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  "documentTitle": "Penumbra, Inc. (PEN)",
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  "notes": "The slide emphasizes the proprietary and exclusive nature of the data to bolster the credibility of the activist's analysis.",
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      "text": "It is important to note that, to our knowledge, this data is known to very few market participants: it is designed for and provided primarily to the health care industry...",
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      "text": "It is important to note that, to our knowledge, this data is known to very few market participants: it is designed for and provided primarily to the health care industry. Our understanding is that it is known to few, if any, sell-side brokerage firms. It is also priced to a corporate end market and, as such, is likely too expensive for all but the largest of buy-side firms. We believe that the market is generally blind to this data, and that prices of Penumbra shares must adjust to reflect this powerful, credible, and compelling information.",
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      "text": "IQVIA MDSA branding and globe graphic",
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      "kind": "list",
      "text": "The MDSA is the new, enhanced replacement for QuintilesIMS' Hospital Supply Index. The syndicated sales database reports on medical device & supply purchases...",
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      "text": "In order to evaluate conflicting claims about aspiration catheter market share, Spruce Point obtained recent hospital transaction data from IQVIA...",
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      "text": "Source: Medical Device & Supply Audit, June 2013 – May 2018, IQVIA Inc. All Rights Reserved.",
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      "text": "IQVIA: Evaluating Shifting Market Share With Hospital Transaction Data",
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