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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 uses expert testimony to frame TransMedics as an overpriced incumbent being disrupted by a cheaper, established European technique (NRP).",
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      "text": "TransMedics cost is ridiculously high.",
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      "text": "NRP used in Europe for 20 years; Vanderbilt was the pioneer in US. Vanderbilt NRP usage has crushed use of TransMedics. NRP is 3% of TransMedics device cost.",
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      "text": "cost: $3,000",
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      "text": "Vanderbilt University – a transplant pioneer and perhaps the highest-volume center globally – also pioneered the use of NRP in the US, for both heart and liver. A transplant surgeon in a leadership role stated that NRP has now wiped out almost 100% of their use of TransMedics devices for both liver and heart – “it has been done in Europe for 20 years...over the last two years, Vanderbilt was the pioneer in using this technique” in the US. He stated they do 200 liver transplants a year, with TransMedics use now down to just 10 cases – “for each organ that you recover with TransMedics, it’s almost $100,000. NRP is $3,000, and with $3,000 you can recover the heart, lung, liver, kidney, and pancreas...so $3,000 versus $300,000 if you want to recover all the organs. TransMedics cost is ridiculously high.”",
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      "text": "\"it has been done in Europe for 20 years...over the last two years, Vanderbilt was the pioneer in using this technique\" — Transplant surgeon at Vanderbilt. \"For each organ that you recover with TransMedics, it’s almost $100,000. NRP is $3,000, and with $3,000 you can recover the heart, lung, liver, kidney, and pancreas...so $3,000 versus $300,000 if you want to recover all the organs. TransMedics cost is ridiculously high.\" — Transplant surgeon at Vanderbilt.",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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