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  "documentTitle": "TransMedics (TMDX)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "presentationDate": "2025-01-10 00:00:00",
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  "notes": "The slide highlights a competitive threat to TransMedics driven by OPO purchasing behavior.",
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      "kind": "callout",
      "text": "Tsunami of OrganOx and NRP will lead to collapse of TransMedics usage \"soon\"",
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      "text": "In addition to centers buying OrganOx directly, OPO’s – of which there are 57 that run the US organ transplant system under UNOS – are now purchasing the machines themselves to set up back-to-base facilities for all transplant centers in their territories, thus making machine perfusion essentially free for every hospital they work with.",
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      "text": "If you see the liver use start to go down, I can tell you, at least for here in the Bay Area, it will all be attributed right away to OrganOX. They can’t produce the machines fast enough. We would have purchased three of them, but they can only give us one at the moment.",
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      "text": "Whether it’s because TransMedics is too expensive or OrganOX is better, there is a desire for our transplant center to do more OrganOX when it becomes available. So, once we go live with it, we anticipate anywhere from 35 to 50 cases a year...",
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      "kind": "quote",
      "text": "\"Whether it’s because TransMedics is too expensive or OrganOX is better, there is a desire for our transplant center to do more OrganOX...that is a risk for the market share for TransMedics...liver is why OrganOX is taking off.\" — CFO of one of the largest OPO’s (organ procurement organizations) in the country. \"If you see the liver use start to go down, I can tell you, at least for here in the Bay Area, it will all be attributed right away to OrganOX. They can't produce the machines fast enough. We would have purchased three of them, but they can only give us one at the moment. So, then as soon as we deploy this program, we are in conversations with the perfusion group to bring in NRP. And if we want to provide NRP on 100% of our DCD donors, which is the bulk of the OCS liver machine use, is on those DCDs.\" — Executive at a leading West Coast OPO, longtime industry veteran",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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