Derik de Bruin: Well, thanks for setting me up Steve. That’s exactly where I was going next. So I appreciate that. When you think — you’ve got Biotheranostics, which is your entry in sort of like the oncology world. I mean there were some dabbling in the past with some things with like — I think with PCA3 or some of this like stuff. How do you sort of think about oncology market? I mean there’s obviously a lot of real estate out there, but I think pointed out that you don’t want to do anything that’s super dilutive in those areas. Can you just sort of — but clearly there’s a lot that’s going on that market and opportunities for Hologic. Can you sort of like flesh out where you sort of think your genomics focus is, where this is going, how it is? Thanks.
Karleen Oberton: Sure, Derik. You’re probably the only person who remembers PCA3. So I think we’re comfortable continuing to be fairly patient. If I look at this overall, right? So I go back seven or eight years, liquid biopsy, it’s going to be the greatest thing ever and everybody thought by 2018, 2020 this massive thing, we kept saying, look, we just don’t know that there’s going to be a lot of money made. So we continue and particularly in our acquisitions, everything we look at is thinking about what is the long term value creation from an earnings standpoint, not just a revenue and let’s face it. As you well know in this industry as well there’s a whole bunch of companies that generate a lot of top line, but no bottom line and they get great valuations when they’re standalones.
You try to drop those into a healthy company and where suddenly the EPS starts to get looked at, you never get that same expansion on the multiple. So I also think for all of the promise, the promise never comes as quickly as everybody thinks it’s going to do. I’m still waiting for gain sharing in orthopedics to take over the full world 20 years later. And I just think as we continue to watch the space, we believe there will be winners that will emerge, but we’re still letting some of those play out candidly and try to see it’s not just a revenue gain or a number of boxes sold or a number of kits sold or whatever else. It really is, okay, what’s our long term trajectory is how we’re trying to think about these things? Thank you for asking that.
Operator: And we will take a question from Andrew Brackmann with William Blair.
Dustin Scaringe: Hey, this is Dustin on the line for Andrew. Going back to a comment you made earlier on Mobidiag and the entry in the roaming testing market. Can you be more specific on the timelines and how you plan to leverage your tampered relationships to drive that forward?
Stephen MacMillan: Yes. We’re clearly entering in Europe right now on a smaller scale. The U.S. clearance will be ultimately the bigger part. And as we said, that’s probably at least a 2025-ish event at this point. So we’re still a few years away as we prepare for it. And we’ll certainly be able to leverage a lot of the strength that we have in the labs, especially the medium sized labs as we go into that point at that point.
Dustin Scaringe: Okay. And I recognize that you talked a lot about M&A already, but I’m wondering if you can be more specific and speak to how you’re thinking about valuations both in the public and private space?
