{ "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": 151, "pageCount": 342, "prevPage": 150, "nextPage": 152, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide presents two Q&A excerpts from a transplant surgeon to support the claim that TransMedics is hijacking the organ allocation process.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/151", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-151", "components": [ { "bbox": null, "kind": "callout", "text": "TransMedics has allegedly already penetrated Donor Net to hijack the organ allocation process", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a97d-6a18f99cf05c", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.86, "x": 0.07, "y": 0.35 }, "kind": "paragraph", "text": "Allegedly accessing Donor Net and “calling around” to offer the organ and bypass the organ", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "10a58dcf-ba7f-4bdd-ab0f-07406f02f398", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.86, "x": 0.07, "y": 0.63 }, "kind": "paragraph", "text": "TransMedics has allegedly already penetrated Donor Net to hijack the organ allocation process", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "927c75cb-46c0-427e-bf13-444c22b85149", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.86, "x": 0.07, "y": 0.41 }, "kind": "quote", "text": "Q: “I heard they were trying to badger an OPO to give them access to Donor Net.” A: “Yeah. They should not be allowed to have access to Donor Net. And I know that really certainly pisses off some OPOs when, for example, you get a situation where a transplant center turns down a liver that TransMedics has arrived to recover. And the TransMedics people start calling around to other surgeons, other programs, saying there’s a liver out there. Do you want to take it? And the OPOs are like, you can’t do that; that’s our job. We’ll allocate the organ; don’t be making these phone calls.” - Transplant surgeon at a high volume academic center", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a06f286f-acf2-44a3-beab-75bc12aa400a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.86, "x": 0.07, "y": 0.69 }, "kind": "quote", "text": "Q: “Are there ways that they could be leveraging their relationship with these OPOs - Nevada, Massachusetts - to do things like look at Donor Net, do things like jumping the line.” A: “Let’s say we have a scenario where we have a rapid DCD. We’re just going to put this liver on the machine and then allocate it. And then you have to take it on the machine and you have to pay for it. In Donor Net, you’ll see when you get an organ offer, and you look at there’s like a little blurb, the blurb will often say TransMedics is active in this area and can be utilized for organ recovery. So, they’ve already inserted themselves.“ - Transplant surgeon at a high volume academic center", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d26bded3-4cda-4fb5-a4e5-f1bcd755a271", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "Yeah. They should not be allowed to have access to Donor Net. And I know that really certainly pisses off some OPOs when, for example, you get a situation where a transplant center turns down a liver that TransMedics has arrived to recover. And the TransMedics people start calling around to other surgeons, other programs, saying there’s a liver out there. Do you want to take it? And the OPOs are like, you can’t do that; that’s our job. We’ll allocate the organ; don’t be making these phone calls. — Transplant surgeon at a high volume academic center", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a97d-6daba756a743", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.3, "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": "6c264e77-6a7a-47cd-be47-ee2d53e59067", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "A TransMedics “super user” and one we consider to be a willing participant in their organ steering scheme – was nonetheless candid about the company’s use of DonorNet to improperly shop organs and bypass the OPO’s ranked list of potential recipients", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "804c8e78-09d0-455c-9a3c-2de1390743d3", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }