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  "documentTitle": "TransMedics (TMDX)",
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  "presentationDate": "2025-01-10 00:00:00",
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  "notes": "The slide uses strong, emotive language to frame the company's leadership as the primary antagonist.",
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      "text": "“Dishonest” and “claims are exaggerated”\n“[W]e’ve been involved in some of their trials...their company, from a corporate culture point of view, is dishonest, to be blunt, and I think their claims are exaggerated.” – Prominent surgeon, Director of a leading academic transplant center",
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      "text": "CEO is “so disingenuous” – disliked by hospitals\n“I don’t like Waleed or a lot of their upper management...he’s doing the fake it ‘til you make it thing. He doesn’t acknowledge facts. He doesn’t acknowledge the fact that reimbursement is an issue. He doesn’t acknowledge that there are other companies that are out there with technology. He always badmouths every other company when, in fact, other companies have got some really great ideas to the point, by the way—and this goes to show you what a fuck-face he is...he’s so disingenuous...” – Prominent surgeon, Director of a leading academic transplant center",
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      "text": "I don't like Waleed or a lot of their upper management...he's doing the fake it 'til you make it thing. He doesn't acknowledge facts.",
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      "text": "TransMedics practices have broadly antagonized the entire transplant field, past the point of no return and consistent with a company in the midst of a customer exodus and death spiral. The level of rage, venom, and expletives – towards its CEO and management team, in particular - is unlike anything we have ever heard. Across dozens of interviews with surgeons, transplant center administrators, and ex-executives/employees, the sentiment was universal. Notably, its highest-volume users exhibited similar animus and signaled their intent to eliminate or sharply reduce use of the TransMedics device as soon as possible. We begin with a prominent KOL and Director of a leading academic transplant center – whose colorful language was representative. The KOL is well-published with a national reputation, participated in TransMedics trials, and knows the CEO well: “their company, from a corporate culture point of view, is dishonest...their claims are exaggerated”; “I don’t like Waleed or a lot of their upper management...he’s doing the fake it til you make it thing...what a fuck-face he is...he’s so disingenuous.”",
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      "text": "\"their company, from a corporate culture point of view, is dishonest...their claims are exaggerated\"; \"I don't like Waleed or a lot of their upper management...he's doing the fake it til you make it thing...what a fuck-face he is...he's so disingenuous.\" — Prominent surgeon, Director of a leading academic transplant center",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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