{ "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": 172, "pageCount": 342, "prevPage": 171, "nextPage": 173, "slideType": "testimonial", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "The slide uses a Q&A format to highlight a specific industry pain point regarding the misuse of medical technology.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/172", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-172", "components": [ { "bbox": { "h": 0.05, "w": 0.86, "x": 0.07, "y": 0.48 }, "kind": "callout", "text": "Centers increasingly using the device off-label for storage at the hospital after initial recovery/transport on ice", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e5814b17-2375-4e26-bb63-d5d7fd88366a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.22 }, "kind": "paragraph", "text": "He estimated that 10% of livers in his region are now lost to damage through this practice, whether via physiologic injury from ice to pump or because organs are left on the pump for excessive periods: “that could get TransMedics into some trouble”; “they’re under increased scrutiny by the federal government…we have some frustrations with them because transplant centers will use it off-label”; “we have a surgeon here locally [who] recovers the liver and sends it to transplant program…and then that program puts the liver on the pump…well, they transplanted the liver late…they actually lost the liver on the pump.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b601cb0a-7c5b-43c7-bee3-e79b467aafe7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.68 }, "kind": "quote", "text": "Q: “Explain that off-label dynamic to me.”\nA: “They should send the TransMedics recovery surgeon... and then they use the device. The benefit really of the pump is that it allows the surgeons to sleep and transplant during normal business hours... we have a surgeon here locally. He shows up and recovers the liver, and sends it to that transplant program. And then, that program puts the liver on the pump and then transplanted the liver later. Well, they transplanted the liver late. They actually lost the liver on the pump. What we’ve seen - it’s happened three times in the last few months is transplant centers don’t want to pay the excessive cost to use their logistics, so they’ll have the organ recovered locally and then sent to them. So, I think that could get TransMedics into some trouble... the behavior of some of the transplant programs because of the TransMedics cost.” – CEO of a major OPO (Organ Procurement Organization), longtime industry executive", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2896a09d-4966-4f40-adb2-42f6d0b8ef56", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.53 }, "kind": "quote", "text": "A: “It’s an ultra-expensive device. They’re under increased scrutiny by the federal government. We have some frustrations with them because transplant centers will use it off-label, meaning they don’t want to pay for TransMedics for the recovery and the flight... we have a local recovery. We send them the liver, and then they put it on the TransMedics device. But they don’t want to pay for the recovery and the flight.”", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "460e78f0-ae1e-47c1-8c35-cbd5f460c7ec", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“It’s an ultra-expensive device. They’re under increased scrutiny by the federal government. We have some frustrations with them because transplant centers will use it off-label... we have a surgeon here locally. He shows up and recovers the liver, and sends it to that transplant program. And then, that program puts the liver on the pump and then transplanted the liver later. Well, they transplanted the liver late. They actually lost the liver on the pump.” — CEO of a major OPO (Organ Procurement Organization), longtime industry executive", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a97e-a9d915364d41", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "x": 0.07, "y": 0.96 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "38ca843a-013b-4c52-894b-e002d377b90b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "The CEO of an influential OPO in the Midwest echoed that centers are increasingly transporting organs on ice and then storing them on the device at the hospital for scheduling convenience.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "785beddd-dda5-40df-9241-8cffaff02c96", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }