{ "docId": "019dd923-622c-750b-8b9a-2a2468219173", "docSlug": "ce565b841c40", "documentTitle": "Nevro Corp. (NVRO)", "authorId": "58_Scorpion_Capital", "authorName": "Kir Kahlon", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2021-01-07 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 103, "pageCount": 239, "prevPage": 102, "nextPage": 104, "slideType": "testimonial", "function": "illustrate_case", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses highlighted text to emphasize key negative sentiment regarding Nevro's product reliability and transparency.", "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/103", "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-103", "components": [ { "bbox": null, "kind": "callout", "text": "I made the decision that Nevro can't really be used, based on the problems we're seeing. So, the percentage of my implants that are Nevro is zero. None.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-3f3d-76db-b33e-9fbef13317f0", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.13 }, "kind": "paragraph", "text": "Case study #4: A fourth high-volume implanter and KOL corroborated the accuracy of the previous case studies in detail. He stated he is friendly with some of Nevro's top engineers, and that his conversations with \"hundreds of physicians across the US and internationally\" – in his capacity as a speaker/educator – underscored the widespread nature of Nevro's device failure and explants crisis. He personally came to the conclusion that Nevro simply \"can't be used, based on the problems we're seeing,\" and questioned Nevro's refusal to publish real explant data.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3c63c7c4-10e7-413a-a108-911ad3e562f6", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.9, "x": 0.05, "y": 0.62 }, "kind": "quote", "text": "\"I can tell you from talking to hundreds of physicians across the United States and internationally, because I did speaking programs internationally, it's about explants. The number of explants that you see...you can do the math. Why doesn't Nevro publish its explant data? We've asked them to do that, and they refused. You put a stimulator in, life is good for a little while. Then the honeymoon's over. Nevro doesn't talk about explant data long-term, and you need that because that's real life.\" – High volume implanter/speaker/KOL", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "987d8eb7-c023-4acd-95a8-33daacecc51b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.9, "x": 0.05, "y": 0.42 }, "kind": "quote", "text": "\"Some of the engineers at Boston Scientific went to Nevro. I know a couple of them very well. There was a pretty significant falloff in Nevro usage after the honeymoon period of something new and sexy hitting the market. There were significant problems, including in evaluating their studies. We saw this before with St. Jude. Based on Nevro's study design and based on the number of explants that I and other doctors have had to do, I made the decision that Nevro can't really be used, based on the problems we're seeing. So, the percentage of my implants that are Nevro is zero. None.\"", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a0b194ae-e358-434f-9bb9-c183138ad45f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.3 }, "kind": "quote", "text": "\"I use Boston Scientific, but I'm not hard-core. I haven't done slideshows for them in three years, maybe more, so it's not like I'm a sheltered animal, I just wound-up evolving to use them. I implant maybe 75 stimulators per year, sometimes 100.\"", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b634aa8e-0a35-4b98-9737-270db09101cb", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“Some of the engineers at Boston Scientific went to Nevro. I know a couple of them very well. There was a pretty significant falloff in Nevro usage after the honeymoon period of something new and sexy hitting the market. There were significant problems, including in evaluating their studies. We saw this before with St. Jude. Based on Nevro’s study design and based on the number of explants that I and other doctors have had to do, I made the decision that Nevro can't really be used, based on the problems we're seeing. So, the percentage of my implants that are Nevro is zero. None.” — High volume implanter/speaker/KOL", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-3f3d-76db-b33e-a352a93a74ca", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.05, "y": 0.95 }, "kind": "source-note", "text": "Source: Consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8ee738d6-ce69-4401-9f4f-947a619ff698", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.8, "x": 0.05, "y": 0.09 }, "kind": "title", "text": "7. Nevro's explants crisis is pervasive yet unknown to most investors: case studies of 5 KOL's", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4ff72c01-739d-4aa9-873b-f2b75ca8c2a8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.05, "y": 0.04 }, "kind": "title", "text": "Scorpion Capital | Nevro (NYSE: NVRO)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4ace6129-67df-4506-9905-626912ed4329", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 150, "from": 51, "beatId": "903c076a-f368-4ca1-844c-277874c1afb2", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "The Victory", "beatSlug": "overcoming-monster-the-victory", "evidence": "The deck presents a conclusion that Nevro's problems are insurmountable", "position": 2, "confidence": 0.8, "parentBeatName": "Turn", "parentBeatSlug": "turn" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }