{ "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": 309, "pageCount": 342, "prevPage": 308, "nextPage": 310, "slideType": "key_takeaways", "function": "summarize", "density": "overcrowded", "nDataPoints": 2, "notes": "The slide uses direct quotes from an OrganOx employee and a leading transplant surgeon to validate the thesis.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/309", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-309", "components": [ { "bbox": null, "kind": "callout", "text": "OrganOx was about $30,000, so it's about half the price. That's why we elected to stay with OrganOx.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5374-767b-b3bc-0db7a851830f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.22 }, "kind": "paragraph", "text": "We spoke with an OrganOx senior medical employee: \"OrganOx is rapidly growing...they're expanding quite quickly...they're increasing their US presence quite a bit...things are going well.\" One of the top liver transplant surgeons and KOL's noted an unpublished paper he recently reviewed, which surveyed 43 transplant centers in the US - it indicated OrganOx already has more share than TransMedics: \"I hadn't heard this until I read it in the paper - more people are using OrganOx...in the United States than are using TransMedics...I would have thought it was the other way around.\" The surgeon indicated his center went with OrganOx over TransMedics: \"we elected not to do it for livers...OrganOx was about $30,000, so it's about half the price.\"", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "838f6b11-7113-4643-985b-bb94364c3631", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.83 }, "kind": "quote", "text": "Although we signed onto it for livers, we decided not to purchase it. Initially, you had to buy half a million dollars worth of devices. They were charging $60,000 each, and you had to buy 10 units. And so, basically, that was your investment into their program. So, we elected not to do it for livers. OrganOX was about $30,000, so it's about half the price. That's why we elected to stay with OrganOX.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "28352af9-eb20-4504-b2bd-7eee2d1c003f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.52 }, "kind": "quote", "text": "OrganOx is rapidly growing...they're expanding quite quickly...they're increasing their US presence quite a bit. They have a new physical presence in New Jersey. Things are going well...it's a virtual direct competitor to TransMedics...in layman's terms, you can think of it as a machine that does essentially the same thing...these are the only two normothermic machine perfusion devices on the market...there are a few others that are about to make an entry into the US market.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4a3f0017-0fb1-4cd1-9177-0ffdfec68689", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.68 }, "kind": "quote", "text": "I just reviewed this paper and it was a survey of all the transplant programs around the world. There were like 43 respondents in the United States, and what was interesting - and I hadn't heard this until I read it in this paper - more people using OrganOX for normothermic machine perfusion of livers in the United States than are using TransMedics. And I would have thought it was the other way around. I would have thought TransMedics was higher than OrganOX.", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e8cd0dbc-86bf-4242-a5a7-da3d8bd9b5cb", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"OrganOx is rapidly growing...they're expanding quite quickly...they're increasing their US presence quite a bit...things are going well.\" — Senior medical employee at OrganOx. \"I hadn't heard this until I read it in the paper - more people are using OrganOX for normothermic machine perfusion of livers in the United States than are using TransMedics.\" — One of the top liver transplant surgeons in the world, based at a leading Midwest academic center.", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5374-767b-b3bc-126384ca8a96", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.25, "x": 0.07, "y": 0.96 }, "kind": "source-note", "text": "Source: Scorpion Capital consultation calls with experts", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ecd18e9e-c183-43a3-9911-93a5ede9d27e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Our research indicates OrganOx penetration is increasing rapidly and taking TransMedics market share – both are nearly identical normothermic pumps - with centers installing devices and getting trained, starting aggressively about 6 months ago.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7a7d812a-3f74-4d84-97e0-0ca1efbc7b3b", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }