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QT Vascular Going BIG
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khairsy
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02-Jun-2014 15:27
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What might be your short term TP?
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haroujf
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02-Jun-2014 15:05
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ladies and gentlemen, start your punt engine.... |
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cleverboy
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31-May-2014 15:19
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CIMB initiates coverage on QT Vascular with an ADD rating and target price of S$0.64. |
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cleverboy
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29-May-2014 23:08
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Hi Dragon, you are a detailed person and I am happy that you raise these questions which provide the opportunity for me to find out more about Dr Eitan and QTV. On your first question http://law.justia.com/cases/federal/district-courts/california/candce/4:2012cv03393/256625/193, I have to first explain a phrase in the article: Substitute Service. Substitute Service means accomplishing service (delivery) of legal documents required to be served personally by leaving the documents with an adult resident of the home of the person to be served, with an employee with management duties at the office of an individual, with such an employee at corporate headquarters, with a designated " agent for acceptance of service" (often with name and address filed with the state' s Secretary of State), or in some cases (like a notice to quit the premises) by posting in a prominent place followed by mailing copies by certified mail to the person to be served. So the event was AngioScore filed a motion for order about serving of documents upon Quattro and QTV. On 9 April 2014, defendents ie Quattro and QTV filed non-opposition to the motion and asseted that counsel for defendents and Eitan had been authorised to accept the service on behalf of Quattro and QTV. Thereafter, AngioScore withdraw this motion. The above is a procedural issue on serving of legal documents, which relates to the law suit initiated by AngioScore on 29 June 2012 on patent infringement against TriReme US, Quattro Vascular and Dr Eitan. This was detailed in page 217 and 218 of the prospectus. In short, the motion for order is about who can receive legal docs on behalf of the defendants. Waste of money but good money for US counsels. And the risk of the legal suit? Extract from pg 218 of prospectus: For the following reasons, the Board believes that this litigation will not have a material effect on the financial position or profitability of our Group: (a) there are no merits in AngioScore&rsquo s claim as the Chocolate PTA does not practice at least two (2) distinct aspects of the 119 Patent and (b) even in the unlikely event that AngioScore were to prevail on its claim at trial, the probability that AngioScore could obtain a permanent injunction against the Chocolate PTA is minimal because AngioScore does not practice the patent. As such, our Group&rsquo s worst case liability would involve the payment of a reasonable royalty on such products made, used or sold in the USA. In any event, our Group has designed a second generation Chocolate PTA which we believe will materially reduce the risks related to the 119 Patent. On your second question about Dr Eitan founded TriReme in 2005 while he was still with AngioScore. This was done with waiver given by AngioScore. Dr Eitan believes that investing in R& D is important. On your third question about AngioScore released a similar product similar to QTV' s, I have to point out that they are different products. As mentioned in my earlier posting, AngioScore products cater to a niche segment of the catheter market. Quote from the press release: The drug-coated AngioSculpt FIH study was designed as a randomized controlled trial comparing the recently developed drug-coated AngioSculpt with the commercially available uncoated version of the AngioSculpt in patients presenting with significant restenosis in a previously implanted coronary bare metal stent. In-Stent restenosis is defined as recurrent blockage or narrowing of a previously implanted stent. AngioScore' s Drug Coated AngioSculpt is targeting patients already with stents implanted that experience recurrent blockage. QTV' s Chocolate and its drug coated chocolate are targeting patients who suffer from FIRST DISCOVERY of blockages in arteries, ie a first choice of treatment that LEAVES NOTHING BEHIND. However, your question about the long term effect is a good one. Medical technology is advancing rapidly. To keep up with the race and to maintain technology advantage and maintain price premium for products, a company has to invest in R& D and build up a good product pipeline. The stent market has become very competitive and I extract paragraphs from results released by Biosensors for info: &ldquo FY14 was a challenging year. For the first time in five years, our total revenue decreased year over year. Despite additional marketing efforts, product revenue grew only 1%, while licensing revenue declined. Overall, we were experiencing a market slowdown and an increase in competition especially in the fast-growing markets such as China,&rdquo said Biosensors&rsquo Executive Chairman and interim CEO Mr. Yoh-Chie Lu. &ldquo Starting in mid-Q3 FY14, under our board&rsquo s direction, we adjusted our overall strategy to focus on improving operational efficiency and productivity while concentrating our investments only on areas with high growth potential. This strategy began to take effect in certain parts and territories during Q4. We are confident that this strategic direction will help the Company improve its performance gradually moving forward.&rdquo &ldquo In light of the changing market dynamics, Biosensors is transitioning from a successful entrepreneurial company to a more diverse and structured international organization,&rdquo said Mr. Lu. &ldquo We need to optimize efficiency and productivity for our existing businesses in current markets while maintaining our creativity and entrepreneurial spirit in areas with growth potential, including expanding our product portfolio, penetrating new markets, and developing new applications for our products. We believe our newly appointed CEO and the rest of the management team are well qualified to lead the Company through this significant transition and bring it back to its previous growth trajectory. With our strong financial resources and the strategic direction that the board has recently set forth, we are confident that we can strengthen the Company&rsquo s fundamentals and operations to further grow our business.&rdquo Thus, it is important that companies operating in this industry has to invest in R& D so as to come up with new products using new technology that brings better efficiency and results to the end users.
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dragonn
Veteran |
29-May-2014 19:10
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Thanks Cleverboy for the information on AngioScore I' ve some query regarding this and somethings I don' t understand. I support QT Vascular because of it' s potential, but one thing that is hindering me is: 1) http://law.justia.com/cases/federal/district-courts/california/candce/4:2012cv03393/256625/193 On February 26, 2014, plaintiff AngioScore, Inc. filed a motion for an order declaring that substitute service purportedly made upon defendants Quattro Vascular PTE Ltd. (" Quattro" ) and QT Vascular Ltd. (" QTV" ) was effective and that this Court has personal jurisdiction over those defendants. (Dkt. No. 176 and exhibits.) After briefing completed, the Court ordered further briefing on various questions raised by the parties but not addressed by them to the Court' s satisfaction. (Dkt. No. 190.) Thereafter, on April 9, 2014, defendants, including Quattro and QTV, filed a notice of non-opposition to the motion, asserting that counsel for defendants TriReme Medical LLC (fka TriReme Medical, Inc.) and Eitan Konstantino had been authorized to accept service on behalf of Quattro and QTV. (Dkt. No. 191.) On April 11, 2014, plaintiff filed a notice of withdrawal of the motion. (Dkt. No. 192 (" Notice of Withdrawal" ).) Accordingly, the Court deems plaintiff' s motion WITHDRAWN. The order requiring supplemental briefing is VACATED. Dockets.Justia.com To the extent that plaintiff' s Notice of Withdrawal seeks various explanations, confirmations, and responses from defendants (see Notice of Withdrawal at 1-2), the Court does not interpret plaintiff' s notice to seek judicial intervention, as it is a notice, not a motion. See Fed. R. Civ. P. 7(b)(1). Therefore, the Court does not address those matters here. The Court' s silence, however, should not be deemed an invitation to further motion practice. IT IS SO ORDERED. 2) http://www.linkedin.com/pub/eitan-konstantino/4/b06/5b9 Based on the profile of Eitan Konstantino i) Founder, President, Chief Scientist AngioScorePrivately Held 51-200 employees Medical Devices industry March 2003 &ndash March 2007 (4 years 1 month) AngioScore develops, manufactures and distributes the AngioSculpt, Scoring balloon catheter for peripheral and coronary vascular applications. The products are approved in EU, Japan and US and are sold worldwide. He is a found of AngioScore in March 2003 - 2007 why did he went away to find TriReme during the last 1 year of his career in AngioScore? What did he did to AngioScore? and he created another buisness TriReme Medical Inc. which runs similar operation of AngioScore, dealing with cardiovascular disease? ii) Founder, President and CEO TriReme Medical Inc.January 2006 &ndash Present (8 years 5 months) TriReme develops, manufactures and distributes products for the treatment of complex peripheral and coronary vascular lesions. The company' s Glider torqueable coronary balloon catheter, GliderXtreme/GliderfleX (next generation PTA catheters) are FDA approved and available in the US and worldwide. I don' t understand why did http://angioscore.com/press_release/pr_061913.html Released a product similar to QT Vascular? What' s the long term effect of this? Need your help to summarise the 1) case on with AngioScore and 2) the reason for creating 2 similar company and letting 1 go.
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mandarintang
Member |
29-May-2014 16:43
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I' m no expert, but I find it strange that for all the stuff that' s been written about QT, be it positive or negative, it stays unchanged at around $0.40, and has been at this level for the past few sessions, and with decent volumes transacted. |
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sheerluck
Supreme |
29-May-2014 06:44
Yells: "Work for your money first then let your money work for you" |
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UOBKY 26 mil share is published info. Can be found easily. But don' t mixed it up with the QTV risk/potential debate. That is on the vested interest of analyst report and is not exclusive to QTV. Now, forgive me if I am being suspicious. If you know you are gonig to strike ToTo tml will you share the ticket with somebody? Likewise, with all these ingredients in place and QTV is going to take off in a big way in the next 2-3 years, will these long-term investors not be willing to put in a bit more $$$ to get it through and offer it at an even higher price when that happens. I reiterate my view is that these investors decided it is time to manage their risk now. I didn' t realise this was by private placement. I thought it was offered to the public as well. If they IPO this coy to the public, based on their performance so far, the response maybe lukewarm and they might not want to risk that. But there is still way to get public $$$ in indirectly. The answer can be found in the new IPO investors (and perhaps the placement shares the pre-IPO investor suscribed as well) and the first 4 days of trading. They want such certainty in securing the required fund showed how careful they are in managing their current risk and the level of carefulness simply equates to the level of risk involved. So far I see these long-term investors has already invested $80mil. If this coy can definitely be worth $300-$500ml in the end what is throwing in another $50mil to them. Obviously it is not a definite outcome. There is nothing wrong with managing risk. We all have to. However, if you are investing in this coy, know what risks you have inherited from those who are already in and what new risks you subsequently faced. If you are just trading, it a different ball game. Okay I have done enough risk assessment of this coy. Looking at the available info, it seems the focus has now turned to M& A which has more favourable evidences and not no longer on how big this coy can go which is more hard to sustain. I respect on the potential of M& A since there are more evidences being presented on big boys acquiring loss-making bio-tech coys for its potential. Also remember that this one got EDB backing as well. Since EDB brought it in, if it toh it looks really bad on them and EDB has also invested our money into it. Hm..maybe got a case but on a different basis now. This is not a call to not buy/sell/trade/invest/contra/short/whatsoever. 
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cleverboy
Member |
29-May-2014 01:57
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AngioScore is being acquired at 4.2x price to sales. The company has 2 products: AngioSculpt PTA and AngioSculpt PTCA. Its distribution is done through many distributors in different countries (no big distributor to help) . Its products were invented around 2003/2004 (old product) and its has no new product pipeline as I don' t find new clinical trial programs on new product. Its products cater to a niche segment in the catheter market, those with serious calcification ie the catheter needs to cut into the plague (see video http://vimeo.com/13334503). It is running at EBITDA of negative US$1.1mil and net loss of US$7.4 mil. AND YET it is being acquried at 4.2 x price to sales. Implication to QTV should be positive. The market for QTV' s products are bigger as its products cover numerous segments (market). QTV are selling many differnet type of catheters (products). It has the big boys to help selling its products (distribution). Drug coated Chocolate is frontier technology/product (product pipeline) which there are about only 5 to 6 players. The bet on this stock seems to be (1) regulatory approval and (2) how fast sales build up. Past cases of drug coated balloons companies being acquired: Invatec was acquired by Metronic in 2010 for US$350mil plus earnouts of up to US$150mil with initial drug coated balloons sales, Lutonix was acquired by CR Bard in 2011 for US$325 mil with CE mark but no sales, CV Ingenuity was acquired by Covidien in 2013 for undisclosed but press speculated amount of US$250 mil with no approval and no sales. So a logical inference would be that QTV deserves a higher multiple if an M& A were to happen. 8 - 10x ?
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mandarintang
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28-May-2014 21:02
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Cleverboy, What do you think would be the implication of this Angioscore deal on QT? |
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cleverboy
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28-May-2014 16:25
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AngioScore has been bought out Spectranetics. http://www.marketwatch.com/story/spectranetics-announces-agreement-to-acquire-angioscore-inc-2014-05-27 CEO of QT Vascular was the founder of AngioScore. |
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sunview
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27-May-2014 17:31
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Closed at $0.40. Only 92 lots were done at $0.395. Selling well absorbed at this level, indicating those who bought up at lower prices were willing to hold on to the stock. Look out if selling subsides. First AGM after IPO will be held tomorrow morning. Wonder if anything new will be released. |
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cleverboy
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27-May-2014 16:57
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Just to share this article published in a medical journal which I came across. Note that the article is sponsored by Cordis. http://evtoday.com/2014/05/novel-use-of-pillows-and-grooves-the-chocolate-pta-balloon-catheter http://evtoday.com/pdfs/et0514_FT_Cordis.pdf |
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cleverboy
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26-May-2014 09:39
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EDB invests in companies that meets its investment criteria. It also has the objective to bring economic benefits to Singapore with such investment. Companies with poor potential would probably not fit their criteria. Whether QT Vascular is overvalued or severly overvalued, this is a very subjective question as one has to take into consideration the time horizon that one is talking about. If you are a trader intraday or intraweek, I would suggest that QT may not be a suitable stock for such trader. If you are looking at 6 - 9 months at the minimum, which should give the company a chance to show what it can do, and re assess again whether the investment time horizon should be lengthened, this may be a stock to consider. Sheerluck says that UOBKH has 26 mil shares. It would be good if you shed light as to where such information is obtained? As far as I know, if UOBKH takes up the share for its own account, it would have to announce this in the IPO balloting announcement. As there is no such announcement, such shares could be likely held on behalf for clients' accounts. Just to clarify some points relating to IPO rules to benefit the uninformed.
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dragonn
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26-May-2014 09:34
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I believe that it could get up to 0.455 and we' ll see how UOB Kaylian acts to it and understand the reliabilty of the 0.51 source. Lets all huat huat big ar, share the Joy for the buisness with everyone! < iframe width=" 560" height=" 315" src=" //www.youtube.com/embed/fLonh7ZesKs" frameborder=" 0" allowfullscreen> < /iframe> http://www.cdc.gov/nchs/fastats/leading-causes-of-death.htmLeading Causes of Death(Data are for the U.S. and are final 2010 data For the most recent preliminary data see Deaths: Preliminary Data for 2011  [PDF - 1.7 MB])
Number of deaths for leading causes of death
Source: Deaths: Final Data for 2010, table 10 [PDF - 3.1 MB]
Atherosclerosis, commonly referred to as the &ldquo hardening of the arteries&rdquo , is a progressive disease which causes a person&rsquo s arteries to become narrow and their walls to lose elasticity due to the accumulation of deposits on the inner lining of these blood vessels. In patients with this condition, substances such as cholesterol, fats, calcium, and fibrin (clotting factors in the blood) build up into plaque and narrow the openings of the affected arteries. As atherosclerosis worsens, it may lead to the blood vessels becoming so narrow as to decrease blood flow. The exact mechanism underlying the development and progression of atherosclerosis is not known, but many scientists believe that it is sparked off by damage to the endothelium, the innermost lining of blood vessels. Such damage may be caused by a variety of factors including elevated blood lipid levels, high blood pressure (hypertension), and smoking. As a result of damage to the endothelium, cellular debris, fibrin, cholesterol, and other fatty substances deposit on the walls of arteries. The affected arterial walls become more permeable to low-density lipoprotein cholesterol, also known as &ldquo LDL&rdquo or &ldquo bad&rdquo cholesterol. Once the &ldquo bad&rdquo cholesterol is oxidized, it stimulates the endothelial cells to secrete chemical substances. This leads to further accumulation of deposits on the walls of arteries at the site of the plaque. As the atherosclerotic lesion develops, a lipid core builds up, damaging the arterial walls and increasing the risk of blood clot formation (thrombosis). The innermost layer of the affected arteries becomes thickened, with a corollary decrease in blood flow in that vessel. Atherosclerosis can develop in any of the arteries in the body. When it occurs in the coronary arteries supplying blood to the heart, the patient is said to have coronary heart disease. The most common symptom of this condition is a radiating chest pain known as angina pectoris, or angina for short. Should coronary arteries already narrowed by atherosclerosis become completely blocked by a blood clot (thrombus), a heart attack ensues.
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dragonn
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26-May-2014 09:09
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Alright hope this could help everyone further Understand QT http://www.myheart.org.sg/article/about-the-heart-and-heart-disease/heart-conditions/atherosclerosis/34 |
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dragonn
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25-May-2014 13:10
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Yeah,i know that, if you read its 8.2% of the diabetes patients will get PAD, this is for diabetes alone.
Other risk factors associated such as smoking also increases the risk.
High cholestrol/bp also can cause PAD.
Added up altherosclerosis that is associated with PAD is one of the top killer in the world,
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sheerluck
Supreme |
24-May-2014 23:22
Yells: "Work for your money first then let your money work for you" |
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Let see UOB Kay Hian holdings of Hafary from 2010 till 2013. 2010 - No data (guess is 185k) 2011 - 185k (trade around 15-20cts) 2012 - 203k (trade mainly around 25cts) 2013 - 3123k (trade around from 27cts to a high of 52cts before dropping to 18cts) UOB KayHian then called for TP 33cts. Hm. Two possiblities here: - UKH bought high and need to push up the prices to reduce losses - UKH pickup at low and want to push up prices to reap more $$$. I don' t know which one. Either way they are not calling a buy with the intention to help you make money. Okay the above is on the agenda of analyst report part. But QT business isn' t the same as Hafary so may have a different fate. One thing to note is QT has EDB backing and EDB has invested in it (using taxpayer money I suppose). It hasn' t pay much tax.....because it is still loss-making and huge. My view is EDB will not let it toh so easily. I believe this is an important point note. I really don' t think the IPO proceed can last long enough unless their sale improve hugely. If comes next year they still cannot generate enough cash to cover future cost will they seek more fund-raising exercise? Let give them one year to prove themselves. One thing I really don' t like about QT is it has no ceiling and floor price. It may have huge potential but huge accumulated losses and negative NVA and NTA atm. You never know when it is severely over-valued because it is severely over-valued right at the beginning. Ok now back to UOB KayHian. First UKH is their placement agent. Second, UKH has 26mil shares which I believe they took up during the IPO. So if you have 26mil share which you pick up at 28cts and you know your analyst report can infuence the market, you wouldn' t take that advantage? For now, it might still be safe from lock-in but see what happened to Figtree (for info Figtree is making profit!!!) whose lock-in expired last week and look at REX which was played to high price on hype and sequently fell. My view remained the same. If it start showing creditable improvement, it has a case. Know what you are buying into. Maybe their balloon don' t burst so easily. My personal view but you should trust your own judgement and conviction. Q1 report coming out in 15 June. Should be an intersting read. Those who are vested, hope you haut big big. DYDD.
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kc0257
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24-May-2014 22:14
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Sorry to correct, you get Diabetes doesn' t mean u have PAD. That is a complication. Likely in peolpe who have poorly controlled diabetes. And usually those are the more deprived ones in every nation. |
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divads
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24-May-2014 16:40
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Uob Kayhian has a BUY call on Hafary, TP: 33 cents, revised to 31 cents recently since more than 1 year ago. u go look at the share price of hafary now :) |
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cleverboy
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24-May-2014 16:17
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UOBKH is a broking house and it wrote a research report on this stock. It thinks that S$0.51 is a reasonable price for the stock to reach, taking into consideration the market potential, the company and its products, the management and its execution capability etc. If there are many patients seeking such treatment, hospitals and clinics and doctors and medical suppliers who provide services and products for this treatment procedure will benefit from the amount spent.
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