H`i, and welcome to Redeye. Today with me in the studio, I have Dan Pitulia, the CEO of Coala-life Group. Earlier this week, you released your Q2 report. What would you like to highlight from the report? I would really like to talk about the fact that we're starting to ramp up in the U.S. We're adding clinics, and we're starting to add a fair amount of number of patients per clinic. We're getting good traction even though it's early days, but it's good traction in the market now, and that's really encouraging. If we focus on the financial aspect of the report, you came in with the net sales of SEK 1.6 million and operational cost at almost SEK 43 million. What was the main driver for the increase in the cost base from the previous quarter, and how should we think about the cost base going forward? The cost base is primarily rising out of the U.S. It's the sales and the marketing resources in the U.S. It's the acquisitions. It's the acquisition cost for new clinics and new customers. It went up a bit in Q2. We expect it to come down a bit, but not dramatically. We continue to be quite aggressive in the marketplace as we see that we're gaining traction from the spending. In your comments in the report, you mentioned that you had some challenges with the onboarding of the patient. Can you elaborate on this and what actions you have taken? Yeah. Yeah, it's a good point. We found that we thought that many more people would enjoy to take care of themselves, and not everybody seems to do that, funnily enough, but that's personalities and so on. We have found that we need to add resources, but more the way we do it, and change a little bit our behavior together with our customers, the clinics. We have inserted clinical specialists into the clinics that help the clinics onboard the patients and create a better bond and get engagement from the patient. That we found that the single biggest factor to successful remote patient monitoring is patient engagement. This has been a driver for the cost base as well, the consultants. Absolutely. The most expensive thing is really the sales force. That's what costs the most money. Clinicians are more expensive than they would be in Sweden, but they're not as expensive as a cardiac sales rep. You added five new clinic agreements during this quarter, and you now have 15 contracted clinics. Would you say that this quarter is representative from what we can expect when it comes to ramp-up pace of clinics? No, I think the ramp-up pace of clinics will probably accelerate a bit. When we measure how long it takes for a rep to get his first customer and his second and his third and his fourth, we see that the time goes from maybe two months to three months down to the next one is only a month and a half, and the next one is only a month because you've been working on it for a bit, you know. The first one always takes the longest. I think as we go forward, we will probably add at a little bit, maybe a little bit faster pace than we have so far. Are there any seasonal patterns that are important to highlight regarding the intake of clinics? No, we don't see any seasonal patterns. Earlier this week, you also finalized the acquisition of Vitrics. Mm-hmm. Can you tell us more about the investment and your expectations from it? Yeah. Vitrics is an up-and-running operation. They have eight clinics on board right now, out of which half of them are generating more volume than the other half, you know, obviously. They have a very well built-up structure, which will be completely merged with our structure, and we'll get good economies of scale because we perform the same functionalities. They also work in a slightly different segment than we do, so they're more targeting home healthcare operations or patients that are under home healthcare, and we are targeting patients that go to primary care or to primary care providers. We are not mixing up the market target. Mm. We get the benefits of synergies back office, as we call it. As I understand it, your strategy is to fully integrate Vitrics and not to run it in a decentralized manner. Can you discuss around this strategy and how far you are in the integration process? We closed the deal on Monday. We actually started certain integration things really a bit earlier because we were quite convinced we would close. What we weren't convinced about was at what price will we close. Yeah. We don't believe that the integration is gonna take a long time. The key people are moving over, and the people we have hired in the meantime have already built a relationship with the people that we're acquiring. Mm. We think it will be fairly seamless. You know, it's not like big integrations I've seen before or done before. Can we expect more M&A activities from you going forward? If we find the right targets, yes, you would. I don't know. Now that we have our 15 clinics, we add their clinics onto the portfolio, then I think we will focus quite a lot of energy on making sure that all of these clinics, plus the ones we already have in the pipeline, start to generate good returns. Mm. We may not be super aggressive on acquisitions right now, but more focused on the established business that we now integrate together. Finally, what can we expect from Coala-life Group for the rest of 2022? Continued ramp-up, continued patient acquisition or customer and patient acquisition, and that this will now start to filter through into the numbers. Because we're so early in the sale process, there are certain delays. You onboard, you get the clinic, you onboard a patient, they start to take measurement, then you have to wait, and then you file the claim, and there's a certain lag in there, and that's why it doesn't really go through down to the bottom line yet. That's, I think you will see in the second half of the year, you will see that that will actually start to manifest itself in the numbers. Thank you so much, Dan, for taking your time, and good luck in the future. Thank you very much.