{ "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": 313, "pageCount": 342, "prevPage": 312, "nextPage": 314, "slideType": "quote_slide", "function": "expose_contradiction", "density": "dense", "nDataPoints": 1, "notes": "The slide uses a direct quote to highlight a competitive threat to TransMedics' business model.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/313", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-313", "components": [ { "bbox": { "h": 0.03, "w": 0.86, "x": 0.07, "y": 0.51 }, "kind": "callout", "text": "OPO’s aggressively moving to OrganOx; costs transplant centers nothing", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ea7f89da-3e94-475b-81ac-77c99e6701b8", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "The West Coast OPO stated that OPO’s are now eliminating the need for centers to use TransMedics, by simply offering OrganOx as a free, back-to-base service near the hospitals they work with", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5374-767b-b3bd-1784fcdcf88b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.43, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "The West Coast OPO stated that OPO’s are now eliminating the need for centers to use TransMedics, by simply offering OrganOx as a free, back-to-base service near the hospitals they work with – and named the largest OPO’s in the country as quickly moving to the same model: “you can pick TransMedics and pay $100,000-plus, plus you’ll for my liver acquisition charge...or you could choose OrganOx normothermic perfusion and it costs you nothing, only the standard acquisition chare....that’s it...that’s all we charge....we’re launching our program...I don’t see why you, as UCSF or any of the transplant centers, would choose to use TransMedics....for any of the Bay Area donors....the group out of LA, the largest OPO in the country, they just received their machine...the OPO in Nevada has received their OrganOx machine...so all of these are going to be owned by the OPO and there is zero additional charge to the transplant center.’", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "21a283c6-aad8-4c70-9095-b8a95ab4f230", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.55 }, "kind": "quote", "text": "“We are paying for that. And if you’re a transplant center in Northern California, and you want normothermic perfusion, you can pick TransMedics and pay $100,000-plus, plus you’ll pay for my liver acquisition charge. Or you could choose OrganOX normothermic perfusion, and it costs you nothing, only the standard acquisition charge. That’s it. That’s all we charge. But we have three machine operators. We have purchased vehicles to move the machine around in. We’re launching our program. I don’t see why you, as UCSF or any of the transplant centers, would choose to use TransMedics over the OrganOX machine for any of the Bay Area donors. There’s another OPO based out of Sacramento; it’s a small group. They received their machine on the [redacted], and they’ll be live on [redacted] The group out of LA, the largest OPO in the country, they just received their machine, and I believe they’re arranging for their training sometime next month and that’s going live. The OPO in Nevada has received their OrganOX machine. So, all of these are going to be owned by the OPO and there is zero additional charge to the transplant center.” – Executive at a West Coast OPO, longtime industry veteran", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ad0957e7-7108-486e-a67a-b08e56d21ae8", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“We are paying for that. And if you’re a transplant center in Northern California, and you want normothermic perfusion, you can pick TransMedics and pay $100,000-plus, plus you’ll pay for my liver acquisition charge. Or you could choose OrganOX normothermic perfusion, and it costs you nothing, only the standard acquisition charge. That’s it…that’s all we charge. But we have three machine operators. We have purchased vehicles to move the machine around in. We’re launching our program. I don’t see why you, as UCSF or any of the transplant centers, would choose to use TransMedics over the OrganOX machine for any of the Bay Area donors. There’s another OPO based out of Sacramento; it’s a small group. They received their machine on the [redacted], and they’ll be live on [redacted] The group out of LA, the largest OPO in the country, they just received their machine, and I believe they’re arranging for their training sometime next month and that’s going live. The OPO in Nevada has received their OrganOX machine. So, all of these are going to be owned by the OPO and there is zero additional charge to the transplant center.” — Executive at a West Coast OPO, longtime industry veteran", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5374-767b-b3bd-193accfab99b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.3, "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": "2e8ab4b7-cf02-4a7e-8692-32fe374348d3", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }