{ "docId": "019dd923-622c-750b-8b9a-40e2965928db", "docSlug": "e5bffbaac707", "documentTitle": "TransMedics (TMDX)", "authorId": "58_Scorpion_Capital", "authorName": "Scorpion Capital", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2025-01-10 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 144, "pageCount": 342, "prevPage": 143, "nextPage": 145, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "balanced", "nDataPoints": 0, "notes": "Includes a Q&A transcript excerpt as evidence for the allegations.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/144", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-144", "components": [ { "bbox": null, "kind": "callout", "text": "TransMedics is allegedly pushing questionable organs that reputable centers won't touch - and these dubious organs appear to be the currency by which TransMedics boosts device volumes and by which its top users boost their transplant volumes.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a97c-29b6c9667d2b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.28, "w": 0.86, "x": 0.07, "y": 0.62 }, "kind": "paragraph", "text": "Surgical technician: TransMedics contacting centers to shop questionable organs\nQ: “I’m hearing that sometimes the receiving center doesn’t want the organ and TransMedics is bypassing the organ allocation system - they’re just texting and calling surgeons that use the device a lot, saying will you take it? And, obviously, they’re never going to call anybody who’s not a TransMedics user because the deal is we can get you this organ, but it’s going to be on a TransMedics device. That sounds like a hardcore kickback.”\nA: “Yeah, for sure. I was in a recent operating room where TransMedics was there. It was a DCD, and the patient ended up not passing, but because the time frame expired, they went to another center and TransMedics did contact that center. I’m not 100% sure how the OPO was involved in that, but TransMedics was definitely contacting other centers, saying if we go past 120 minutes...” – Organ procurement technician at a high volume Northwest academic transplant center", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0a4eabe2-8b4b-4fe5-8897-72f70e1dfe97", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.45, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "TransMedics alarming alleged conduct inside operating rooms appears to be well-known among surgical staff at major transplant centers. An organ procurement technician at a leading center in the Pacific Northwest – who travels frequently to retrieve organs and is often in the operating room with TransMedics procurement teams – confirmed the modus operandi: “I was in a recent operating room where TransMedics was” and that its team “was definitely contacting other centers, saying if we go past the 120 minutes....” The technician was referring to a DCD donor that didn’t expire in time, meaning the organ was compromised due to an extended lack of circulation. The first center on the match list therefore declined the organ – but TransMedics allegedly contacted centers willing to take an organ with a warm ischemic time of over 2 hours. In other words, as we detail in a separate chapter, TransMedics is allegedly pushing questionable organs that reputable centers won’t touch – and these dubious organs appear to be the currency by which TransMedics boosts device volumes and by which its top users boost their transplant volumes.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8965f9d5-77df-4cb7-96d7-938dbfa4dd0e", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "I was in a recent operating room where TransMedics was there. It was a DCD, and the patient ended up not passing, but because the time frame expired, they went to another center and TransMedics did contact that center. I'm not 100% sure how the OPO was involved in that, but TransMedics was definitely contacting other centers, saying if we go past 120 minutes... — Organ procurement technician at a high volume Northwest academic transplant center", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a97c-2f1962e25199", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.07, "y": 0.95 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0dc87c70-2ad6-41f3-88b5-820ac41c3538", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Narrative foundations (from the Storymakers methodology)", "slug": "narrative-foundations", "agent": "storyteller", "layer": "slide", "matchId": "ca49df01-3469-4cab-aed8-5bc1186e9c2a", "evidence": "The text provides a narrative of events, setting a foundation for the allegations.", "confidence": 0.5 } ], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }