We think Champion's success will mostly accrue to BSX. However, between ABT's CATALYST trial which recently completed enrollment (see TD Cowen report), and its next-gen Amulet 360 system, we believe ABT can at least retain share in a substantially larger LAAC market opportunity that starts to emerge later this year and become more meaningful in the outyears. We would also highlight that reimbursement coverage gains driven by Champion likely will not be specific to Watchman FLX Pro. This means that BSX and Watchman's coverage gains will provide coattails for the entire LAAC market, benefiting ABT, whose label update from CATALYST could trail BSX's label from Champion by 1 year or more.