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  "notes": "The slide uses direct quotes from KOLs to frame the company's technology as a commoditized, overpriced solution with no clinical advantage over traditional cold storage.",
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      "text": "Zero value proposition; no difference in outcomes; no TAM",
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      "text": "One leading center after another indicated that the OCS platform is a commodity with no value proposition, detailing why it failed in heart and lung, and why liver is next.",
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      "text": "One of the world's top liver transplant surgeons, perhaps the most influential KOL in the field, sharply criticized its use and indicated it has zero clinical benefit: “the problem with the market is that they’ve expanded use which doesn’t need to be expanded...it’s ridiculous...you’re replacing a very cheap technology that costs a few thousand dollars with one that costs $100,000”; “patient and graft survival are no different between cold storage and machine perfusion.” A transplant physician at Massachusetts General called it a commodity: “I don’t think there’s any magic to TransMedics...it’s got cute bells and whistles...let’s face it: there’s no secret sauce here”; and that it will be replaced shortly with devices that are “...a whole lot less costly, then you do that way...there’s no question...I think there will be a low threshold to jump over.”",
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      "text": "MGH calls perfusion pumps a commodity\n“I don’t think there’s any magic to TransMedics per se. It’s got cute bells and whistles; it travels. Let’s face it: there’s no secret sauce in this. Perfusion is in many ways perfusion and, in this case, normothermic perfusion is normothermic perfusion. It would be very hard to ascribe a special quality to one modality necessarily over another. If you can get that with one device comparably to another and logistically it’s less challenging and certainly a whole lot less costly, then you go that way, there’s no question. So, I think there will be a low threshold to jump over.” - Transplant hepatologist at Massachusetts General Hospital",
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      "text": "A: “The problem with the marketing is that they’ve expanded use which doesn’t need to be expanded. In other words, they’re talking about an $8 billion industry. That means that every organ would be pumped on the machine at $100,000; it’s ridiculous. You’re replacing a very cheap technology that costs a few thousand dollars with ne that costs $100,000.” Q: “You’re saying the device really doesn’t add value beyond the traditional method of cold storage.” A: “No, not for every organ because the pristine, what we call blue ribbon organs, they do perfectly fine. One thing that you can take away from all of these studies also is that the patient and graft survival are no different between the cold storage and machine perfusion...there was already a trend towards improved outcomes before the machines came out.” - One of the top liver transplant surgeons in the world, based at a leading academic center",
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      "text": "“the problem with the market is that they’ve expanded use which doesn’t need to be expanded...it’s ridiculous...you’re replacing a very cheap technology that costs a few thousand dollars with one that costs $100,000”; “patient and graft survival are no different between cold storage and machine perfusion.” — One of the top liver transplant surgeons in the world, based at a leading academic center. “I don’t think there’s any magic to TransMedics...it’s got cute bells and whistles...let’s face it: there’s no secret sauce here” — Transplant hepatologist at Massachusetts General Hospital.",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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