’s we’re pushing to get something done this year.
I think we’re now looking at something that has to be in the first part of next year. But yeah, the both sides are eager to get. So initially Bio-Rad get, this product produced and get it done the right way. So we can start the next Phase of this. But I’ll definitely keep you updated on progress and milestones as we define them and have some predictability to it. I’m going to be, I won’t be shy about sharing those with you.
Anthony Vendetti: Okay, excellent. And then, on the cost cutting $8 million in 2024, is that going to are there going to be some one-time charges in the fourth quarter that we’re in right now to account for that? And if so, do you have your time have a hand of what that might be?
Michael Miller: Thanks Anthony. Yeah. Sure absolutely. Yeah. I we’re not anticipating any big charges in Q4, as a result of all of this. And then, if there were they would be one-time in nature. But as of as right now I’m not expecting anything in the millions of dollars if you will. So the answer your question directly no, I’m not expecting anything material. Will there be some? Yes. You can imagine that there but there would be some costs related to new when you do a reduction in force there’s most likely going to be some severance costs and those types of things. So we’ll accrue for all of that during Q4 for.
Anthony Vendetti: Okay great. Thank you for all that information. And I’ll hop back in the queue
Michael Miller: Great.
Operator: Thank you. And this concludes our question-and-answer session. I would now like to turn the conference back over Paul Hickey, for any closing remarks.
Paul Hickey: Great. Thank you. I hope that you value our transparency and consistency of what we’ve expressed during this call. And that’s you’re able to appreciate are enhancing the efficiency and reliability of our company through the revamping of the organization to continue our quest to grow shareholder value as a sustainable and scalable company. We will continue to work diligently to build on our commitment to provide evidence-based personalized devices and therapeutic. As we remain optimistic about the long-term growth potential for the company. A special thanks to Dr. Apovian for participating in today’s call. As always, I want to thank all of our current and past employees. Our Board members, customers, consultant advisers, suppliers existing and new shareholders for your continued support of ReShape as we progress on our mission to become the premier physician-led Weight Loss Company.
I look forward to continuing to engage with our stakeholders’, health care partners and shareholders.
Operator: This conference has now concluded. Thank you for attending today’s call. You may now disconnect. Everyone, have a great day.
