chose today as a day for the event as we just had our first ever group wide virtual new product show. If you found the time to tune in, I hope you find it inspiring. Let me briefly run you through what we have in plan for the next 90 minutes. So basically, we have for the event with us, Investor Relations, you will throughout the whole 90 minutes have the chance to send us your questions via chat function. We have already received the first ones.
So it works. Hence, please also do use the time while the presentations are going on to send through your questions to us. We will then sort the questions, and we I will read them out to Andre, Deepak and Michel. That's all you need to know. Now I would like to pass the word on to Andre Artoom, representing Imaging.
Andre, the floor is yours.
Yes. Thank you, Marc, for the kind introduction. Hello, everybody, in our Imaging section of the Meet the Management meeting. I hope you are all safe and healthy. And I'd like to start with a little note on the imaging business and these tough times.
I mean, I think we have shown good resilience of our business in times of the pandemic. And maybe on a note, we are looking into the procedure levels and how they are developing. And what we currently see is that in all the various modalities, the procedure levels are back on level that we have seen pre COVID. So but before I talk to fiscal year 2021 and how do we look into that and the new topics that we have as value for our customers, I'd like to give you a little recap on the strategy of imaging. So in Diagnostic Imaging, we utilize the strength of digitalization to make sure that we innovate the core but as well tap into adjacent profitable growth fields.
And how do we do this? A, we look into intelligent imaging. So automized processes, making machines smarter and significantly easier to operate. Secondly, we're looking into streamlined operations. So we use data, operational data that we have from our machines and turn this into valuable insights for our customers in order to improve their operational efficiency and streamline their operations.
And we focus on AI powered clinical decision support by, on the one hand, helping the physician what he's paid for, reading images and making the diagnosis with the ARRAD companion and in addition, integrate data from eye from other diagnostic specialties into this with the AI Pathway Companion makes it patient specific and disease specific and lean towards more informed decision making. So some of the recent highlights. For those of you who joined last December, you are aware that we launched the CT Somatome X Sight with my XM companion on board. This is the first built in navigation system to make the performance of complex procedures significantly simpler. And I think we hit a pain point there.
When you look now in one of the more complex procedure like cardiac imaging in CT, we can observe that 90% of the customers are actually using the XM Companion in order to perform a procedure. And when you move to the right, the EZIO X PRE does as well come with my XM Companion as we now enhance all our products with this technology over the course of time and that received just recently FDA clearance, so we can now promote this as well on the U. S. Marketplace. When it gets to streamlined operations, yes, in COVID times, technologies that enable you to manage complex system remotely with single virtual cockpit, of course, gain a certain tailwind.
We have currently a rollout in 16 countries, and 100 and 16 institutions are utilizing this technology to connect virtually to systems and control them remotely. And in particular, in the last two quarters, we have seen a significant dynamic there and expect that to continue as well in fiscal year 2021. And we increased further the connected devices to our Teamplay digital heads platform, the largest of its kind. And now we have over 30,000 devices connected, and they'll gain the scale, which is important because this is basically the platform where we do offer our all our digital solutions through the customer. On the eye powered clinical decision making side, AR Rad Companion is gaining commercial traction.
We have processed, in the meanwhile, more than 100,000 cases. Just recently, we launched 4 new extensions. And in particular, we had a lot of cases around COVID. I get to that later, and I have a dedicated slide to that because we focused our R and D effort immediately towards COVID, of course, once the crisis became obvious. And on the Pathway Companion side, I explained to you last time, it's more project related, yes, that will take a little bit of time.
It's a little bit more of an installation work. And so on that, we see that this is becoming a very decisive element when it gets to large U. S. Accounts and value partnerships there, the Pathway Companion, because it helps you really to improve the diagnostic decision making process, becomes a very important strategic element of this deals and decision factor to buy Siemens actually. So I think we are well set to now reconfirm what we have committed to in last December, yes, to our upgrading ambition that we are growing to continue to grow more than 5% on the revenue side, that we continue to gain market share, that we will grow the service business in the same magnitude and therefore, expand our number one position.
And on the next slide, I would like to give you now just on at a glance what are the highlights. I would like to talk about a little bit more in-depth, yes? First of all, our new Magnetome member, the Free Max, really breaking barriers in MR. Secondly, Zingo Carbon. That is our new answer to Enterprise Imaging.
Then some recent highlights and updates on the Red Companion and then finally, a little bit an outlook into the future, not too far away future, with photon counting and where do we stand and what can you expect to come. On the next, Let me introduce you to the MagnetoM3 MAX. Banking barriers and MRI, what does it mean? I mean, when you know MR systems are pretty complex actually to operate. And we leverage there as well digitalization by utilizing MyXM Companion, so the next member of our product on board using this technology to really make the operation of this system extremely simple regardless of the operator skill.
So this is really a paradigm shift in MR. Then it is a completely new designed type of system. It is the most compact one. It comes virtually helium free, 0.7 liters of helium sealed. So that will relate as well to significantly reduced operating cost.
But even more important are the extremely minimal sighting requirements. You can compare the installation of a Magnum Free Max with an installation of spaces where it would have been never possible in the past to put an MR in. And at the same time, it's the world's first 80 centimeter bore, CT, so the largest bore on the market setting new standards and patient comfort. So plus addressing new clinical arenas. You see the lung there, lung imaging, kind of not yet the strength of MR, but we found smart reconstruction technologies and the eye based reconstruction technologies in order to get there to an image quality.
That will, at the beginning, be subject of research, but will open up as well new clinical indication spaces for MR so that we when we talk about breaking barriers for MRI, we are talking about accessibility, affordability, addressing new clinical fields and bring it into spaces where it has never been before. On the next, I want to highlight single carbon. This is really about consolidating IT assets. You know that when you look into the radiology value chain, you work on various workspaces. You have something for advanced visualization, doing the post processing.
You have a PAX reading environment and a reporting environment. And what we did is we put a layer on top, and we integrate all this into one view and one workflow, including reading and reporting so that you have from the scan to the final report always the same UI and supporting all the steps that you need to do in the radiology value chain. And at the same time, you have access to all the data available and the various other IT systems. So this is a scalable deployment and will as well help us to generate additional revenue streams. On the next level on the next slide, I would like to give some highlights where do we stand with the AR Rad Companion.
That is available roughly for a year right now with the first version. That was the AI Red Companion Chest CT, where you see an example of a COVID patient in the lower right picture. But I would like to draw your attention first to the upper right picture. This is what you have to do when you do radiation therapy planning. You have to contour the organs.
This is a pretty cumbersome and manual process typically that even for a trained person, it takes easily 20 minutes to do this. If you do this AI based, then it can be performed within 2 minutes. At the same time, accuracy here, of course, is extremely important. And we see that the vast majority, 97% of the cases, do not need further physician correction, which is true for both of the companions we display here, which shows you that there's a huge potential as well to really make the physician focus on the severe topics but not have to focus on the things that easily can be done with AI. So in general, we're improving quality, we're improving speed here.
Once COVID hit us, we immediately, together with our worldwide network of collaboration sites, looked into a rapid development of a pneumonia analysis tool. We brought this to more than 300 sites as a research version. More than 80,000 cases have been processed. Now this is commercially available as part of the AI rat companion chest. And of course, it's a good starting point to turn now the research prototypes into the real product.
And when you look into the strategy there, yes, we scale now with new clinical extension as well throughout this year. You will see on cardiac CT and on the neuro CT, new functionality on the Rad Companion side and as well on neuro MR. And so continuously, we move through the human anatomy, cover the entire body and focus on top of this on specific tasks that take a lot of time away. Now it's time to look on the next slide a little bit into the future. So this is about photon counting, yes, which really we see as a new era of computed tomography.
And look into when you look into the picture at the left, this is a stand. And you see on top in this picture a real 4 millimeter stand. This is how it typically looks like. And then what would be the resolution you get with the current technology. And then on the lower end and on the bottom of the picture, you see what the resolution is looking like with photon counting CT.
So this is a significant difference. And this advantage of high resolution, you can see as well in this inner ear bone structure on the 2 smaller pictures on the bottom on the right. So it makes a huge difference. It's 2x higher resolution as compared to what we get today. It's like, yes, when you move from a regular TV to ultra high definition TV.
At the same time, we drastically lowered a patient dose up to 50%. So we are moving closer and closer to X-ray doses that are known from conventional X-ray in all the anatomy. And we get all the time multi energy information with every scan, which is one of the main advantages, of course, of counting CT because then you get additional specific information of what you see. And for instance, being used in the differentiation of tumors, yes, you can, for instance, in the liver easily differentiate between a benign and malignant tumor based upon multi energy information. So what is going to happen next?
We will enter now a clinical evaluation phase with a few luminary customers. And in order to make sure that we have really enough proof points for showing when we do the real launch from day 1, the clinical advantages, not in theory, but really based on first studies being conducted showing the advantage of the technology. And then once we have that done, you will see the real launch, the full market launch. And yes, it is not too far away, yes. We'll be kind of in the range of a year from now around that point in time, yes?
With that, I have finished my part of the presentation. Thank you very much for your attention. And I'd like to answer your questions.
Great. Thanks a lot, Andre. So and we do have quite a number of questions already at hand. So the tool seems to work. So I will start here from top to bottom.
So it's basically it's Scott Barler from Berenberg asking you, for your new MRI, how important is the wide 80 centimeter bore size in penetrating new indications outside of classical radiology? And then you would also like to know could Magnum FreeMax be as successful or more successful to the ESPY open bore, which took material market share 15 years ago?
Yes. I mean, I'll start with the second one, yes? I'm very confident in terms of the success of the system. I mean, in fact, when you look into the current portfolio, it doesn't have a real predecessor. It's really the first of its kind, yes?
When you look into the overall compact design, yes, the lightweight, the size of the magnet. So this is really the most compact MR I have ever seen, yes? And when you look into this and how many MRs are not being bought today because you cannot you don't have the right siting requirements or you are not about to invest as much in the reconstruction work as you would have to invest in the scanner, sometimes more, then, of course, you open the complete new opportunity spaces. And as well, when it gets to to when you think about urgent care centers, for instance, yes, that is typically equipped today with CT and conventional X-ray, but MR is a little bit out of reach frequently due to the siting requirements but as well to the financial burden, yes, coming with it. And now we lower the SPA because of the favorable TCOs and the very low siting requirement.
So I'm convinced that we open here really spaces in areas, Orthopaedics, maybe another space, yes, very interesting, where we simply haven't been present before. And I'm convinced that from an emerging point of market view and as well a developed point of market view where MR simply hasn't been suitable, we will see tremendous momentum there. Okay.
Great. Then we have a question here from Lisa Clive from Bernstein. She would like to know if the Magnum FreeMax is a 1.5 Tesla machine. Any plans to launch a 3 Tesla version of a low helium platform?
Well, I mean and currently, we do not even have the MAX 3 available for shipment. Yes, it's coming more towards the end of the fiscal year. And well, that such kind of a technology is an interesting potentially as well for other field strengths, yes, I mean, when you are an R and D driven guy, then you start think about something like this, of course. On the other hand, when it gets to the field strengths, now it comes with a new field strength and with this 0.55 Tesla. Tesla.
And we have a dedicated AI driven reconstruction technology behind it that enables you to get to an image quality which is really comparable to what you get with 1.5 Tesla and at the same time, handles complex topics, yes, that you typically have in MR like metal artifacts from implants, which is which we can solve here in with this type of technology much better than with higher field strengths. And the same is true, by the way, for the lung. This is a certain advantage, yes, combining as well with AI technologies that we can now have the first time as well a realistic clinical indication on the lung side.
Okay. Great. Now what basically really fits straight to that question would be a question from Patrick Wood, who would like to know how are you guys pricing the FreeMax versus a more traditional MR system? And will the service contracts work in similar way economically as they do with the current with other machinery?
Well, I mean pricing, as you know, is always subject to regions and countries. So it's not all the same, yes? However, it will be more from a price performance point of view. It will be more on the entry But it comes with very favorable TCOs. The service type of contracts are similar to what we will have with other systems.
But overall, the TCO for the customer will be quite attractive as typically as well the service price is a percentage of the overall purchase price. So and because it's typically then attached to this, yes, in terms of margin, this is a very you know that in imaging, we have margins above 20%, and you can sure this will greatly add to this, and it's going to be margin accretive there.
Okay. So then one more question on the MR before we move on to software. We have a question from Daniel Van Dorff, who would like to know what customers do you expect to buy the Magneton FreeMax in the 1st place? And how important will it become for your MR franchise? And then maybe adding to that, what are the key decision points where customers decide for Siemens Healthineers machine solution?
Yes. Okay. I mean, this is a good question and quite a few questions at once. Well, when we're looking into customers, I mean, some of this will be traditional MR customers who just want to have, for instance, a backup system or want to place a system in their outpatient facility where they would, in the past, maybe not have considered an MR to put in. We will see interest from my point of view as well in this emergency care centers as well in the ICU, where we, by the way, will have as well test sites, yes, so very, really new arenas of orthopedic, may become an interesting aspect as well there.
And then, of course, emerging markets, as I mentioned, yes. So in the overall portfolio, it will play a big role. I mean, this is certainly it's not the most expensive MR, but this is a it's a number game, a unit game, yes? So we expect high unit volumes to deliver with this system, translating, of course, then as well into the respective volume and top line on the MR side, yes, it will play a substantial role in the overall P and L of MR and of imaging.
Okay. Great. Then let's move over to software. A question here from Falko Friedrichs from Deutsche Bank. Do you plan to monetize the single carbon offering?
Is it a subscription model?
Yes. It will be I mean, this is when you look into this, you support the entire radiology value chain, including the archiving, reading and reporting. And there, there is our already established business model, which are typically reading volume based, and we will go exactly into that model and will then create recurring revenue streams out of this.
And maybe fitting to that from Veronika de Beijer of Goldman. How can you discuss the revenue potential you see for the various sorry, can you discuss the revenue potential you see for the various software solutions you have been launching over the last 1 to 2 years, I. E, my exam companion ARRAD, etcetera? How large are revenues from these today? And where do you see them in 5 years' time from now?
Okay. I mean, right now, yes, when you look into our overall business volume of north of €8,000,000,000 and the absolute volume of this contribution is yet not that large. And we are still in the investing phase. However, we have seen significant uptake in the last year, and we are full on track with our business plan, yes, with growth rates north of 60% that we continue to have as well in the upcoming years. And yes, we expect additional recurring revenue in a significant and worse to report level as well in a couple of years from now.
But be sure we are full in line with what we plan in the business and appreciate right now, maybe a little bit as well tailwind from the overall COVID situation because I believe that will push us a little bit forward in the adaption speed of digitalization overall.
I have a question from Michael Jungling, maybe looking even a bit further into the future. So how long before AI decision making is possible for reading images without any radiologists required?
Yes. I mean, there are, of course, a lot of constraints. On the one hand, I'm not even sure whether this is the right target depending on how you look at it, yes? Yes? First of all, you need radiologists as well because they put everything into a context that a machine alone can't do.
That's one thing. Secondly, we brought this up to put physicians and radiologists into the situation that they can actually cope with the steadily increasing volumes, while at the same time, the number of physicians is more or less stable. So there is when it gets to artificial intelligence driven decision support and reading, there is no way around from my point of view. In order to address this topic, midterm, AI technologies will have to be used in order to address this. Will that make the radiology looking at it completely obsolete.
Maybe in some cases, we it will be in a way that everything which looks normal is kind of being processed automatically. And maybe for legal reasons, still there will be a certain sign off procedure necessary. But the focus of the radiologists will go to the complex cases, to the cases that really deserves a very high attention. In that respect, I can imagine that reading every individual study, once you have as well the clinical evidence that you can do it at least as good as a well trained expert or a good expert maybe feasible. But I don't foresee this in the next 4 to 5 years to come.
Okay.
So time is running a bit tight. We have a lot of questions still. Let's see what we can squeeze in. So there's unnamed investor who would like to know what do you see as a differentiator between the FreeMax and the Philips Helium free machine?
That's a good one. I mean, it's smaller. It's more compact. It has the larger bore. It's much lighter, yes?
So the entire overall system design isn't comparable on the one hand. And then it only needs 0.7 liters of helium, which is close to nothing, yes, instead of 7. So as well from that point of view, it is ahead. But I believe the helium topic is an interesting one because you don't need a quench type. That can be quite an intense investment, yes, in the hospital.
But that's only the one aspect. You need to look into the overall system concept. And then you see that in all those aspects, actually, the MAX 3 is outperforming our competitor from Philips.
Okay. So we still have a lot of questions. I have to pick whatever makes sense. So I'll take a critical one, yes, at the end. How can you be sure that Magneton will not cannibalize your existing market with customers opting to trade down for good enough functionality, particularly with government health care budgets under pressure coming from Vasi this question?
Yes.
I don't think that this is going to happen because on the one hand, it is a great system. And you can do really 90% of the routine work easily. However, when you look into MR and the use of MR, you have as well a lot of complex and future oriented procedures that cannot be performed with a free max. Yes? So when it gets to complex cardiac procedures, when it gets to spectroscopy related topics, so a lot of these things that we will see more and more happening in the future, there, higher field strengths certainly will be available.
That will be necessary. That's the one element of it. And the second one is that we really when you look into the space and the customer groups that we are addressing, we really seek to put MR in, which helps as well to limit a cannibalization effect that there will be a few customers that may decide on I go with that instead of on higher invest because my use case is mainly routine and I don't do too sophisticated things. That may be the case, but it will be very limited. The opportunity space really to bring it in use spaces is significantly higher.
Great. So our time's up. Thanks a lot, Andre. That was very inspiring. And So I basically hand the word over now to our next presenter for today, this Deepak Nath representing our Lab Diagnostics business.
Hugo. Thank you, Mark. Appreciate it.
Hello, everybody. Good day. Glad that you're with us and looking forward to having a discussion here about the Diagnostics business. As we previously communicated, we see in terms of healthcare trends shaping the diagnostics market, a real buy in where we see more and more testing of the core laboratory occurring in centralized settings, larger hospitals and reference labs where the real pain points need to be addressed are productivity, staff shortages and really space efficiency. And on the other, you have more and more testing taking place near patient need, where the real success factors are on form factor and menu and holistic data management and really time to inform result.
And we see this trend really being accelerated during the time of COVID. And we believe we've got a portfolio now that's well adapted to this fabrication, particularly in the Core Lab side, which is the bulk of our diagnostic business today. So I want to take you through where we are today, the progress we've made relative to it and the outlook for particularly for 2021. As we've shared during our earnings call, we are approaching our business in 3 kind of parts, our upgrading journey. The first is really to deliver on the promise of Atellica.
We've entitled the grow phase, so the grow part. The second is the Elevate or the Expand Phase, delivering our instruments and our assay roadmap to position ourselves for the future. And the third part really is elevate and to bring more and more digital capability into the laboratory environment. So this is the journey that we're on, lets me focus now on the first part of it really to deliver on the promise of Atelica. Fiscal 2020 was a challenging year for us.
By far, the biggest factor in terms of our performance was COVID. Core Lab business is quite heavy on routine care and as routine care related testing declined substantially in markets around the world as the pandemic raised across the globe, we were pretty severely impacted by that. Equally, given our portfolio, a really small molecular position, we weren't able to offset those declines through uptake of COVID related testing, in particular where the real need in the market over the last several months has been around detection technologies, primarily PCR based and other point of care technologies. Our portfolio really, as I mentioned, skewed towards the core laboratory side. So we weren't able to offset these declines with COVID related tests.
And at the same time, we continue to invest in service and in maturing the Telica platform. And there we've made great progress that sets us up well for 2021. So looking now at where we are and how we look towards 2021, the first we see routine care testing recovering to near but not quite to 2019 levels as the world figures out how to live with COVID, particularly delivering healthcare in the context of also caring for COVID patients, we see that uptick happening and we see that evidence in terms of our utilization across our installed base in markets around the world. So thus, 1st and foremost, anchors our recovery from our 2020 position. 2nd, on the back of this tremendous progress we've made on maturing the Telica platform, we expect to drive a significant bottom line improvement.
And here just a few stats around it. In terms of our ability to stabilize the Telekonet platform, we've improved unscheduled service visits rates, which is a metric that we use to gauge stability by nearly 50% since the launch of the platform. Our ability to install and implement projects has also improved dramatically. We've made improved roughly 2 thirds, about 65% in terms of our cycle times to implement projects across the world. Our ability to resolve issues also has been very significantly improved, where we see about a 60% improvement in resolution time and also as high single digit improvement in our ability to resolve issues without escalation.
So against many measures, we're seeing a maturation of the platform, which is very encouraging for us. We've also improved our factory utilization as a Teligent gains traction in the market in terms of both the number of installations, but more importantly as we drive utilization of our installed base in our new customers. In previous forums, we have talked about our leadership team. We have evolved our organizational model and structure in order to drive the level of focus in the diagnostics business and also to have the Caliber lead this business. And there I'm pleased to report great progress we've made despite the pandemic, Particularly on the commercial side, we have a new leader who's done a phenomenal job in the North American market.
And more recently, we've added a senior leader in EMEA and also in one of our largest clusters in the world in Southern Europe. So tremendous, tremendous progress there and these folks have come in and hit the ground running and also significant improvements in terms of strengthening our leadership team on the R and D side as well as in supply chain. So altogether, roughly half of our top twenty team is new. And we have previously talked about the need to turn around commercial performance in the North American, the critically important North American market and there too about 60% of our organization there is brand new. And I'm very, very pleased with the traction that we've gotten there.
And just to give you one highlight, in the last fiscal year, 3 out of the 4 quarters that team delivered to our expectations with the one miss being where COVID impacted our North American business very substantially. So good progress and we feel on the back of Atelica maturation, the restoration of routine care testing, the strong leadership team we have in place that we expect to hit both of our top line and also our margin recovery targets. Turning now to COVID, as I mentioned, our business is really skewed towards the core laboratory and here we've made some great progress in terms of how we reacted to this crisis on antibody testing. Of course, we didn't quite see the type of utilization there in the early stages of the pandemic as the world expected to. And but here we were able to deliver very high quality tests that do set the standard in terms of performance and sensitivity and specificity.
And also an important design choice that we made around the target. So we detect antibodies that actually bind to the S1RBD on the spike protein, which we have now demonstrated actually neutralizes this virus and in fact we have that claim in countries that recognize the CE Mark and we filed for that in the United States. We've also set the pace there in terms of having quantitative information. So our IgG antibody test is not just a qualitative test, but also is able to report out the relative level of antibody, which we believe will be quite important as part of the vaccine rollout. There, we have an assay that detects not just binding antibodies, but actually neutralizing antibodies.
As I mentioned, we have that claim outside the United States and we filed for this claim in the United States. Also in the United States market, we have at this point the only semi quantitative antibody tests related to COVID as well. So there, although we were a few weeks behind the market leaders in terms of bringing forward our antibody tests, what we gave up in time, we've more than made up for in terms of the quality of the tests, the judicious choice we've made around the target and bringing forward solutions that we believe will have resonance in the post vaccine stage of the pandemic. On the molecular side, as I mentioned, we have a modest business there, but we were able to get a PCR based SARS CoV-two test up and running and production ramped up to nearly 5 times our pre pandemic levels of capacity in record time. Again, modest role there, but an important role in selected markets around the world, for example, India.
And then on the point of care side, as we've announced during our earnings, we see potential upside on the lateral flow antigen test. We are partnered with a company in China who manufactured these tests for us and we've already begun to ship in key markets to fulfill the demand that we see around the world. In addition to this, we're actually developing a lab based antigen test that we expect to bring forward around the Q2 fiscal Q2. And here, we aren't yet assure of the clinical utility of this. We believe at some point there will be a need for high throughput laboratory based antigen tests that are able to deliver results in a pretty short period of time.
And we're developing this test under the U. S. BARDA funded initiative and also scaling up our manufacturing under those under that support. So looking forward to that, like I said, we see potential upside in that as we look to Q2. Now, to the next slide.
As we look at the expanded elevate parts of our roadmap, what we aim to do is lead in workflow, building on a leadership position that we already have in terms of our strength in automation, our strength in bringing forward large complex projects in settings around the world and to achieve clinical excellence by improving the quality of our assays and enriching our menu, particularly making targeted investments to differentiate ourselves in cardiac, in urology and in metabolic diseases. On the instrument side, we are bringing forward new innovations on Atellica to bring new productivity solutions such as particular modules around decapping, sample quality check and the like, but importantly to bring forward a mid volume analyzer to the market by within the next 12 months or so. And then finally, on the further building on our workflow leadership, we do aim to lead the way in bringing digital offerings to the lab, whether it's preventing doing better preventive maintenance at an analyzer level or optimizing a laboratory's operations across modalities or to help with clinical decision support algorithms on the back of our platform, the Ateleka data manager plan. So with that, I'll pause there and turn it back over to Mark, because I'm sure there are questions, which I'm keen to get into.
Indeed. Thank you, Deepak for passing over. So we have quite a few So he would like to know, of your diagnostic installed base, what percentage of your existing installed base would you characterize as low mid volume or have integrated immunoassay clinical chemistry analyzers?
It's about 35%, 35% to 40% depending on the region of the world, Scott, in terms of how that maps out in terms of number of instruments. Obviously, from a volume standpoint in terms of the reagents that flow through that, it's a far smaller number. But in terms of the number of instruments, it's about between 35% 40%.
Okay.
Then image is a bit blurred, I think. From Julien Dumoulin, there's a question. Is the competitive landscape for lower throughput labs different from centralized labs? And are you offering a wider menu or a better yield versus competitors in that setting?
Yes, Juliet, the landscape isn't particularly different, although each of our competitors have our strength in particular market segments versus others. But in generally, you'll find the same players present across all the different segments. So the way to win here is to offer a scalable module platform, particularly as more and more testing is taking place, as I said, in larger hospitals and reference labs, what's important is these labs run a hub and spoke system and it's important for us to have an offering that scales from the spoke laboratories all the way up to the large laboratory. So, it's offering the same reagents, same reagent packs across these different settings. So importantly to derive efficiencies from that uniformity, but also importantly results concordance.
So the same results regardless of the setting in which the tests are performed.
Okay. So there's a bit broader question from Patrick Wood from Merrill Lynch or Bank of America, I'm sorry, Patrick. Do you still feel the business is competitive overall without a molecular offering given all your larger peers are more integrated? And would you ever consider entering the multiplexing space or other more niche areas?
Yes, Patrick, it's a great question. So we do believe that we can win in the core laboratory without having molecular. So that's the top line answer to your question. Right now, the core lab is a distinct area and we have with Atellica the platform that we need to win, particularly in a space that is consolidating. Molecular, of course, is a significant segment on its own.
I personally have a lot of experience in that having run that business at a competitor. And there we obviously are monitoring that space and the key there is finding a way to win in that space. And we believe that's a distinct opportunity and we have our assessment in terms of what we can bring to the party there. But at the end of the day, it's about finding ways to create value and the patience is the key in order to profitably and actually enter that space in a way that we can win.
Okay. Now I have a we're going to combine 2 questions. So he's a non named person. And then I'll start with Veronika, the buyer from Goldman. She would like to know when would you expect the Diagnostics business to return to double digit adjusted EBIT margins?
And what would you need to see to achieve these levels? Is it a question of volumes, telica costs or something else? And then basically, there is an anonymous person asking, is your target a mid teens diagnostics margin by 2024 still valid? And maybe you can take these 2 together.
Absolutely. Let me address the second one, which is also related to, I guess, the question that Veronica asks. So we do see on the top line delivering to the commitments that we made last year. On the bottom line, we're about 12 months beyond where we had indicated in terms of getting to mid teens margin level. And that's largely on the back of the impact that COVID on our business.
In terms of our how we're going to get there and what I'd be looking for, 1st is really to continue to win the pace of business with the Teleka that we're seeing. We're seeing a win rate above 35% and that's largely held over the last 2 years. So we're looking to continue to win at those levels. Secondly, the maturation of the platform is an important vector for us to be able to deliver to the margin expectations. And here I cited some facts around what gives us confidence that we're going to get there.
It's about really minimizing or reducing the number of unscheduled visits to customers. And as I mentioned, roughly half relative to when we launched, we've got another little bit to go before we feel comfortable with the levels we would want to be at. Secondly, in terms of our ability to service and implement these projects, there's tremendous improvement that we've made there. As I said, 2 thirds reduction in terms of the cycle times to implement. And just maintaining those levels will carry us forward.
I mean, just a little bit of an elaboration around that. About 80% of the analyzers we have out there are live today. At this point last year, it's a little bit north of half of the instruments that we had shipped were live and 2 years ago only about 14% of them were. So just further evidence that we're getting better and better and more and more mature in terms of implementing projects and also in an efficient way keeping our instruments up and running. So these are good forward indicators of what's to expect in terms of how we expect to deliver on the margin expectations.
Okay. So now I'll take
And just one other point actually, Mark. Just one quick point there. I do want to mention on commercial performance. Veronika, you had asked a question at a session that I was at last year. We had talked about making improvements and strengthening our leadership team and really getting our commercial performance to competitive standards.
We also noted at the time that it will take a little bit of time for people to come on board and kind of start to make their mark. And here I'm very, very pleased with, A, the caliber of people we've been able to attract, really leaders in the industry and impact they've been able to make in our company over the since they've joined. Of course, COVID has cast a shadow on the overall performance, but I look at the fundamentals in terms of what we've been able to achieve and the best practices we've been already put in place at the outlook, I'm very, very confident about.
Cool. Thanks. So Lisa Kly from Bernstein would like to know what is the potential use of AI in in vitro diagnostics?
Sure. A couple levels of this, Lisa. First, at an analyzer level, Atellica already has significant AI capability built into it and it's in several fronts. 1, we talk a lot about being able to integrate stat testing with kind of routine testing on a telecat analyzer. The scheduling algorithm we use underneath to be able to do that has AI built into it.
We have capabilities around doing sample quality checks and looking at the quality of essentially the tubes that we have in the analyzer. There's a very sophisticated AI based algorithm that basically looks at the tubes and the quality of the sample contained within those tubes, tremendous amount into that, so basically tube characterization. And there is other things in terms of the vision system we have in the drawers that house the samples where the samples are loaded has AI capabilities built into it. These are 3 concrete examples. In addition, Intellica was built with Internet of Things or IoT capability that gives information in real time about something like, I think about 90 different parameters, operational parameters that these systems track and are able to feed back that allows us to get a real time view of the performance of an analyzer and actually start to get into predictions of failure modes and also needed preventive maintenance.
And there's quite a bit of AI involved in basically crunching through those data streams. So these are things that we already are doing with Atellica at an analyzer level. The next up is what we can do in a laboratory. I talked about us being leaders in total lab automation together with our automation partner in Peko. And there, the ability to streamline the operations of a laboratory largely comes down to scheduling, how you plan your reagent loading, how you plan your workflow and so forth.
There's quite a bit of AI involved in scheduling kind of an operational level or lab operational level beyond just an analyzer level. The third, I mentioned clinical decision support. Here, the Atellica Data Manager, which is a platform that we have, allows us to look at the data coming out of these test results and help to combine them in ways that take these data and turn them into information that can help in clinical decision support. There are multiple examples of that. One area that we're investing in the context of COVID, as we've all heard about immune systems running amok as part of the body's response to a virus.
There's quite a bit of work we're doing together with our collaborators in integrating lab values from, I think, about 6 to 10 different parameters, putting those together, coupling them with other points to the electronic health record to give physicians, particularly critical care physicians, a prognostic index of how a particular patient might fare based on their lab values in terms of severity of disease. So that's one concrete example. There are other ones like it that utilize AI. And by the way, AI is the tool that we use to bring this index forward to critical care physicians.
Okay, great. Now a question from Falko Friedrichs from Deutsche Bank. He would like to know when do you expect approval of the new ELF test for NASH in the U. S. And in Europe?
And on which of your analyzer systems can this test be performed?
Yes, we expect that in the coming months, Falco, and it's going to be available on Centaur and Atellica initially, so the largest portion of our installed base.
There is a question then from Daniel Wendler from Commerzbank. When you think of Atellica placements in 2021, will it be more new customers or more converting customers?
Truly, it's a mix, Daniel, of the 2. I cited the greater than 35% win rate. And when we go head to head against our primary competitors here, we have demonstrated that we can win business and one of the things we look at is the quality of the deals we look at and we've got some great thresholds in place to ensure that what we're looking at and what we want are the highest quality deals. And there, I'm pleased with the traction we've gotten so far. We do need to work on our retention rate.
We need to improve that as part of the commercial execution or commercial excellence programs that we have in place. So we're going to be judicious about where we take this in terms of converting our existing customers versus using it to win new business. So it's a deal by deal kind of calculus, Daniel, but not to be too glib about it, but it's going to be important for us to both retain business with the Telica or contract extensions as appropriate and also to win new business with the Telica and maintaining the pretty high competitive win rate that we're going to build established over the last couple of years.
Okay. I have a question from Michael Jungling from Morgan Stanley. Can you talk about how damaging it has been in your diagnostics growth rate not to have middle market Atellica solution? And when can we expect this void to be filled?
Yes. So Michael, it's I would say, it's been challenging in certain markets to not have a low mid volume offering as part of our Teleka solutions. So there's no question that we have not been as competitive in certain situations for not having had this as we could have. However, it's not all gloom and doom. We do have a bridging solution today and the way we go to contract is we offer primarily with our DIMENSIONE XL, an offering to for the low mid volume space with technology upgrade clauses that allow us to bring in the low mid volume analyzer when it's ready to be launched.
So it's not that we're completely giving up ground in market segments because we do have a solution and an improvement solution now it's just not on the Atellica platform. The other way in which we have experienced a disadvantage is in certain labs that would be more economically served with the integrated analyzer. In some situations, we are investing with our SCI configuration of Atellica, which is not necessarily the most favorable economics. Again, we are limiting situations where we can do that, but that's another area of disadvantage. So part of what I talk about in terms of margin expansion is being able to profitably serve that segment with the low mid volume.
Okay. And in terms of timeframe, I'm sorry, I didn't get to that part of it, is obviously there's differences between when it can hit the market and countries that recognize CE Mark versus the FDA. But as I indicated, it's about 12 months is where we expect to get into a controlled release.
Great. So two last questions. First one from Veronika relating still to the Atellica subject. Can you give an update on the size of your Atellica installed base as of today?
Sure. Today, Veronika, we're at about I'm just looking at my notes right here. We're about 4,300 analyzers in and about like I said, 80% of those are live. Veronica also, as I indicated last year and as we've been consistent in our messaging, we have taken away the number of analyzers as a performance indicator. As we've acknowledged it sometimes drove the wrong behavior in our company.
So we've taken that away as obviously as a measure of the traction that we're getting in there. We're very pleased with the continued uptake of ATELIC in the market. In some of the largest laboratories around the world, there have been press releases around some of them. We could not be more pleased with the uptake of Metallica and the Resonance it's finding in those segments of the market.
Okay, great. Then maybe let's wrap it up with a question from Scott Bardo. Does the recent use of highly effective COVID-nineteen vaccines reduce the opportunity for serology testing alongside inoculation?
Scott, it's a good question. There's a lot of unknowns here and it's hard to call exactly what the clinical utility of serology testing is likely to be. But as I indicated earlier, with vaccines, vaccines are likely to be approved whatever the mechanism is EUA or whatever other mechanism around the world with about a couple of months worth of follow-up data. To put that into perspective, most vaccines typically have multiple years' worth of follow-up data before they're ever approved. So we're looking into a situation we're going to have vaccines with fairly limited data around the duration of efficacy or duration of protection that a vaccine converse.
So that's one point. Secondly, obviously, we've all heard encouraging news about the effectiveness of vaccines. And as more and more studies come to light about double clicking on that and understanding the effectiveness of different patient populations, the elderly, the young and so forth, we will get more information about relative effectiveness in different patient population types. So the way to counter these unknowns and these uncertainties is to incorporate testing as part of the rollout, either in the initial phases to figure out who should get the vaccine first, I. E, if you already have antibodies and perhaps you're deprioritized relative to ones who don't have antibodies, for example.
2nd, most vaccines that are coming out, at least the 2 announced are multiple doses, whether they're 3 weeks or 4 weeks apart or some other interval of time, you could potentially see a need for serology testing in between doses. And then the 3rd phase really past the post vaccination to understand how long the durability lasts of the vaccine before see the serology testing could be used. And here as I said, it's not just any serology test, you've got to have a quantitative test to be able to assess the level of antibodies and we have that. Like I said, we're the only ones in the United States to have that and we've had this outside the United States for some time. 2nd, it's not just any antibodies, but you've got to be able to detect antibodies that neutralize the virus versus those that specifically bind to it.
And there you've got to detect the antibodies that bind to the spike protein and in particular to the S1 RBD off of the spike protein. And we've designed our antibody tests to specifically detect those antibodies. So that gives us a differentiated position to be able to offer this as part of a post vaccine rollout. And 3rd, scale is going to be important, Scott. You're going to have to roll the silo's entire population levels.
We've got one of the largest installed bases in the world. We are the number one installed base in the United States. So we believe the combination of the quality of the tests we have in terms of sensitivity and specificity, what it is that we're actually detecting, the quantitative claim and the installed base. We feel pretty good that should the guidelines call for serology testing as opposed to a vaccine will last that we're well positioned to capitalize on that opportunity.
Great. That, I guess, is a nice ending word, capitalize on opportunities. So thanks a lot, Deepak, across the Atlantic to you taking part. And I would say now I hand the word over to Michel Taylor next. Bye,
Deepak. Thank you, Marc. Thank you, Marc, and welcome to the Advanced Therapy section of our call today. For the next 10 minutes, I will more or less apply the same kind of agenda that my 2 predecessors, meaning summarizing our strategy to deliver our growth ambition. Then highlight a few important moments of the last year and give you a perspective on a few exciting coming news.
Before that, I would like to remind a little bit the context in which we are operating. Minimal invasive procedures have completely revolutionized the way therapies are delivered. Since their 1st coronary intervention in the late '70s, this became a standard of care for many clinical field, but not all, because for some complex procedures, more advanced technology are required. At Advanced Therapy, we want to push the limit of what is feasible with minimally invasive approaches. And we will do that by continually advanced image guidance, so that the physician can do tomorrow what he struggled to do today or what he cannot even imagine feasible today.
So let's go to how do we get there. Last year in our London meeting, we discussed the 3 steps to get there. The first one is to capitalize on our historical core imaging expertise, integrating the best of every imaging modality to better understand the disease, to better guide the procedure and for faster and more efficient treatment. That is what we did this year with the first release of our next imaging platform, which Paul Artez Icono, which combine both a high degree of clinical specialization, while at the same time provide high versatility for interdisciplinary usage. The second aspect to get there is to expand endovascular robotics.
Robotics has radically changed how abdominal and pelvic surgery are done, and it will be also the case in endovascular domain, especially when it is applied for complex cardiac or neurovascular procedures. Generally speaking, robotics expands physician capabilities, while still preserving their judgment experts. And it can also standardize certain routine procedures. And by doing that, it creates new level of precision and safety. And the last one, but not least, is that it can increase access to care as it potentially enable remote treatments, which is a very exciting opportunity for us.
The 3rd step to get there is to leverage digitalization for the benefits of therapy delivery. That will be a key enabler for the other 2 and help to combine what we talked last year about combining the Hygiene enhancements and the Enhanced enhancements. Clinical decision support will enhance delivery of better care and will help to better plan as well as helping to drive to the right decision on the fly during the procedure itself. The 3 steps combined will allow us to deliver on our growth ambition, which is to grow higher than 5% in terms of revenue growth in the direction of high single digits in the midterm. By doing that, we will significant market share.
We will also capitalize on our service growth, which will grow proportionally, and we will expand our leadership position in the space. So let me go with you through two examples of what has concentrated our attention this year. We have delivered in February, March, the first commercial system of our Artisai Kona platform family, And we get very positive feedback from the market, from our customers. And you can see on the left a few images that explain what gets our customers excited about. It's an unprecedented optimized device visualization.
You can see on the left on the small animation, the delivery of a hard tick valve, and you can see how the strut of the stent hosting the valve is clearly visible with that 2 d image. It is also true on 3 d imaging that you can see in the middle picture. You can see here a 3 d roadmap of a liver. And we have here highlighted 2 tumor that's where you can very precisely see the vascularization of that tumor, enabling physician to consider how to best address and access the tumor for embolization or ablation, for example. As a consequence of that, we have seen the ramp up of our first 100 units 40% faster than the previous generation that we launched almost a decade ago.
So very first, very exciting first response by the market regarding the ICONO family. And this is just a start. We have released the first two members of that family, and there will be a continuous release of upgrading a new version of that platform in the next couple of years. The following highlight of the year is around, of course, the integration of the Coramvius acquisition. As you can imagine, launching a new such a new technology in the middle of a pandemic is not a straightforward exercise.
But we progress very swiftly on the integration and on the expansion of our value proposition on that technology. We have continued to release several important clinical evidence pieces around reduction of radiation exposure for patients. This is one of the first time that we show a direct benefit for patients to get treated with some robotic assistance. We have also trained a lot of physicians through or shared the value proposition of that technology to many physicians through different kind of virtual events like webcast. During the time of the pandemic, we have also highlighted and started hear from our customer that there might be a benefit also in terms of physical dispensing between patient and physician, thanks to the interface with the robot.
And in the meanwhile, we have also pioneered new pathway. And here you have 2 example. The first transcontinental simulation robotic coronary intervention between Boston and San Francisco. And we did that over different vehicles over 5 gs network, over fiber connection and through public Internet. And we were able to successfully run 5 different simulation, where all the information was successfully transferred by those vehicles.
Another domain that we have continued to explore is the first application of robotic assistance in the brain. And you can see here on the bottom, Doctor. Vitor Pereira performing some of the first robotic assistant aneurysms treatment by inserting coil or flow diverter in the brand and that has created a lot of excitement in that space. So our commitment to that space remain intact despite the challenge that has been observed in the last 9 months because of the pandemic. Our strategic vision is reconfirmed regarding that the benefit of combining imaging and robotic assistance.
And our business case remain in change in the 5 to 10 years horizon. We continue to actively work on the development of further integration between the robot and the imaging system. And I would like to share with you and conclude as the last slide, a vision that we have, how the combination of imaging and robotic systems will transform how care is delivered. And let's take an example of a devastating disease, which is stroke. On the upper left side, you have a sagittal section the head.
And you can see highlighted by the orange circle, an oblique an occluded vessel. It's a tiny lesion that has a devastating consequence on the population affected by such a disease. You have €16,000,000 of stroke every year in the world, generating just in Europe over €45,000,000,000 in healthcare cost and disabling cost. And this is here to stay for quite some time. And the pity is that there is a treatment that exists, which is growing very fast, 20% procedure growth.
That treatment is called a tranectomy. You basically physically remove the clot from the brain. This is a pretty skilled procedures to run, but it is now well under control and fully documented from a clinical efficacy standpoint. And the PTE that only 10% of patients eligible for that treatment receive effectively the treatment. And why are they not more than 10%?
It's basically because the time to get access to expertise is running very fast in such a disease. We know that neurovascular surgeons are basically saying that time is brain in that example, and we have a very definitive window for removing that clot. So the time to get access to ANXPRS today, just allow for 10% of the patient to get the treatment. And we have a vision there that bringing the treatment to the patient where he is by remote delivery will bring much more patients in the funnel and allow much more to receive that treatment. And this is a long term journey and it has started already a year ago with the first in human remote clinical case done in India.
That was a cardiac case, but it was done with 30 kilometers of distance between the physician and the patient. I mentioned just earlier that we know now technologically how to run transcontinental procedures, gather the robot and different kind of connection. I mentioned also earlier that we are starting to also develop clinical evidence about robotic assisted neuro procedures. And today, we continue to develop the next generation robots integrated with the imaging system. In 2022, we will start large scale remote robotic clinical trials, starting in cardiac first and then expanding in neurovascular later.
And we believe that in that context, in the next 5 years, stroke will be radically advanced in the way it is treated. So this is a very exciting opportunity. That's one of the reason why we were excited to buy the to integrate the Coronus technology to our platform. We are pretty sure that it will radically change the way stroke is treated. So as a conclusion, I would say that our growth ambition for AT is confirmed, for advanced therapy is confirmed, with a robust high single digit growth in terms of revenue in the midterm and again in market share as well.
I think I am already over in terms of time. So I will pause there and be happy to take any question that you may have.
Okay. Thanks, Michel. Very interesting presentation. So now I have the first question here from Patrick Wood. He would like to know, is ablative radiotherapy a risk to chronicous growth on the vascular side?
Or are there complementary elements between the two approaches? Could you partner here with your soon to be new colleagues at Varian?
Yes. So the here, first of all, on the Corandus side, we see the main application in the complex cardiac, but not in the arrhythmia side for more complex coronary procedures and in neurovascular procedures. So here, what could be a very exciting application of radiation therapy is more towards the erythema side, which will need anyhow a few years of development. So more complementarity than competition there.
Okay. Now we have Julien Dunois. Do you believe that robotic surgery in cardiovascular procedures could prove as disruptive as it has proved in abdominal pelvic surgery and utilized in the vast majority of surgeries by 2025 to 'thirty. And then who are the existing upcoming competitors for Corindus?
Yes. So we are still at the beginning of the journey there. But yes, I believe that for mid complexity and high complexity procedures, the robotic assistance will provide significant advantage. When you talk with surgeons or with cardiologists or with neuro physicians who are doing those procedures behind the robot, they more or less unanimously say, I feel and I know that I'm doing a better job when I am behind the robot. It's increased their precision, it's increased their concentration.
It's allowed to be much more comfortable seated for many hours. And by the way, for that example of Corandis, it's also have a significant decrease in term of radiation trends and then to expand your practice exactly the same way as it has been done in surgical robotic assistance back 10 years ago. And down the road, the same kind of advantage will be offset, more precision, more reliable procedures, the opening for possibility to do some semi automated steps And what is also very exciting on the top is the potential increased access to care for patients, thanks to enabling remote treatments. There was a second question regarding competitors. I'm sure that you will see soon some announcement and public release on people entering that space.
Corindus was clearly a pioneer there and we have we are very pleased to have the first robots approved in Europe, the first robot approved for in the U. S. For cardiovascular application. But the it would be logical to see e commerce arriving in the next 5 years.
Okay, good. So now I have a question for Scott Bardo, Berenberg. I'd like to know, is it practical to bring MRI into advanced therapies? If so, is this something for the very long term?
Well, I think that question came from the exciting news that Andre presented. The FreeMax is clearly a machine that start to be compatible with the environment in a treatment room. So, yeah, this is creating a lot of ideas and excitement. So when I mentioned that one of the advantage or what we need to be able to do is to really leverage the best of every imaging for driving the most complex procedures in advanced therapy. And I'm pretty sure at some point MRI, especially the 3 max, we have a role to play in that context.
Okay. Then I have a question from Mark Boody. Do you have a view on Cyber Heart, a very noninvasive approach to use radiation therapy to ablate trill filibration?
Yes. So that's back to the first question that I got is that this is still very in its infancy. There have been a few scientific communication highlighting the potential benefit or the potential application of radiotherapy in that space. And that's for sure an exciting opportunity. Arrhythmias are, especially the ventricle ones, are disease that have relatively poor clinical outcome in term of treatment option today.
And for those patients, they are still in need for having a solution. So it's possible that radiotherapy can have a place there. And I'm sure our future colleagues will look at that.
Okay. Now we have a question from Daniel Wendorff on the Artisai Kona. He'd like to know what was, from your point of view, driving the quick uptake of the iKONO where you presented in the presentation. Does the Artis Icono help you to cross other parts of your product portfolio?
Yes. So the I think Artis Icono is clearly a flagship product that bring image quality, workflow optimization, both clinical differentiation as well as the versatility at a level that create a lot of opportunity. So I think that was one of the main driver of the fast ramp up. We have, as I showed you, we have a very positive return in terms of both 2 d and 3 d image quality. And the hardware is also, David, I will not go in a lot of technical detail, but we can run 3 d roadmap much faster than we could do in the past.
We can reach all the body lengths with both planes. We can have the 2 planes working together. So a lot of efficiency gain in the cath lab if you adopt Icono. So I'm very pleased to see what we have seen in the first 6 to 9 months since he is commercially available.
Okay. We have a follow-up from Julien Dunois here. What is the current installed base of Corindus robots? And what is the catalog price?
Yes. So the installed base is still in its infancy. We are talking about something which is just starting. We have to be clear, we have sold less than initially expected for 2020 in the context of the pandemic. And we are now ready to catch up in 2021.
So far, it's not yet significant to the overall Advant Therapy top line revenue, but it will in the next 2 to 3 years contribute significantly to the top line growth of Advant Therapy. The catalog price is something which is highly dependent on the business model and the regions and the country and so on. So we are hesitant to communicate on the price itself. But I can say that it's much less expensive than other type of robots used in surgery, much less. And that is not really a hurdle for adoption in term of integrating the cost of that in the overall environment.
The cost per procedures is limited to the cost of a cassette, which is a fraction of of the DRG reimbursement of the given procedures. So this is something that economically has a relatively strong
value. Great.
Now I have a question from Veronika Dubajova from Goldman's. Have your thoughts on being involved in medical devices as opposed to just equipment changed at all?
Yes. See, it's not on the short term horizon, neither on the midterm, by the way. We are willing to tap into adjacencies and we are willing to take more benefit, more share of the fast growing procedure that we are serving with our equipment. But that can be done in multiple way. The Corundus acquisition with its disposable component, the cassettes is one way.
I mentioned that a lot of digital tool will enter the treatment room in order to better guide, better provide on the fly decision support. And that's those kind of tools open the possibility of a subscription based type of revenue stream or a paper use type of business model. And that is something that will be envisioned for us in order to take benefit of those fast growing procedures.
Okay. So I think we have 2 more questions left, both from participants who have not wanted to be named. So what type of functionality between the Corepath GRX and Icono will be available connecting the eyes and hands as you described?
Okay. So on the Icono side, those imaging platform historically were more or less camera providing image and they are becoming more and more GPS and much more advanced type of support. So that will continue. On the parallel path, the robot will continue also to integrate more and more semi automated small step procedures that will be also fed by the imaging that is provided by the imaging system. On the hardware side, there will be more and more common user interface, combining displays, integrating images from one to the cockpit of the others.
So you will it will be a roadmap and it will be a journey of multi years before you get the full integration of both. But we can see a potential high level of collaboration between the imaging system and the robots in the next 5 years.
Okay. So actually, Veronika took the chance to have the last word here. So this is the last question for today. Are there opportunities for collaboration between the various parts of Varian Businesses and your AT portfolio? Or I don't know if it's a question or
it's a kind of statement.
It could also be there are opportunities. Can you share some insights into the areas that you find as most exciting in the midterm? How can you leverage Varian to broaden the scope of your AT business? Yes.
It's a little bit early to talk about the strategy when the 2 company will be combined. But overall, it's of course a very exciting news for Advent Therapy, because Fion is a therapy company and it's now becoming in the future part of TEMENSENZINA and Advent therapy providing image guidance for many therapy delivery, you could easily see the complementarity of the 2 portfolio coming together. So we are extremely excited about that. I think there was question earlier on regarding application outside of cancer, which is probably on the long term. But within cancer, there are already a lot that we can do together.
VION has recently invested in interventional oncology, which is highly dependent on image guidance. This is a space where we see potential complementarity of Oprym coming further along. So it will be an exciting moment.
Okay. Great. Michel,
thanks for taking
part. And thanks
to Marc. Thank you, everyone, for your questions. Always a pleasure. Thank you.
Okay. So this kind of ends our exciting session for today. We've already received positive feedback. And of course, we'd be very happy to receive any kind of feedback, positive or negative suggestions, what we could do different in such a format in the future from you guys. That will be helpful and very much appreciated.
Other than that, I think there were still a few questions that were not answered, especially on the imaging session. We try and get these answered to you guys in some form in the next few days. So I hope you guys stay safe, and we'll speak to you in the next few weeks at latest than I suppose around Q1 reporting.