Listened to the conference call with IDX. They were clearly very...

Listened to the conference call with IDX. They were clearly very pleased with their progress in revenue growth, particularly organic growth, utilisation and cost cutting. Also involvement of doctors in decisions.

The takeover was not discussed except in answer to a question to point out that they had estimated the total cost of the takeover fight to be up 6.5 million. Clearly anticipating a major fight.....

Probably the most interesting comment was in response to a question re the future of AI in radiology.

They saw it as becoming important and a productivity tool to allow low end grunt work to be done, leaving radiologists more time for the skilled work. They perceive themselves as working more at the higher end. All fine. However they also saw the product as being many years away 5 to 10 was thrown out there. They were in touch with Siemens and GE and would know when anything was available. They mentioned Silicon Valley and Google as working on things like that and would eventually produce something. A fairly contemptuous remark about seeing no reason to invest in developing anything like that. Clearly must know about Enlitic, but did not feel it was of any interest. I found it a typical older doctor attitude (and with a youngish medical specialist daughter who gets very frustrated with low tech older doctors I think I can say that and hope it is not too offensive to any older doctors reading this ).

So an interesting hour - good little company and in many ways similar to CAJ in that it was performing substandard, but the new team are doing good things.

If CAJ ever get around to sending out a bidders statement to IDX shareholders I would expect massive resistance from the board, so unless they are busy talking around the other big shareholders, I wouldn’t expect the bid to go anywhere.