{ "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": 213, "pageCount": 342, "prevPage": 212, "nextPage": 214, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 2, "notes": "The slide uses a Q&A format to present expert testimony regarding TransMedics' NOP (National Organ Procurement) operations.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/213", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-213", "components": [ { "bbox": null, "kind": "callout", "text": "The ex-TransMedics surgeon echoed others who called the use of unlicensed surgeons a “ticking time bomb” – “it’s their biggest risk...having people that don’t have licenses...I still don’t know how they did it.”", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a982-96c372cd831a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.56 }, "kind": "list", "text": "Allegedly half of NOP surgeons are unlicensed; takes years to satisfy licensure requirements\nQ: “How many surgeons do you think they have now?”\nA: “I’m aware of 10-15 at least or even 20 full-time surgeons.”\nQ: “And how many of those are licensed?”\nA: “Maybe half, maybe a bit less than that, maybe half [...] do their surgeons have a license? No, they don’t.”\nQ: “Why can’t they get US-licensed physicians?”\nA: “That’s a lot of work. You need to do USMLE exams, which is four big exams. Like I did four exams. And then you need to get at least one year training. Some states will ask for two or three to be licensed in the US. You cannot get licensed without doing step exams which take at least two years. It’s a lot of work. It’s not something definitely you’re going to bring a full-blown surgeon at the age of 50 and ask him to do.” – Transplant procurement surgeon previously working with TransMedics", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7aff2e74-5079-46e6-80b9-c14cc91e909f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "The ex-TransMedics surgeon echoed others who called the use of unlicensed surgeons a “ticking time bomb” – “it’s their biggest risk...having people that don’t have licenses...I still don’t know how they did it.” He stated that TransMedics NOP employs or contracts “10-15 at least or even 20 full-time surgeons” and that “maybe half, maybe a bit less” are licensed – “do their surgeons have a license? No, they don’t.” When we asked how long it takes to get licensed, he detailed the years of study, exams, fellowships and so forth he underwent for licensing, and stated it is unrealistic for TransMedics foreign-trained imports to do the same: “it’s a lot of work...it’s not something definitely you’re going to bring a full-blown surgeon at the age of 50 and ask him to do.”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ed81ae12-3bd8-4b34-8481-d5bbd1cfda75", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.1, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "quote", "text": "“Biggest risk” is unlicensed surgeons ; ex-surgeon surprised they pulled it off\n“I mean, their biggest risk, I think is actually having people that don’t have licenses. I still don’t know how they did it.” -Transplant procurement surgeon previously working with TransMedics", "attrs": null, "subkind": "pull-quote", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f3e928f3-4bca-444d-9266-2c82823157ff", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“I mean, their biggest risk, I think is actually having people that don’t have licenses. I still don’t know how they did it.” — Transplant procurement surgeon previously working with TransMedics", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a982-9bfa3edb67f4", "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": "49a2049d-622c-4e70-af4b-bfd03d1019c4", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "expose_contradiction", "slug": null, "matchId": "9b1654f8-80f3-4727-99fe-24089e4091e4", "evidence": "The slide presents expert testimony to contradict the implied legitimacy of TransMedics' surgical staffing practices.", "confidence": 0.9 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }