Motus GI (MOTS)

Bob Yedid LifeSci Advisors, IR
Tim Moran CEO
Andrew Taylor CFO
Mark Pomeranz President and COO
Matthew O’Brien Piper Sandler
Steven Lichtman Oppenheimer & Company
Kyle Bauser Dougherty & Company
Ben Haynor Alliance Global
Boobalan Pachaiyappan H.C. Wainwright
Call transcript
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Ladies and gentlemen, thank you for standing by. Welcome to the Motus GI Holdings Incorporated Third Quarter 2020 Financial Results and Operational Update. At this time, all participants are in a listen-only mode. There will be presentation by the Motus management team followed by a question-and-answer session. I must advise you all that the conference today is being recorded. the to turn LifeSci Yedid to Advisors. like conference Bob over of I’d sir. go Please ahead,

Bob Yedid

company Operator. President you, for quarter Representing Officer; GI. Executive GI us you Chief Taylor, Operating the third Moran, Financial the Officer Officer; call. Motus Andrew update Mark Thank XXXX thank Chief Motus And Pomeranz, everyone and Tim Chief and are for joining of

that over to company. These forward-looking statements I and of minute the the could are call about differ. to as that only conference you subjects cause would to actual these to to Please date opinions turning their note statements remarks, risks results of that management call. webcast our Before reflect opening statements uncertainties and a like this take remind forward-looking will this call for contain the

statements SEC. are remarks, my recent Form and to over pleasure Tim? and in turn CEO. on our We an will from with results statements or in periodic in the implied cause that or results these on publicly or prepared Form those such light forward-looking XX-K, greater filings could any other revise filed X-K call the XX-Q, With future reports of release discussed to forward-looking those differ revisions by the materially new outcomes detail information to to Factors in not of most expressed obligation events. or to undertake it's Tim actual Moran,

Tim Moran

colonoscopy will Andrew open the results. our update remain At remarks, Motus end our to I begin questions. turn and in performance will will you, the and evaluating value like the procedure then a start the you to Thank financial U.S. access and specifically I safe. without or mindshare, significant you, and third thank it call families saying review clinical new call business and volume, as seeing for GI's are your we over providing VAC call prepared Pure-Vu system, Bob, inpatient take created support to of physician to the relates in pandemic the committee quarter. sales current for technology and healthy who to challenges COVID-XX will discuss the by as like relates U.S. a hospitals. by hospitals, to timelines. hope our It everyone rep that and your I'd discussing hospitals environment goes joining today. I we analysis procedures,

end colonoscopy turn XX% up positive reduction Pure-Vu our for showing During to trajectory resuming progress With society QX. declined ramp first-half GI we pleased the started customers, that by the volumes In hindered pre-pandemic of in commercial we speaking GI I'm endoscopy introduction our volumes of towards the massive to reports of report our in XX% QX significantly endoscopy to saw the second quarter, New XX% said, pandemic. a had COVID-XX we of commercial inpatient York published prior and to procedures XX%. approximately to that levels, XXXX. saw the are This in endoscopy, the to in we

turn levels, XX% a rep sales have results, normal September, clinical August more to see in we access and return to started volumes at support began now our on-site in of procedure terms to positive We utilization. As about accounts. and Pure-Vu in our of

to evaluations. new on-site our controls. relates when access conducting accounts successful efficient, is gaining But a implemented it product, particularly stricter as of All critical have launching

the more support effective believe very support with access developed tools remote new is simply person we have in the While launch. product sales have and been we useful,

also We momentum positive have physician accounts. mindshare in at seen our targeted

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analysis to submitted from purchase order was VAC, began first After approval their Pure-Vu placed committee and for for Pure-Vu full implementation. sleeves experience, positive their NYU their review. receiving value their Following

NYU base of be Pure-Vu In indicated addition new effective will of to they for now their that key thrilled incorporates NYU align overall believe clinical and our has illustrates presents improve sites, clinical at we adding utilize prep, will colonoscopies. strategy. patient that believe to Pure-Vu to the We their points NYU management which our outcomes. reference inpatient for any an protocol health several that bowel are supporting inadequate with economic the success with we

use of proactive believe for patients delayed. protocol is of allow implementation to otherwise effective the We and foremost, optimize who NYU for significant. Pure-Vu a would the of this will be First use the Pure-Vu

more to system. consistent and will we For it to upon usage it Motus, use the physicians optimal predictable will based because provide additional helping staff and believe the allow of hospital's us protocol, train Pure-Vu ensure

economic replicate plan other to at across hospitals in NYUs future strategy, expand data our within part their and is clinical clear Next, land provide accelerate system. to NYU systems winning and to can of order other hospital expand This health and path a us flagship leveraging to growth. which we the

site relates qualification to it success. our so to As a by planning doing hospitals, team strategically adding pre-evaluation optimal ensure meticulous process is new implementing and

evaluation several complete such had quarter. Employing colonoscopies As to Pure-Vu of fruit, with in in advance have inpatient from track as major colonoscopy am bear encouraged worked in XXXX. driving insurers substantial the prepped on-site, of to the who example, decision our poorly evaluations new the will resulting was more momentum their than XX hospital to the colons initiate and they continued typically be to are their QX. our hospitals data day in unnecessary which existing in we costs to and by the we that evaluation represented of with will hospital's customers fourth have reimbursed patients quarters resume by nights not a beginning efficient that I the an evaluations this analysis, hospitalization, system, critical additional and supporting we forward as currently conclude an see sustainable institutions. evaluations, period Medicare. of commercial towards Pure-Vu I that an This at several initiating in are learning or renewed presented engagement found a additional paramount hospitals in quarter, XX to ahead. move target results their and inpatient prior pleased with that to efforts we additional at which kicking-off. their site am past targeted XX Midwestern and QX, We large this expect initiated for and in new XX% hospital QX In saw hospitals

the from believe costs before for technology procedures a protected X.X We've a with patent million incomplete and portfolio in a inpatient minimizing is approximately Pure-Vu created time with system the successful We've comprises As the colonoscopy to an potential market year the colonoscopy, associated to I hospitals, need by every of lower reiterate we our global and that delayed approximately and annual to exam. procedures We us X.X U.S., unmet improving and quality the robust in improve a slowed reflect large the reducing and opportunity have on worldwide. mover addresses the inpatient significant demonstrate quarter, to enthusiasm at the in believe the outcomes our million GI. continues we and renewed believe Motus incredible am Clearly, that are pandemic solution we us But want hospitals. the encouraged targeted addressable market. first colonoscopy seeing physicians the I advantage by down. I

excellent end lean a at plan efforts continue to and conditions, adapting organization, our build efficient the become results of to QX of indicators progress off and is clear expect our next and of QX. beyond. an to indicators now market saw have positive will upon QX we acceleration we to We quarterly start see believe in I changing focused and the our I we

partnerships we continue with all more potential medical to device can to scale companies including relates outlook, As quickly. provide large Pure-Vu it to options, commercial our that evaluate to customers bring strategic

Europe, as these the view sleeves to Pure-Vu a markets. means commercialization Asia system strategic the expanding partnerships and other and also of We potential of

the their resurgence principally and COVID, hospitals their to that another on have avoid period Finally, to across of implementing of based respond to greater lockdown. the U.S., as cases a in COVID-XX confidence to relates QX, they in it are indicated experience have measures ability safety our

strategies. will third with commercial financial and will effective our this We results the now for to Andrew monitor recap efficient I to continue quarter. closely and respond ask

Andrew Taylor

us single Thank the thank use suites. for and We everyone joining Tim, from sales reported Pure-Vu primarily of third $XX,XXX revenue quarter you, the today. approximately for of you,

well value each system of contract new committees analysis discussed, these to to at with As Tim month, continue we finalize sites. as working our placements, hospital Pure-Vu grow commercial number procedures as

expect to We our quarter. the see momentum of progress continuation fourth in and a

$X.X per XXXX, loss million of or net period $X.XX, loss compared months approximately a or last per reported three same to September ended the for $X.XX XX, the we million diluted net loss year. share of For a of share a net diluted $X.X

in was to cash During assets period the third of operating for the quarter the same XXXX. purchase of for compared activities used fixed $X.X as million million and net $X.X

$XX.X reflected measures plan This impactful. approximately have from has cash held cash spend of our comparisons of by cash term year-over-year in burn implemented the cost million At results September our announced our XX, been to we loan been now in previously $X loss reducing significantly Valley XX%. Bank. our be included The continue activity. As Silicon net with million This cutting and cash and approximately XXXX and XXXX, equivalents. fully agreement

meet During company believes company net its the balance its now third quarter, over sheet turn the XXXX the $X.X compliance anticipated approximately of QX, the the through equity ensure The covenant sale liquidity and with sufficient to proceeds into securities, be needs of call which Valley million. with back Tim. raise cash its I'll XXXX. will into balance bolstered And to Silicon Bank that,

Tim Moran

to And questions, like of Andrew. just Thanks, key summarize points. taking couple a I'd before

of volume, environment playing call purchase remains create here. to U.S. will continue market, efficacy challenges, steady combination of bring encouraging. sight the And Motus procedure for momentum commercial are a When as shareholder in progress the end our I in GI repeat advantage lose ask the believe saw a the this first is proven COVID-XX It's current not Pure-Vu the our of for size we consider we our patients value important open questions. to we will of While mover in our QX. now Pure-Vu to what the positive to technology, news access, the present rebounding and gains and you QX. both expect across addressable colonoscopy sleeve well-positioned operator and on-site of turn regaining orders at we to The we continues


question Instructions] Matthew Piper Our in. from first join I'll is with Thank Sandler. you you. [Operator O’Brien

Matthew O’Brien

going in can Okay. of QX technology just for and what Thank maybe of exited good talk QX saw you frequently I the of throughout afternoon. you the building we and starters, interest about kind in you, Pure-Vu, Thanks same especially using for as and terms utilization more the questions. guess, forward?

Tim Moran

Yes. Matt, the question. you for thank

purchase, was was evaluation. what our measured as So that September relates is, utilization. And as the well very number consumed to via best as month encouraging were that's Pure-Vu of it sleeves by both

really would I related getting also difficult as in hospitals very it access, quarter and these to encouraging. start August, very We back priorities in just terms the that they July positive part still So really and very the say get details saw new a of was was of and see was it QX, but We in early technology. of middle August, encouraging. the ramp into continuation to in September, October. of up of to we that of won't the then said

So see. nice to that really was really,

being had downtime variety different is that driven about think conversations by we the you of this accounts champions sales an of get in being this have reduced to and what size Matt As with of our a we part seeing But has very, a a it, procedures. opportunity team. very job done experienced these driving in the recall, throughout the excellent prepared. And I productive, of KOL Pure-Vu group lot

So, them to, unnecessary really delays. got least it a patients is to they've resurgence, technology allows as GI there if that at relates that a eliminate

seeing, by of relates good said. what in and But part quarter, mean, we to early to be fourth continuing So, to QX we're the encouraged COVID. seems what nicely. I as I the we're saw far as optimistic, with it We're it's cautiously so the restart. see

Matthew O’Brien

of put Okay. And words Tim. August in July, were your minimal want sounds to revenue like I don't terms But it probably contributions. mouth, into

in You it's it and probably it carried October. here through in saw of sounds most like September then

or thinking is last that modeling to that a So even bit that? ballpark as than thinking little of better did about about going Is you're we're the a from it perspective, XXX,XXX you year. be kind QX

Tim Moran

you QX, you're right, view of tell your the I'll what terms in assessment right. based Matt, part on So my first is, of and comments on

end So, they're the very quarter. of the much

do I and over So, QX, to haven't quarter, guidance the we're fourth the going give as was that guidance, the September talk about see us. you sequential what month to on strong we for want we specific we're not based we're know, sure. really QX not We the going expect for to deals trajectory. because for the to ready but capital's I'm can numbers, to seeing, improvement given will some drivers And what you looking very the kind think think do quarter, due as we that those works. tell COVID. of through that. do difficult fourth look been at of I is I that have really we're capital But in I in is, to the coming some change don't

out So, on the exact of I think that's but realm, to not I'm going don't comment an specifically number.

Matthew O’Brien

QX. And you didn't have any capital deals in

Tim Moran

That's correct.

Matthew O’Brien

that Okay, given is then, as now New York the protocol commentary for the they've in case. of And be got alone, goes, that a prep to again, an single provided? New big quarterly about How it. place just opportunity every Pure-Vu just far as feedback using York

Tim Moran


with to I'll I say too. was really I'll want pleased of color work but done NYU, we what So, and little at is, were bit your apply the question, that a answer

and inpatients. their pipeline. they have Pure-Vu GIs, Latorre, there's terms us with having the in all But in around that it like place. account actually, prepared is one, does of said getting the to proud comes the remarks the board in really pleased us, on and Dr. them how for something I the using And that train just were what is numbers prominent advocates But NYU, Gross as the manage of our and get account allows working different is, support in for to not same really and as of Dr. accounts Because technology. KOL protocol. every been we plan course, protocol of utilization account, we've a and the development, for that, to what Beyond the an on that with

how floors catching to from will, get Pure-Vu rep have from system can drive to So right. us you and will the is everyone best going also they exactly if GI a how the nursing down understands be on-site without having unit, and the utilization, the to But to it it. there utilized, benefits allow sustainable cases, it optimize

figure kind inpatient that think call go So, specifically in do customer. customer, one at to you on as XXX XXX kind They But to don't want to of procedures a year. it far somewhere, a Matt, that absolutely we're six I detail. this, comment give of looking I the

model it So, on, in to based start prepped. you or being kind that call can somewhere that of poorly half range

It's days, pleased. the really early from the repeat But October, we're So, coming we done got we in quarter. at that of NYU. the even end in saw orders

a a site can reference into we believe we and account, So, frankly. that quite great really develop great

Matthew O’Brien

Got do business NYU? it. you of perspective to right of know, are all work, throughout the given outpatient Are there you ago, inpatient, 'XX? of as outpatient going of years see of on XX got terms company and inpatient. kind pickup the pivot the on kind increase far core last Can side those outlook six focus a we from utilization? direction work And then think accounts me. be now, now one these given figure impatient still from about But XX you accounts targeting the Tim, strategic we've as the just meaningful the was I a how for progressed for that for accounts in an as things. meaningful

Tim Moran

that get at facilities of which that of the getting sites that look where does of Yes. one getting the all one, our to beachhead we to come. of listen, we really allows the from was opportunity in kind But, QX. do about now talk really point We'll we at with this kind reimbursement said first the that 'XX pivot But more been priority. built we've of headwinds how decisions terms and a in year, we've is, about us yes, seen we're question. a XXXX kind the and point And sure, the consistent these everything us But to is that. said building of has business. think And day And critical accounts the you fully the gives protocols. talked core to think place that's focus kind reason as our for it to finalize for some foundation these entry system, next. have don't in as Great to this our in outpatient, of know kind was for you point, Matt, investors your and development inpatient, important scale know, of of to NYU, scale like And and you got so protocol, reason that start make I through in we've first in we've that other of that.

partner is strategically have we important I it be why sales where do to a something can to technology would as was of as few efficient kind of and foundation we that, where if and okay, as dialogue you well, to are of to As of like well, informs possible going have got that build. mentioned of resources, you're a with But continued double a we a But to we've you of you've strategic strategic kind going commercial point what course, have an to so that see gives terms we partners. which in down even also first to you step. learned, is do it as using accounts good times, want get and the that enact

going size this what to haven't done at to market So and you tremendous XXXX, yes, team. to Right job, now, continue of as is. sight They've we're of opportunity ramp with build into actually a a we the know this very the lost expect scale really but we start things. lean would

Matthew O’Brien

Thanks it. much. Got so

Tim Moran

Matt. you, Thank


Lichtman, Oppenheimer Please next Our from with and proceed. question Company. Steven is

Steven Lichtman

wanted just accounts some Hi, higher have talked of about you. the you volume Thank the in you Tim, NYU, I ask full. that currently and about have to guys.

thinking poorly majority that prepped that Or the be are just XX% should of number Pure-Vu XXX utilizing not to poorly and be So, get there high patients? prepped. reason yet? overwhelming XXX wouldn't those words, Is a saying to we ability use XX% shouldn't why in other why your

Tim Moran

for Steve, Sure, Yes. question. and thanks the

uniformed, said earlier, as So account, right. you the each know I of obviously, and are dynamics not remember,

market. and So place very we're those protocol job, precise manage inpatients to to in protocol. right. place, there's nice GIs, relates of other said right, large at terms But how which physicians a get with we've the they in we've beginning, done for a that number the like their a reason on it group these institutions, NYU, seven is, many five teaching the getting of and agree percentage a in significant to a model time, procedures month, Why is small they the of have board in while plan that implementing and to sites available this only that of as the able the challenges actual

unless the else GI kind of because allows and it's and bringing standardization GIs difficult hard on or one that a expanding to that got to a math So to protocol sense, implement on of have If docs critical using daily get of on. you've from to basis, a kind then the of technology procedures the the the protocol large number kind protocol. next makes you quarter-to-quarter during get more is

of this putting physicians. it's large a before, new to And sites we on progress that's is and make bring number, frankly, technology whenever out have So the quite some quarter a of management. But said you're I've of one dynamics. change bit will each with there more a these there, where that continue

the new have leading you outcomes that those patient the a procedures clinical done adopters includes change to and up sit on your but bed. frankly, the patient way satisfaction, to improve get can they way not improve So board, technology the early they with improve dynamics in having want where not only right, be quite the and a and economics, want

motivated physicians to they something don't change want that, others are do. some is And by very

physicians. constant to more on trying it's a So focus to drive

physicians really who looking important to writing also large a the facilities you more community, biggest with other need of is others. early started between come the efforts part that more at podiums there have look out getting things you technology, was getting quickly, that versus that, regional, difference part these who's about the some our of of would commercialization. maybe commercialization economics we will, But papers, more done KOLs feasible. and So the I now to add on and along some kind getting because and And if talking centers, sites that's these need flagship, say you

blend. be part of that'll our So

As we accounts, new of base, facilities talk those we've hear about and expect academic in will. if be kind medical a think because would to I QX of and may centers, in that lot names some our reference even we you gotten the not you'll QX, key sites already target

Steven Lichtman

Got it.

And the helpful. about to at be pipeline your targets, Tim color Okay. us can to potential XX potential terms terms looking of then over would of in you in new of forward talk all any the months provide next accounts you here accounts,

Tim Moran

yes. Sure,

is So asked. that I'm glad important a really this point you

there's balance of a that a we So, through, we're need right that right. now balance -- a things working few

from new have XX, into main of our strategy beginning market, then for within effective. system. colleague health us. how vendor sleeves we accounts gives VAC introduce data that what And can system, target system or so same was It board, the site, them they in they comes in order it many talk clinical us cover another critical to XX have get in to number their be So, market down actually we their to we the in economic about manage come can hard a KOL volume is, out someone gives experience. we which and to And hospital was, months within talk we're in of the their the site, said part so the will the the much us improvements. and when these flagship own from and ratio we a us location that system the that the us and folks gives that systems, procedures that outcome right, from It's back reference and to But of QX. the also site. so typically purchasing it up obviously, the one, the in it the approval another becomes balancing technology terms so And on physician the of the Pure-Vu quarters once leading procedure purchasing at a were loss the can and gives

So expand. about land talked and we as

see got just we QX to of So that's are affiliated or the approach other of evaluations we're the some are now flagship And to in now our We've part to that original that from ability are sister starting taking. move systems. the that sites. scheduled

So affiliated that we want to sense. we and move then so and seven you sites grow, that get we protocols, existing same-store first in five month, per because go to to consistent deeper getting ensure when have the the we're getting sites, beating we're want we're sales, revenue, to winning other easier the if than sites, be think those will one in makes

to are stick that XXX we And on. right to -- these think these you we're another the Steve, calling XXX put that sites part of additional systems now, call you If target you affiliated XX at that kind kind that's of it look give all right together, of with.

the get more can more as accounts look to, but with XXXX. look that it XXX, you then get the these I of ready can resources, sites XXX you move size at. team, of current that allows of you we to for So go that's helps. to hope deeper, that we than consistent, get the to gives kind and with their at the accounts affiliated scaling business And be and

Steven Lichtman

up percentage about can be? any of what potentially a and help in it the should couple how have teed me. purchases, you outright XX to thinking the be we to of next thinking over fourth would here for And will you purchases placements be hear that percentage overall, then, months? just Yes, out that look of How in you Great does. as quarter. The that outright lastly terms about that XX provide you're

Tim Moran


This will give believe that of I with you of dynamic crystal accounts and would But a like. the I'll today, is be the covered certain twist the outright disruption look of think So sleeves have what basis lease. my bit based of on COVID be number whether volume right. in Pure-Vu to a Andrew agreement, XX% a to right meaning they're it XX%, of XX%, probably an ball committing puts the a a I and/or quarterly capital of order kind now view in where on under

to probably I the we can bit probably to in I should is today. that have got of able that the you of relates we best say into we give think the we think about But predictions least fourth making volume that we coming budget, but But many in view the were the we'll how the on recognize can and color not of capital think more on color, about have talk terms some that. in at to pull we'll full way don't the be can't, That's we've think until give lease, revenue and recognize on that of many more will in deals sites it's depending a the that's full. early start -- will to start the I our as as leases, of working many little the spend we've the What on that quarter Steve, in equipment. to how parameters to year. can may we And I and based right revenue modeling. do there I quarters. end the XX% trigger agreements, We the capital interest to XX.X seeming today been on dollars should be to fall spend, certain

Steven Lichtman

Thanks, Tim. Great.

Tim Moran

Steve. you, Thank


& Bauser Our from Please question Dougherty Kyle is Company. with next proceed.

Kyle Bauser

milestone we over as taking for if I be of catalyst questions, trial next what good and here. out we expedite example, quarters, the the updates or the sort Hi, thanks Thanks evening. I For think couple this. Apologize up. watching wrapped for? should missed But for my look

another publication OUS in and or a potentially on. But eye of to milestones, get sense of So clinical what keep trials to or underway. an a trying I'm terms collaborations just activities,

Tim Moran

other in a it Why bit there. of for happening our to we let then to you. activities, Hey, Thank some a don't Kyle, relates little just provide areas. come quick me I'll really thank Mark, as ask start, And things back and good color your clinical you questions. add update

some be So just Mark, can on great. you if feedback here clinical provide that'd

Mark Pomeranz

doing I well. everybody. Kyle, hope Hi, Hi, everything's Sure.

going And, Just some mentioned, our to some looking other like, the we're the things on studies, clinical in of relative get in expedite data quick what's near-term. world. that you on as color published and

you'll work, are exciting coming quarter things in or relative think, data those I in So the near see so the out future some in the next so.

which as patients these make I population, So, we're data that really some we our is as these really our be key at with out pushing economic significant focus stuff, arena, in from that perspective, are every data think but to when to it a And that type the with need paramount health bolster getting there. system urgent treat not more out we'll have emergent critical ability we patients continue only significant ICU the starting GI exciting a have which, more look clinical think really, to bleeds really will you help that of there trials our for value critical look patients, drive on the to well. get that efforts for something and hospital are kind at to

Tim Moran

Kyle, does Mark. that thanks, from help a Hey, perspective? clinical

Kyle Bauser

That’s right. excellent. Mark. Yes, Thanks,

Tim Moran

continuing trajectory pipeline others. to looking that continuing to key forward execution track to with with of communicate we talk from in earlier Yes. accounts, next the and more through. able be from think perspective. priority on think the to key that that investors, to our think it kind we're evaluate we'll relates see, things a these made starting as together variety XXXX. board, really, to of today we've right the that's I kind call to a get thing more of Kyle, market accounts, we're protocol back now, and through. this I our call, some, you've be I heard we But different about our exciting things in of are volume think timeline get and we'll now there. And focus key to the quarter And very to that been comment working into continue good partnerships out is a and terms it engagement I of a But that able options we've as consistent the progress is those And and and here first-half we've get with strategic to evaluating can't as got really coming

Kyle Bauser

on? lastly, a upper package indication. great. even here Pure-Vu application for potential in that. identified it's to I And modifications How terms you've working been GI has expanding maybe and as you. No, target the any appreciate natural going Thank activity that Sure. a X the the you're of device, Gen

Tim Moran

and on today. natural think a is this can it we're very in we're Listen, We reason say Yes. be opportunity. what that to interested the it, I add Sure. doing

the a every to what our we time of a And with we focused, executing the given have. leadership talk our are some size that dynamics market team day. team things So, that, we on one all need the people is organization trying accomplish, of focused is we're keeping the that about the of as great particularly strategy team great

want don't distractions. to we add any So,

really us natural about just And I it's perspective, could the of nice very procedures. of of of an esophagus two physician when and their upper have adherent perspective, with was they large with presented extension as physicians terms post that obstruct from opportunity, and to and However, view. a this say our of GI it with after you're at large scoping and Pure-Vu, a just overlaps look with doing. call years a using and clots brought difficulties think a in From that dealing when irrigation at dealing bleed blood I and be the I've we're GI, perfectly. GI very talked point experience a suction vortex what case ports, capabilities GI for number upper fit upper they we some of years before, field by this the upper have, how prominent GI very there's difficult that look stomach, can intuitively And

significantly thing other the is higher. upper it the rate in XX%. XX% procedures to about is mortality It's call GI XX% The

in very is of complication. something is this terms that serious a very, So,

that, with So have as I project. think we an I've R&D before, mentioned active publicly

we're looking a in of for be likelihood, kind it with to of go in timing in are modeling, of working some XXX-K, be or kind the required of work market on to XXXX We would we're of the economic And potential lot market like terms we design. that's of a GenX be of product some potentially analysis, first-half submission in kind which the XXX-K. to health Right when leverage all special this. the now, of already would a the right now hard to looking and place a FDA,

looking extensive approval at a of you're not process. very kind So,

we a focus, something about that's there's to get today, be more So, And procedures And will. you what But XX% it extension natural to XX% it. we're of kind really that I'd real as further, a bullish today. certainly we're we to to done. feasibility think if it's little more bit our doing needs call inpatient

Kyle Bauser

I update. appreciate for that That's jump color. back thanks great. in the queue. And I'll

Tim Moran

Kyle. Thanks,


question next from Alliance Haynor proceed. with Our Global. is Ben Please

Ben Haynor

afternoon, taking Thanks for gentlemen. Good my questions.

for carry more about NYU? even would think but much accounts? than hospital system commentary, how me And in development it their thought the within carry at that like weight would install. listened important protocols, does may protocol maybe But to a like in, weight so more lead or I other the thinking some hospitals varying outside having sounds carry really quite that how one none system of First just does off, it that, cases, having just within even they're bit hospitals already much hospital it to far, in the all. be

Tim Moran

question. Ben, thanks for Yes. the

the first return balance right. investment of, every kind So we look part, that important, on what day, in at it's about so

accounts. same doing don't versus accounts it's metric store little one But volume, XX important your deeper you and that a install an you So, momentum what want is, very to right. continue it's existing balance, more right, accounts sales, into protocol, because want add more

You XX have rather significant demand. want much are accounts and that have protocols it driving

on But think excited And not there's towards second about our what they've are will done, that will. they've you and those one balance it's with communicating other that's that the really wider, the and strategic support part, NYU, is I market we're So, things for months we deeper if accounts the favored that be of how peer than other coming development, leverage kind much KOLs the systems leveraging to about. weeks evaluation only of brought of be for even just And at are had with implemented, sites protocol the around we've did of and that of to what and other and protocol. make recognition in name some assistance analysis from in the can of company where engagement, part they their have whenever the create to quite for frankly, important it's and their gotten that QX, coming so assistance sites. And it, on-boarding ask and accounts peer you more Pure-Vu, some already experience. that decision to itself. support We'll we've we've from new using

that leverage. that's try right we to that we'll and be that And all need for So, the are to I something those continue on things now. right doing sure think to build

Ben Haynor

put being you metric. something per work bit Okay, a more be track little bet, down that in should thinking system then, of I our protocols out trying to front? that utilization able you'll just Or And investors the about is think makes disclose that kind sense. best on a there to how just place. it's mean, road,

Tim Moran

should But lot have along. And And that the sure. trajectory, I and see And other I said starting would accounts it from can is, really it in place, XXX seven perspective, but based Yes, toward possibly the keep we are do think modeling larger a procedures forward be I I modeling, market something to of can as in and couple like COVID it. to last I everyone's sites we'll is more here. analysts been this that, I to conservative, protocols to procedures, as think, we of you the want really we to more now. right for it is and trend mean, that think we end in provide I that was think in kind our point, start to if the turning move we back of to absolutely we to to quarter But that control, to year listen, that and way to COVID, a Ben five getting been of right, and have listen, the a erase metrics not right, on these anyone give get may earlier, right. and start the number further be fast model can. you look just better of XX be a that's terms impacted But it, we said facts. of we what call that's as these then still the by quarters as the able

Ben Haynor

And that were you be or facility Was inpatient colonoscopy you to led then would that think to I patients? you of needs additional that Midwestern patients? utilization guess needs in on half my it be prepped, to Was XX kind that XX same that in I of to response Was mates but front, for visible like addressed this was and the great. mentioned inadequately XX level running previous out to And be apparent study just what XX need system? that one question, a installing guys patients me, the that month you patients? lastly, Okay, it did in. that

Tim Moran

the your right. of question, So, first part me let

there. So, that right. that at with patients, analysis play did XX us of site that was at with they And their means One, COVID. kind a was down they an things of, there about as locked was were roughly so two

technology rep allowing weren't or they access evaluations. So new

impact pays of have for system rather right. data we And dollar that evaluate look which itself, problem. you say, month talked example basically but analysis to about let's committee, the when, track time, information, that of value the go just two, at frankly, product, actually if you there, customer this an you'll you quite So, when to will the lose almost the helpful than to here's be this only one, one

we a to work. other now I that's employ important we that was proud that try the to really it's continue at And of sites. And work where did. can't the learning So, to team really

about was give that So, you or you would to just they were part really, clarify of a just the procedures how important. many many me how can you question, asking need Ben, But your second accounts really see, little.

Ben Haynor

see attractive was the Yes. I kind that of is that asking attractive mentioned is you that Well, it you was XX And both and that per to make XXX need think I of kind procedures was install there, for put guess to to you to volumes level I guess would I the I and to the you hospital? what need be is you level asking, guys. the year out

Tim Moran

from view can You the Motus perspective.

Ben Haynor

and Right. Well too I suppose? the hospital perspective

Tim Moran

we doesn't that look Sure. anyone, just in Yes, was but happen it believe if And total it technologies, we overnight. over market. addressable at will the market, when part so listen, invested unfortunately, time, Motus GI of a we penetrate and large this new other

takes of to XXX and out the that we you're year, if some that You examples there. procedures that, for kind to know full about and to about Motus are starts I why soon their got And we adoption. know Because physicians the can much, mover we had tool that it to their to sense that to market in accounts doing we then conviction do penetrate. these And in get have it's to GI of your things then But have to less year, to through they getting where in it more an unit, the their these in through normal -- they management of fight call we're have time build as able and team with all more using it's the it as there's try be procedure. conviction to to early that's just our go we've inpatient will with, to it larger frankly, hard that's that around know and And procedure, curve quite much market because playing XX revenue GI, the around every point numbers. first to the you dynamics it out and that you foundation us, about makes have steps price. and start work part you you days. routine business. why dollar getting It's just becomes and you because Starting talking contend use of is numerous tipping get in early building a become first these that we've came and day why of more here, billion advantage to market,

a eliminate with after hospitalization, on from that top perspective, for is One and think you disposable the paying just of sleeve the night I perspective, pays for reality if I hospital straightforward. money the Pure-Vu, saving that. one from of a you are customer disposable sleeve procedure. itself can mean,

in in pay the you factor If call it need capital less you procedures year. to given want if capital, or to amortize you do XX for probably to any it

of So done cases for actually to to Pure-Vu. number few hospital be there's have justify that investment of the very a

that I you both of will. kind sides the So coin, answers hope of if

Ben Haynor

No, and perfect looking I that exactly was for. what was

a I'll leave lot, thanks it guys. there. So

Tim Moran

Thanks, Ben.


Please Our next Wainwright. question proceed. is from with Yi H.C. Chen

Boobalan Pachaiyappan

is this Hi, Yi for in dialing Boobalan Chen. you hear okay? Can me

Tim Moran

How Boobalan. Yes, are you?

Boobalan Pachaiyappan

are How Doing you? great.

Tim Moran

Very well.

Boobalan Pachaiyappan

wanted I start approval VAC to So with process. off

approvals revisit the You process? so, kind it you driven several with what committee? think hospitals do that hospital you uncertainties, the If VAC stated previously considering the to and suggestions could take they of And change COVID may might have how process deal for to time months. be

Tim Moran


dealing staffing of quite with then bit of a COVID their a some had So obviously, and frankly, longer. to I prepared and of on just in kind now back lot getting are as remarks, mentioned we take seeing of then And hospitals some the a these processes have normalcy, plate resurgence. and degree and

So been delayed. it's they've understandable that

process the be and a in others I'm my organization say had end, how lot what more in In many there's right, But employ. necessarily that in to a we our terms things on would overhaul successful to building that And, leading we're teams, we've do that of in recommendation a learnings sales and years trying of process. our I believe we can hospital will terms make there's sure can internally. of I of, not that their is,

in approach tools ensure order an our that would them to be in place that every when needed So, one analysis of in through meeting approval a that use occurs. we've walks of methodical people it put value kind everything that pack, of sales really

not is clinical XX So have to a be want days to all then a where agenda, meeting wait have do any not to don't XX need that and champion have have your the case references detail the you days supporting for not what detail, and have or not the on happen, economic you're provided.

the decision. that that's make committee everything can have required So to

I that possible allow talked end, pre So did from as prepared in our about, of you on that just as that get just some we and not being think day. be work other as the separate that may I like approval the things efficient Midwest, yourself companies to that that

we things as So that's talk job We our and the learn we controllables we've that controlling only think every on at lot better from our I month. I and we frankly, good the about end. done that, can get think in a something control internally more Quite customers. a better

you will. process, helpful. are that things of to the trying kinds if that's hopefully So those But, shorten the we're

Boobalan Pachaiyappan


big were a what be that do plan in persist might chunk taken How for COVID-XX new XXXX. steer of assuming the business XXXX? future? steps And So you in not XXXX in to required the

Tim Moran


in we that make GIs be to overrun with patients and issue an to closely, maybe but patient, feel and quite but that coming to the did in emergency, but terms have in But mark, the procedures all we patients, relates obviously, be resurgence, not by hospitals the ourselves or position is we a right terms So, they as find is, elect question the to us, as of they that get an not our a have we seen impact they're the won't about March, broad don't measures to has in that imagine of procedure and concerned of communicated we've place lockdowns. to with indicated prepared, it monitoring we come. access. in been We're have confident there may it you'd now, the our ensure choose, several there in, frankly, might decision talked of it's any of all volumes might that not customers, may

the about, not we go to that. But a through it are right have now, this. you're been as taking they've in we're Those impact strategy, new first replaces learned that. with think customer, to well. If market, being occur, especially close hospitals front lot have back we're existing when So, worked situation talked the we'll or a go-to-market good opposed in on feeling into we market. think tools digitizing to managing a I And, an that expecting eye does I keep a utilized, lot how about of Nothing we share saw. the creating

anyone to to we stay, and need is, the things eliminate is right remotely, in system of value prepared out And really and of about this basically one, a hospital the said, being I in to big from the to minute as there, bed the important. be a getting before trying day length proactively launched now front prop, throughput reiterate staff of do COVID-XX, that think and remind customers the we knew remarks, we have we're in the physician patients device and So from the is will. takeaway get product, that But again, the in. this that our they is thing I do to don't if unnecessary even to increase

was messaging with we looking us which that issue, hopefully, continue fix be overrun that would to a of lockdown there I would to see if technology hit kind being allow them hard. So, patients. facilities to was And their

of and with some customers, to that at are look to you will. those communicate if the our So, continue things we'll continue

Boobalan Pachaiyappan

Understood. Thank That's me. it from you.

Tim Moran

Thanks it. questions. I for appreciate the


of to turn the management We would over closing call question-and-answer for I like to back our session, have reached the end remarks.

Tim Moran

we'll for thank forward do interest GI look next in I current just remains the their the want progress. update Motus on to hope today. Great, everyone thank QX giving safe healthy in questions, I their calls, and to our environment. And everybody an and operator. their And you, call in

for today. thanks joining So again


you. conference. Thank does conclude This today's

this lines at for You thank your time may you disconnect and participation. your