Ann: East Lancashire Trust to deploy Patientrack and Smartpage, page-63

Thank you for all the kind words.

Over the years, we have all learnt a lot from each other and improved as investors through the open sharing of information and views. In many cases, the views were challenging and forced us to reevaluate our very own investment thesis.

In addition to the market opportunity of the NHS etc, I suspect Kate's recent reference to 'integrated care systems' is still under-appreciated by the market. The capturing and linking of data feeds from local health care systems and GP systems could have a transformational positive impact on healthcare delivery and outcomes.

Unlike the price rise to these levels a few years ago, I do seriously think there is a lot more substance underpinning the price rise this time around. In my view, we are only at the beginning and the real story has yet to play out...