{ "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": 108, "pageCount": 239, "prevPage": 107, "nextPage": 109, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses direct quotes from former consultants to substantiate claims of corporate misconduct.", "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/108", "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-108", "components": [ { "bbox": null, "kind": "callout", "text": "Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-3f3d-76db-b33f-46999b7e7523", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.09 }, "kind": "paragraph", "text": "8. Nevro’s response to its explants crisis appears to be marked by denial, cover-up, retaliation, and patient/doc manipulation", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "37db53ba-dc3b-45e4-830e-8189298e538b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.14 }, "kind": "paragraph", "text": "A KOL and former Nevro consultant reported other tactics beyond simply denying explants, describing behavior which sounds potentially retaliatory in trying to “discredit” doctors who criticize the company’s device, using the words “cult,” “Scientology,” “crazy,” and “fanatical” – labels identical or similar to those used by a number of other KOL’S. In particular, he detailed Nevro’s reaction to a paper which he stated showed that high frequency stimulation was degrading neurons and burning the myelin sheath. Another KOL alleged that Nevro planted doctors in conference audiences and gave them talking points.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b94d7e60-e76e-4581-a4a3-4797dd6f754b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.9, "x": 0.05, "y": 0.56 }, "kind": "quote", "text": "“Someone mentioned this article to someone else and next thing you know Nevro’s Chief Medical Officer quickly sent an email to Nevro’s entire sales force and to every one of their key opinion leaders accusing a doctor having written the article, just because the doctor happened to mention the article to somebody else. So they’re very fanatical. They’re very intense and anytime there’s the slightest bit of negative press they send out these massive press releases to all their doctors basically discrediting it and anybody who doesn’t believe it is not part of our camp and that’s it. They’re very intense.” – Former Nevro consultant and KOL", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "532e6dd4-19cd-4cb2-a344-8bd434045bf1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.9, "x": 0.05, "y": 0.32 }, "kind": "quote", "text": "“I was a consultant and speaker for Nevro from [redacted] to [redacted]. I was on the board of [society name redacted]. I just got tired of the company. I’m really well published in the field and it’s nothing personal against Nevro. Their devices just stopped working. Nevro is like a cult, like us versus them. It’s crazy. It’s like Scientology. They’ll cut you out, jump all over you. They’ll ostracize you and they’re very intense about it. There was a publication that [name redacted] did showing that high frequency stimulation was causing degradation of neurons. It was burning the sheath that goes around the axon, the myelin. People heard about this publication for a year or two before it came out.” – Former Nevro consultant and KOL", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a6487e1c-8c5b-4f3f-8a1a-4b6bdb76c39c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.76 }, "kind": "quote", "text": "“The doctors that use Nevro are very quick to raise their hands at conferences. It seems like Nevro gives them talking points. They train them on how to speak and what to bring up if someone says anything negative about Nevro.” - KOL and high volume implanter", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "bc006c5c-6f55-40ff-993c-2586ae138fc0", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“I was a consultant and speaker for Nevro from [redacted] to [redacted]. I was on the board of [society name redacted]. I just got tired of the company. I’m really well published in the field and it’s nothing personal against Nevro. Their devices just stopped working. Nevro is like a cult, like us versus them. It’s crazy. It’s like Scientology. They’ll cut you out, jump all over you. They’ll ostracize you and they’re very intense about it.” — Former Nevro consultant and KOL", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-3f3d-76db-b33f-491c3d939ad4", "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": "91096312-c8bd-4001-87f8-3f4b0c8aa0f7", "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": "0a58f041-4a35-4a41-955e-34b9cde18d34", "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 }