This is the module for overview for medical device industry for medical device market employment, and management. So, what's really exciting about doing this from the perspective of University Minnesota is that Minnesota really has been ground zero for a tremendous amount of medical device innovation. So, this is actually a photo of one of the first ever portable pacemakers developed at the University of Minnesota in combination with a young startup engineer by name of Earl Bakken then they went on to create a company known as Medtronic. Dr. Louie High was one of the pioneering cardiothoracic surgeons that worked with Earl Bakken and really lead the way to make these innovations possible. Great collaboration between academic and industry in spawning a whole new area of research. Minnesota is known as Medical Alley. As a result of that, this is an older picture but it actually shows a little bit of some of the places that are still in place. A lot of the North Central Laboratory said sort of evolve into a whole network of other firms, Medtronic being one of the major firms are in place. Duluth has a space in this as well. There's a medical park that's still actually many medical partners exists. Somewhere down here where you find the Mayo clinic as well, and now we also have Boston Scientific. That's a major player, a basic requiring guidance which is Minnesota created St. Jude Medical which then got created and then moved into one of the portfolio companies above it and then other areas. So, it's interesting to actually look at why these countries here. Well, you can argue that Minnesota has very strong ties to Scandinavia, but there actually is a lot of innovation that cross-fertilizes between Sweden and Norway in particular and the twin cities. France and Germany are major areas as well, and Japan's a major destination for medical device innovation as well. So, we think about this space about what can happen and all the touch points that go into medical device company. Many of these things we've talked about previously, talking about pharmaceuticals. But a lot of it really is a very virtuous cycle whether or not we first we'll start with just the patients having various needs. The physicians took device ideas and things that can make those patients lives better, the providers, excuse me, the insurance companies they can reimburse those things. So, that it's not just a cash-based price economy. Much more involved. The hospitals that can actually provide the facilities to do the much more advanced procedures. The sales and marketing cycles that actually need to go into these components as well. Venture capital basically receiving new innovation to make things go. Then ultimately making this thing go back again through the FDA for approval, and ultimately to distribute back to the patients. This concludes this opening module. Looking at the medical device space from here, we're going to be going into some of the more specific details of medical device innovation. It is different than pharmaceuticals and then it's a little bit more of a wild west type of space and we've got to think about it. While pharmaceuticals are metabolized in the body, putting something in the body and it stays there for a long time. In some cases the rest of your life making critical difference in your physiology is really just amazing development over the last century or so.