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  "documentTitle": "Nevro Corp. (NVRO)",
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  "notes": "Uses quotes from industry participants to validate the thesis of unsustainable pricing pressure.",
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      "text": "Nevro started price reductions in the space after Grossman came in. Nevro drastically lowered pricing to get as much share as possible in 2019. It’s cutting your nose off to spite your face.",
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      "text": "KOL’s confirmed the discounting dynamic which a former Nevro rep described as a price war",
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      "text": "A Medtronic territory manager, who runs one of their largest multi-state regions, stated that Nevro’s pricing was too high for ASC’s and that the company “drastically lowered pricing” in 2019 under the new CEO. A second territory manager reported price cuts under Grossman as well.",
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      "text": "Competitor interviews suggest that the new CEO has “drastically” cut pricing in an attempt to gain market share, and that with Omnia pricing still too high, further discounts are occurring. KOL’s confirmed seeing price reductions. A former Nevro rep described a recent 20% price cut by Medtronic and then being undercut by Abbott – providing field-level color into the current price war in stimulators.",
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      "text": "“Medtronic cut prices 20% last week in my territory. Abbot undercuts everyone on price and gave away the generators. There are different ways to get share.” – Former Nevro sales rep",
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      "text": "“They’ve consistently kept their pricing relatively higher than most. But under their new leadership, they seem to be falling more in line with local contracts... Omnia it high to the point where some facilities have said, we’re not approving it.” – Second Medtronic territory manager",
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      "text": "“Nevro has cut prices. I’m not getting pushback on prices from my facility like I was. They started discounting.” – High volume KOL",
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      "text": "“The market will be flat... Nevro started price reductions in the space after Grossman came in. Nevro drastically lowered pricing to get as much share as possible in 2019. It’s cutting your nose off to spite your face.” – Medtronic territory manager",
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      "text": "“The market will be flat. It should have been flat last year. There are just a lot of players in the market and pricing is eroding in the space. ASC’s couldn’t use Nevro because they kept the price really high. Grossman said screw that. We want as much market share as possible. Nevro started price reductions in the space after Grossman came in. Nevro drastically lowered pricing to get as much share as possible in 2019. It’s cutting your nose off to spite your face. Cutting prices will lower reimbursements over time.” — Medtronic territory manager",
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      "text": "Source: Consultation calls with experts",
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      "text": "15. Pricing pressure and discounting are a key driver of Nevro’s collapse and doom any return to growth",
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      "text": "Scorpion Capital | Nevro (NYSE: NVRO)",
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