Ann: India Joint Venture Agreement, page-45

I will keep this short, because the proof will be in the pudding, not the "opinions" stated here.

Secondly, on the topic of "personal assaults" you are the one that initially made accusations about being on "meth" etc

- Respiri will only be entering private hospitals, so your stats on government hospitals are completely irrelevant
- The fact you have lived with someone with a respiratory disorder, is a starting point for your education. In Australia we take for granted an initial 30 mins consultation with a GP where a spirometry diagnostic test is performed - often fully rebated from the government.
- In India a "lung function test" or a "spirometry test" which can take 30 mins is a top end premium service. The healthcare system simply cant handle "lung function tests" for all patients. The average consultation time is actually approximately 4 mins (with nurses/admin staff assisting some patients to free up time for pulmonologists)
- What this means is the majority of asthmatics/copd/ people with breathing tools, get diagnosed / medication etc, without any assistance from diagnostic tools
- pulmonologists/respiratory staff at Tier 1 hospitals, have lines out the door to see them, and its a very unfortunate fact, that people die in these lines (Wheezo could be upsold as a triage tool to prevent some of these deaths)
- If you read my post you will note that I acknowledged 4 mins is not long enough to sell a wheezo product (unless an additional wheezo accredited nurse starts the process with people in the line) Hence I have cut this patient size for each pulmonologist from an average of 200 to 60. Then my forecast of $187m is based on a pulmonologist selling 1 wheezo every 2 hours - not an aggressive assumption at all, given
- MedAchievers are an end-end partner, who 1) have relationships with the key top tier hospitals 2) Spend 3 months consulting with hospital owners, pulmonologists etc to assess what is and isn't working in the current practice of care 3) Work on providing a win-win solution for Respiri, patients, hospital owners and clinicians (that includes incentivising hospital owners and clinicians - perfectly legal for the private hospitals in India) 4) Once this process gains traction in the 200 top tier hospitals, the typical practice is the next level private hospitals (I estimate around 400-500) automatically start selling the product without the same level of engagement from MedAchievers
- Another key bit of intel for the Indian market, is this is not just a product for severe asthmatic kids, its a product for the whole population who struggle daily with illegal levels of air pollution, which is a known major trigger for asthma/copd
- Remember 13 out of the 20 worst polluted markets in the world are from India.
- Speaking of COPD, lets not forget reported figures suggest there are 55m COPD patients in India, who are currently not at all looked after- so many options - could setup clinics with wheezo remote monitoring allowing doctors the ability to know when to transport them to hospitals for emergency care.

Whichever way you cut it a forecast of $100m revenue for Respiri from India is very conservative - and given this level of success will definitely flow on to the product being used in other markets, yes it does guarantee that over time the market cap will be $1bn+ and potentially way higher.

It has been an absolute pleasure chatting with you Breal - have a magnificent weekend!