iRhythm (NasdaqGS:IRTC) 2025 Conference September 10, 2025 12:50 PM ET Company ParticipantsQuentin Blackford - CEOConference Call ParticipantsDavid Rescott - Senior AnalystDavid RescottCome on. Come on.Quentin BlackfordHe says you're on.David RescottCome on now. There we go. All right. Thanks, everyone, for joining us. I'm David Rescott, Senior Med Tech Analyst here at Baird. Excited to have Quentin Blackford, CEO of iRhythm, to join us for this fireside chat here. I wanted to start off asking a little bit ...

Core Viewpoint - Neko Health, a startup offering affordable full-body scans, has rapidly gained popularity and achieved a valuation of $1.7 billion, driven by its innovative approach to preventive healthcare and the backing of notable investors [4][5][18]. Group 1: Company Overview - Neko Health was founded by Daniel Ek, co-founder of Spotify, and Hjalmar Nilsonne, a Swedish entrepreneur, aiming to revolutionize the healthcare industry by focusing on prevention rather than treatment [6][26]. - The company offers a full-body scan service priced at £299 (approximately 2800 RMB), which has attracted significant consumer interest, with over 10,000 scans completed shortly after launch [3][31]. - Neko Health utilizes non-invasive scanning technologies, including 3D body scanning, infrared sensors, and AI analysis, to assess various health metrics [9][10]. Group 2: Market Position and Financials - Neko Health's valuation of $1.7 billion is notable given its limited physical presence, operating only two clinics in Stockholm and London, compared to competitors like Ezra, which has 18 clinics and a significantly lower valuation [4][20]. - The company reported a net income of 5.5 million SEK (approximately 500,000 EUR) in 2023, with operational costs reaching 106 million SEK (approximately 9.7 million EUR) [21]. - Following a price increase, the scanning fee rose to €250 in Sweden and £299 in London, reflecting the company's growth strategy and market demand [23]. Group 3: Future Plans and Expansion - Neko Health plans to expand into the U.S. market, capitalizing on the growing demand for preventive healthcare services [18][29]. - The company aims to increase its clinic locations in the UK and enhance its service offerings by integrating more health metrics and potentially varying pricing structures for different consumer segments [29]. Group 4: Industry Context and Challenges - The healthcare industry is increasingly focused on preventive measures, with Neko Health positioned as a leader in this shift, addressing the inefficiencies of traditional healthcare systems [26][27]. - Despite its success, Neko Health faces skepticism regarding the efficacy of full-body scans and regulatory scrutiny, particularly in light of past controversies in the health tech sector [35][36].