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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 direct quotes from surgeons to validate the market share shift thesis.",
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      "text": "XVIVO heart system will take half of TransMedics remaining heart volume; but both being decimated by NRP",
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      "text": "NRP rapidly eroding TransMedics market share in DCD hearts",
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      "text": "TransMedics had 100% of the DCD heart market a mere 2 to 3 years ago. That share dropped to 60-70% vs. 30% NRP over the last year or two, but NRP has now flipped to pole position with 50-60% share at TransMedics expense.",
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      "text": "market share: 50-60%",
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      "text": "TransMedics had 100% of the DCD heart market a mere 2 to 3 years ago. That share dropped to 60-70% vs. 30% NRP over the last year or two, but NRP has now flipped to pole position with 50-60% share at TransMedics expense...",
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      "text": "\"TransMedics' device first started getting used in the US... last year, in 2023, there were over 600 DCD hearts done, of which probably about 60-70% were on TransMedics and 30% were NRP...\"",
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      "kind": "quote",
      "text": "\"In addition to NRP you should be aware that XVIVO has finished their Australian trials... Both XVIVO and TransMedics are going to have serious competition from NRP...\"",
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      "text": "\"both XVIVO and TransMedics are going to have serious competition from NRP...I think at least 50% of heart centers will feel very comfortable doing NRP...they're going to split that remaining market right down the middle.\" — Prominent surgeon, director of leading academic transplant center",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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      "text": "Cardiothoracic transplant surgeons indicated that NRP has rapidly eroded TransMedics usage in DCD hearts in the past 12 to 24 months.",
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