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B-Line Medical's Thompson on Video-Based Health Safety (Audio) · Bloomberg Intelligence

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  Speaker 1: Broadcasting live to New York, Bloomberg eleventh, Rio to Washington,
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  Speaker 1: you enhance the delivery of healthcare and at the same
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  Speaker 1: time prevent medical errors and save lives. Well, we've got
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  Speaker 1: the chief executive of a company called b Line Medical,
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  Speaker 1: and we're gonna learn all about it. We're also gonna
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  Speaker 1: the parent of Google. Alphabet shares up now by one
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  Speaker 1: the company reported second quarter revenue that beat analyst projections,
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  Speaker 1: lifted by surging sales of video and Instagram ads, as
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  Speaker 1: well as a boost in users. Facebook is up by
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  Speaker 1: nine tenths, up one percent. David Kirkpactry Kirkpatrick is the
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  Speaker 1: CEO and Fox co founder or founder. I should say
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  Speaker 1: of technomogy media, Facebook is the most targetable ad platform
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  Speaker 1: in history. It's not really you know, talk about mobile
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  Speaker 1: and video with all cool and they're good with new technologies.
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  Speaker 1: You know, they're gonna go into VR and RRA. That's cool.
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  Speaker 1: But the fact is it doesn't really matter as long
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  Speaker 1: as they kind of get that stuff right. They have
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  Speaker 1: more data about more people than anybody else, and that's
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  Speaker 1: what advertisers want. Chipotle Mexican Grill, following through on a
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  Speaker 1: point gain there of point one percent. Gold up five
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  Speaker 1: oil down one point seven percent. One right now on
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  Speaker 1: West Texas Intermediate to thirty two. Now, let's look at
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  Speaker 1: other stories making news. Thank you Charlie from the Bloomberg
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  Speaker 1: News room. I'm rainy in a cent cio. Democratic presidential
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  Speaker 1: nominee Hillary Clinton will be addressing her party tonight, taking
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  Speaker 1: stage in Philadelphia to give her acceptance speech. The first
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  Speaker 1: Bernie sam the supporters booing loudly at times. Speaking to
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  Speaker 1: Tim Kaine, says, the rivaling factions have come together over
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  Speaker 1: the course of the convention. You see the way the
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  Speaker 1: arc of this convention has gone to It started off
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  Speaker 1: with some turmoil and some churn, but there's been a
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  Speaker 1: direct arc to unification and an awareness that the stakes
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  Speaker 1: are high and we gotta pull together to win. Republican
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  Speaker 1: presidential candidate Donald Trump tells Fox News he was not
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  Speaker 1: Clinton's deleted emails and comments he made yesterday. And I'm
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  Speaker 1: being sarcastic with some of course, I'm being sarcastic, but
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  Speaker 1: you have thirty three thousand emails deleted, and the real
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  Speaker 1: problem is what was said on those emails from the
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  Speaker 1: Democratic National Committee. Pope Francis tripped and fell during an
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  Speaker 1: I'm Rainy and Essentio. This is Bloomberg, Charlie, and we
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  Speaker 1: thank you. And again recapping a mixed picture for US equities.
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  Speaker 1: We do have the SMP five hundred index up to
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  Speaker 1: now a gain of point one percent, downd US reels
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  Speaker 1: down twenty five, a drop of point one percent, Gold
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  Speaker 1: up six twenty again the ARA five tenths of one percent.
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  Speaker 1: I'm Charlie Pellot. That's a Bloomberg business splash. Now on
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  Speaker 1: Bloomberg Radio, we take stock of small business. Small businesses
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  Speaker 1: want more streamlining and less red tag. Small businesses accept
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  Speaker 1: the no. Maybe there's so many people that have ideas
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  Speaker 1: and it has to be more than that. It has
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  Speaker 1: to be making it real. Bloomberg taking stock small business
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  Speaker 1: in focus on Bloomberg Radio. Medical airs the third leading
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  Speaker 1: cause of death in the United States, according to a
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  Speaker 1: research study. At Johns Hopkins enter Bline Medical, their mission
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  Speaker 1: provide healthcare educators and clinicians with innovative video driven solutions
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  Speaker 1: to stop this. A company providing technology innovative technology to
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  Speaker 1: over four hundred fifty medical schools, nursing schools, hospitals of
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  Speaker 1: all kinds. During US now here in our New York studios.
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  Speaker 1: Hartley Thompson, he's the president of Beeline Medical. He's usually
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  Speaker 1: in watching d C. Butts out me to people like
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  Speaker 1: us today, welcome, thank you, Caffeine's a pleasure to be here.
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  Speaker 1: So what do you do? I'm gonna sit down and
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  Speaker 1: watch a video what I'm a I'm a nurse, um,
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  Speaker 1: I'm a young doctor. How much difference does that make?
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  Speaker 1: So a good way to think about it is to
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  Speaker 1: look at it as an intelligent instant replace them. So
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  Speaker 1: if you look at the way that professional sports are
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  Speaker 1: records of the NFL, they record everything that happens if
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  Speaker 1: they play it back to improve performance. So we provide
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  Speaker 1: is a similar type platform for both healthcare students, so
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  Speaker 1: medical school students, nursing school students, pharmacy students, et cetera,
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  Speaker 1: and as well as clinicians. So when they actually start
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  Speaker 1: treating real patients, were also recording everything that's happening at
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  Speaker 1: the point of care that's delivered in operating room's trauma base.
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  Speaker 1: Uh I see use, et cetera. And that's used for
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  Speaker 1: educational purposes. After the fact, so it's used to see
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  Speaker 1: if the mistake was made or to review and say,
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  Speaker 1: this is what she did really well, this is what
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  Speaker 1: you didn't do so well, And again it's all about
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  Speaker 1: improving outcomes at the end of the day. Tell us
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  Speaker 1: about robotic surgery because I note that recently you've joined
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  Speaker 1: to support fundamentals of robotic surgery. You're providing a cloud
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  Speaker 1: based video capture program. That's correct. So robotic surgery is
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  Speaker 1: something that's as it around for a little while, but
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  Speaker 1: it's really starting to take to take off a lot
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  Speaker 1: more in hospitals where the surgeons are actually using an
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  Speaker 1: instrument that has a much smaller arms that they can
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  Speaker 1: that they control, and they also have a pedal control
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  Speaker 1: so they able to make a much more precise incisions,
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  Speaker 1: so the recovery time is a lot better and also
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  Speaker 1: the outcomes are a lot better. So what we're providing
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  Speaker 1: is a platform that actually records the video and the
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  Speaker 1: audio of the either the surgery being used in training
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  Speaker 1: or actually on real live patients, and they go back
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  Speaker 1: and review and look to see what we could have
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  Speaker 1: done better using the robotic h surgery device. So you're
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  Speaker 1: in over four and fifty medical institutions. Uh, the company
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  Speaker 1: you aren't joined the company in two thousands seven, it's
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  Speaker 1: about eleven years old. You are you guys who studied
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  Speaker 1: information managements? Really a dream fit for you? What about
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  Speaker 1: the business model? What kind of money you can can
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  Speaker 1: you make on this? You've got all kinds of pressures
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  Speaker 1: now on providers and cutting costs. Where does that lead be?
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  Speaker 1: Line medical? So that actually leaves us in a very
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  Speaker 1: good position as far as business goes. So our business
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  Speaker 1: model is we sell a perpetual license model currently, so
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  Speaker 1: the medical schools and nursing schools are hospitals. They pay
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  Speaker 1: for the product, so it's combined hardware and software platform,
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  Speaker 1: So they pay a one time fee upfront for the product,
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  Speaker 1: We do the implementation, and then they pay for annual
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  Speaker 1: support and maintenance on a recurring basis year over year.
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  Speaker 1: So it's a really good position for us to be
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  Speaker 1: in because, as you mentioned, hospitals are now shifting to
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  Speaker 1: more of a pay for value model that's compared to
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  Speaker 1: pay for service. So we feel that we're well positioned
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  Speaker 1: to take advantage of that and provide a tool that
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  Speaker 1: can actually assist hospitals in figuring out why your outcomes
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  Speaker 1: are where they are, and how to improve your outcomes
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  Speaker 1: and also improve ultimately patient safety and patient satisfaction. Do
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  Speaker 1: you have the black box with you? I do not
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  Speaker 1: have it with me? And help people what is what
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  Speaker 1: is in the black box? So in the black box
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  Speaker 1: is a device that actually cap years the video and audio,
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  Speaker 1: so we call it an encolder, And we also have
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  Speaker 1: two cameras, and we also have a device that captures
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  Speaker 1: the patient monitor display. And that's useful for the replay
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  Speaker 1: aspect because you're able to tie what's actually happening with
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  Speaker 1: either the simulated patient or the real patient as far
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  Speaker 1: as the oxygen level, of the heart rate, blood pressure,
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  Speaker 1: et cetera, with exactly what's happening at that point of
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  Speaker 1: time of the action that's being performed during that point
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  Speaker 1: in time. So that's what comes in in the black box.
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  Speaker 1: So how far are you going to take this? Heartly?
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  Speaker 1: How big can this company get? Where do you want
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  Speaker 1: to go? Do you want to expand in products and services?
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  Speaker 1: If you want to work about global what kind of
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  Speaker 1: profitability and impact you for see for Bline Medical. So
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  Speaker 1: we're wake up every day, we're taking it to the moon.
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  Speaker 1: So you know, again it's a huge market for us
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  Speaker 1: to grow in, and we are profitable. We've been profitable
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  Speaker 1: for the last five years. You know, we're in the
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  Speaker 1: double digit millions in in revenue and we're looking for
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  Speaker 1: fift growth actually on pace this year over five years ago,
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  Speaker 1: over the last five years. So it's a really good
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  Speaker 1: market to be in. It's exciting. You know. We look
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  Speaker 1: at simulation is a really good market that we're the
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  Speaker 1: number one trusted platform and provider in that market. And
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  Speaker 1: we're looking at the clinical space now as a huge opportunity.
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  Speaker 1: So we see it as anywhere from seven and fifty
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  Speaker 1: millions to a billion dollar potential market size. Thanks very
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  Speaker 1: much for coming in and sharing this information with as.
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  Speaker 1: Hartley Thompson as the president of b Line Medical. They
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  Speaker 1: are based in Washington, d C. And they can be
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  Speaker 1: followed on Twitter at b Line Medical. At some of
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  Speaker 1: their I just gotta say, he's taken to the moon.
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  Speaker 1: Maybe we'll get on that on that moon shot with
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  Speaker 1: him when he's when he's on making that shot, right,
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  Speaker 1: come on, you call me when you get there, just
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  Speaker 1: to let you know. Some of their customers include the
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  Speaker 1: Mail Clinic in Minnesota, the Cleveland Clinic, and of course
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  Speaker 1: the Children's Hospital of Philadelphia and Massachusetts General Hospital in Boston.
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  Speaker 1: This is taking Stock. I'm pim Fox My Coast, Kathleen Hayes.
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