{
  "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": 179,
  "pageCount": 342,
  "prevPage": 178,
  "nextPage": 180,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 3,
  "notes": "The slide uses a Q&A transcript format to highlight the discrepancy between regulatory guidelines and real-world surgical behavior.",
  "elementsJson": [
    "paragraph",
    "quote_block",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/179",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-179",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The concentrated group of “super users” who drive TransMedics revenue regularly, we were told, push the period far beyond 30 minutes, to 2 hours or more.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-5373-719d-a97f-90eabd8328a7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.86,
        "x": 0.07,
        "y": 0.58
      },
      "kind": "list",
      "text": "Q: You said extended warm times... How far are you able to successfully push that? A: ...we've waited two hours... We wait 45 minutes. Q: What was the rationale... A: ...significant increase in the rate of complications... Q: What percentage... A: ...more than 50% are over 30 minutes.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ac2089b5-e582-4b3e-8ba2-7ded66665aee",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "paragraph",
      "text": "The surgeon’s speculation – that very few device users would be reckless enough to push the warm ischemic time beyond 30 minutes... is naïve and merely the tip of the iceberg.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7bb45de7-dd1f-4851-983a-7229a0cf8695",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“the problem is that the national registry, the UNOS database, doesn’t collect information about...the perfusion time or some of the parameters we think are very important, like donor warm ischemia time.” — KOL; “more than 50% [of donor livers] are over 30 minutes” and that “we’ve waited two hours...we wait 45 minutes” — TransMedics’ highest-volume user; “the rationale is you had a significant increase in the rate of complications...where the liver just doesn’t work.” — TransMedics’ highest-volume user",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-5373-719d-a97f-968388898e28",
      "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": "e414d317-d107-4841-850d-fafc448cd00a",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "iceberg-model",
      "slug": null,
      "matchId": "59585f7b-6164-4d0d-906b-b25d2fe0a347",
      "evidence": "The text explicitly mentions 'merely the tip of the iceberg' to describe the gap between stated guidelines and actual practice.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}