Chris Judd's Talk Ya Book Podcast · Chris Judd's Talk Ya Book

Hashan De Silva

·20 min·1 clip

Curve Beam AI expects bone-density software to turn every 100 HiRise devices into recurring revenue.

1. Chris Judd's Talk Ya Book Podcast examines Hashan De Silva's KPRX Opportunities Fund and its focus on Australian healthcare investments. 2. Chris Judd hosts Hashan De Silva, who describes his experience at Eli Lilly, Macquarie Bank, CLSA, and Cast Peak before founding KPRX. 3. De Silva argues that Australian healthcare companies can offer valuable intellectual property and attractive valuations because local capital is limited from idea stage through global expansion. 4. De Silva says Australia generates more healthcare patents per capita than any other country and ranks around fifth globally in absolute healthcare intellectual property. 5. KPRX is predominantly a private-market fund but can invest up to 30 percent in public equities. 6. De Silva presents Curve Beam AI, a medical-device company based in Melbourne and Pennsylvania, as the featured investment. 7. Curve Beam AI's HiRise uses FDA-approved and TGA-approved weight-bearing CT imaging for orthopedic applications. 8. De Silva says standing scans can reveal knee, hip, and foot pathology that may not appear when a patient is lying down. 9. HiRise allows orthopedic surgeons to image patients in their own clinics instead of sending them to a separate imaging center. 10. Curve Beam AI sells HiRise in the United States for approximately US$410,000, with direct-sale gross margins slightly above the 50% to 55% margin achieved through Stryker. 11. De Silva says Stryker's United States foot-and-ankle sales force includes approximately 550 employees, compared with three representatives when Curve Beam sold independently. 12. Stryker's Flex financing bundles can pair HiRise purchases with orthopedic consumables such as replacements, screws, and plates. 13. Curve Beam AI reported FY23 revenue of 12.5, while De Silva says purchase orders have continued to grow. 14. De Silva says a 500-patient publication found Curve Beam AI's pre-operative planning software as accurate as a surgeon's planning and faster to complete. 15. The planned bone mineral density module could help surgeons assess osteoporosis treatment and choose between cemented and non-cemented implants. 16. De Silva cites approximately US$140 average United States reimbursement for bone mineral density testing and describes a revenue-sharing model with doctors. 17. The interview uses a direct investment-research format, moving from KPRX's mandate to Curve Beam AI's technology, economics, products, and public-market performance. 18. Judd and De Silva maintain a conversational, analytical tone while discussing regulatory barriers, internet latency, surgeon adoption, and Stryker's sales ramp. 19. Best for healthcare investors studying medical devices and clinical software. 20. Less suited to listeners seeking personal stories or general podcast commentary.

As heard by us

A focused healthcare investing interview about Australia, valuation logic, and a founder-to-fund-manager arc.

Chris Judd keeps the focus on the shape of a new Australian healthcare fund, and the episode works because it moves cleanly between biography, mandate, and market logic.

Read the full review in PlayNext →

Why you'd press play

An Australian healthcare investing thesis from a med-school-to-fund-manager path.

Read the full recommendation in PlayNext →

Listen to the show on

Apple Podcasts Spotify

Play clips from this episode More from Chris Judd's Talk Ya Book Podcast