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  "documentTitle": "PROCEPT BioRobotics Corporation (PRCT)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-01-16 00:00:00",
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  "notes": "Uses direct quotes from industry participants to undermine the bull case for Procept's operating leverage.",
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      "text": "our research suggests that removing reps from the OR may prove difficult, thus perpetuating these costs.",
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      "text": "As discussed, many sell-side analysts and market participants suspect that the AI capabilities of the new HYDROS system will allow Procept to cease having clinical reps in the OR for every Aquablation procedure, thus reducing a structural cost burden. However, our research suggests that removing reps from the OR may prove difficult, thus perpetuating these costs.",
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      "text": "\"I will tell you that there is no desire to leave the operating room. You want to be there commercially to ensure utilization...\" — Former Procept Manager, Nov 2024. \"There's always a rep [in the OR], and the nurses become dependent on them...I think they're crazy...\" — Major Hospital Urologist, Nov 2024. \"...right now, I would say 90% of all physicians need a representative of the company to be there present for the cases...\" — Former Procept Sales Rep, Nov 2024.",
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      "text": "Source: Spruce Point research",
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      "text": "Perspectives on The Potential Removal of Procept Clinical Reps From the OR",
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      "text": "Our Research Suggests It May Be Difficult To Reduce The Cost Burden Of Clinical Reps",
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