{ "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": 216, "pageCount": 239, "prevPage": 215, "nextPage": 217, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses a series of quotes to build a narrative of corruption and unethical business practices.", "elementsJson": [ "headline_text", "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-2a2468219173/216", "deckHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-2a2468219173#slide-216", "components": [ { "bbox": null, "kind": "callout", "text": "KOL's and executives in the SCS space listed various high volume Nevro implanters by name and described them as \"their whore for California,\" \"a guy who takes money,\" \"borderline unethical what they do,\" doctors you could \"blow the whistle on,\" or as \"coin-operated.\"", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-3f3d-76db-b349-f9a8ac4fb72c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.88, "x": 0.06, "y": 0.13 }, "kind": "paragraph", "text": "KOL's and executives in the SCS space listed various high volume Nevro implanters by name and described them as \"their whore for California,\" \"a guy who takes money,\" \"borderline unethical what they do,\" doctors you could \"blow the whistle on,\" or as \"coin-operated.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ce950e84-cc23-47a0-8c08-cf0ef32ec195", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.88, "x": 0.06, "y": 0.26 }, "kind": "quote", "text": "\"People know I don't take money and other doctors aren't so much like that. If you look up [name redacted] in my area on doctors for dollars he gets paid for talks. He tells reps to their face wont that he won't prescribe unless they put him on as a speaker. He goes 3 talks a day at $3,000 each. [Doctor name redacted] is Nevro's whore for California. He does lots of studies for them. They promote him. He gets on their papers. He's not part of the KOL crowd. [Prominent Nevro implanter] is a guy who takes money.\" - KOL", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "15864832-cd84-43ce-ada6-6d8fee7f5eed", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.88, "x": 0.06, "y": 0.46 }, "kind": "quote", "text": "\"It's borderline unethical what they do with [name redacted]. They pay him all kinds of stock options. He runs a lot of meetings and programs. He was the head of [redacted]. He makes a lot of decisions on papers and conference presentations. You could blow the whistle on these guys. NANS finally beat on these guys but they're still doing same stuff. He's now doing that with [company name redacted]\" - Key Nevro pivotal trial investigator", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1a9206af-0ec3-46e5-9c1a-3033878017a2", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.88, "x": 0.06, "y": 0.66 }, "kind": "quote", "text": "\"The physician that's on stage at a society meeting is usually a consultant for the company. [Name redacted] as an example out of San Francisco, during Nevro's rise, was one of their strongest consultants. He's coin-operated, and he will say what he benefits from, as do most of these guys.\" - Longtime executive in the SCS space", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d2502851-2e91-4b2c-841d-cdddc3051974", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"People know I don't take money and other doctors aren't so much like that. If you look up [name redacted] in my area on doctors for dollars he gets paid for talks. He tells reps to their face wont that he won't prescribe unless they put him on as a speaker. He goes 3 talks a day at $3,000 each. [Doctor name redacted] is Nevro's whore for California. He does lots of studies for them. They promote him. He gets on their papers. He's not part of the KOL crowd. [Prominent Nevro implanter] is a guy who takes money.\" — KOL; \"It's borderline unethical what they do with [name redacted]. They pay him all kinds of stock options. He runs a lot of meetings and programs. He was the head of [redacted]. He makes a lot of decisions on papers and conference presentations. You could blow the whistle on these guys. NANS finally beat on these guys but they're still doing same stuff. He's now doing that with [company name redacted]\" — Key Nevro pivotal trial investigator; \"The physician that's on stage at a society meeting is usually a consultant for the company. [Name redacted] as an example out of San Francisco, during Nevro's rise, was one of their strongest consultants. He's coin-operated, and he will say what he benefits from, as do most of these guys.\" — Longtime executive in the SCS space", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-3f3d-76db-b349-fd394519ceec", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.2, "x": 0.06, "y": 0.96 }, "kind": "source-note", "text": "Source: Consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "406ee94e-73ae-4d85-a460-2974bd082853", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.88, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "17. We believe that Nevro's business model hinges on unsustainable kickbacks to high-volume implanters", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e29d9290-2c95-48e8-905a-9d36a98b2b95", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.35, "x": 0.06, "y": 0.04 }, "kind": "title", "text": "Scorpion Capital | Nevro (NYSE: NVRO)", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c06c303b-834d-46e9-bd5c-75665b37c16b", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "44587dc2-4151-4b20-b22b-98c6e7b25a56", "evidence": "The slide explicitly frames the business model as relying on unethical kickbacks and uses quotes to expose alleged corruption.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }