{ "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": 275, "pageCount": 342, "prevPage": 274, "nextPage": 276, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 0, "notes": "The slide uses a 'villain critique' style to highlight negative sentiment from industry insiders regarding TransMedics.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 0.95, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/275", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-275", "components": [ { "bbox": null, "kind": "callout", "text": "The list of major transplant centers which have reduced, eliminated, or are on a path to terminate TransMedics usage is long and growing quickly.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a988-3c7d7ea84179", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.27 }, "kind": "paragraph", "text": "MGH played a key role in the pivotal PROTECT trial, but two sources - a transplant physician and a hospital executive, both in leadership roles – expressed growing dismay and alarm, respectively, at the company’s practices.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6f273e09-8df7-49e9-9375-1a142b11c2ed", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.19 }, "kind": "paragraph", "text": "We document others beyond the ones already quoted, with the following on this page alone: Massachusetts General, University of Cincinnati, University of Virginia, and University of Washington.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c527cb10-92a7-4917-8eb0-9aeb842098ff", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.51 }, "kind": "quote", "text": "MGH signaled their intent to reduce usage of TransMedics. \"I am not solely loyal to TransMedics. We do use TransMedics quite a bit, and I do have thoughts regarding the future\" – Veteran transplant administrator/executive at MGH", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a9515598-e402-4393-a167-de614d7d32c8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.77 }, "kind": "quote", "text": "University of Washington allegedly trying to kill off TransMedics usage; questionable outcomes. \"...they were trying to block all TransMedics business... they were making an effort to not use it at all... they were worried about the outcomes...\"", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d28ac727-85a3-4ab0-b627-a1bdbec05b97", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.61 }, "kind": "quote", "text": "Major centers moving to competing devices. \"I know University of Cincinnati was using TransMedics, and they're getting away from it... University of Virginia is another one.\" – Executive at a major OPO", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fa67c41f-fafc-46af-a93a-8a240dea016a", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"I am not solely loyal to TransMedics. We do use TransMedics quite a bit, and I have thoughts regarding the future\" — Veteran transplant administrator/executive at Massachusetts General Hospital; \"I know University of Cincinnati was using TransMedics, and they're getting away from it because it's just so darn expensive... University of Virginia is another one.\" — Executive at a major OPO; \"One of my contacts works here locally at UW... they were trying to block all TransMedics business because they're upset about the cost and everything... they were making an effort to use it at all.\" — Former TransMedics OCS specialist", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a988-434f899f63fd", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.25, "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": "da9e3220-3034-41e4-ba58-9febedae31e5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "The list of major transplant centers which have reduced, eliminated, or are on a path to terminate TransMedics usage is long and growing quickly.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5064e2ca-b319-4674-8867-28dcc125e9ff", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "villain-critique", "slug": null, "matchId": "a3a70d21-00df-48bd-afa4-8b76b301d215", "evidence": "The slide systematically presents negative testimonials to undermine the company's market position.", "confidence": 0.8 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }