Ann: Change in substantial holding, page-33

Surgcenter is a service oriented business model based on patient visits and range of available procedures. Mesoblast is a product developer with no distribution. Surgcenter can’t help with clinical trials except perhaps to channel already identified candidates, which pushes what it can contribute a bit further along than just offering a product distribution channel. There lies the possible basis for a JV or some sort of alliance.

If the CLBP indication has the RMAT designation, it will benefit from having a large number of clinical trial sites if it is considered for an AA (cf FDA’s guidance on AA for RMAT designated products). Surgcenter can offer that.