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  "documentTitle": "TransMedics (TMDX)",
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  "notes": "The slide uses a 'guilt by association' argument, linking TransMedics to a failed company (Nevro) based on demographic patterns in their user base.",
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      "text": "TransMedics bears a striking similarity with Nevro (NVRO), a device company and Scorpion’s first report – both are fueled by a clique of high-volume users of Middle East background.",
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      "text": "market cap: 98%",
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      "text": "As mentioned, we find that nepotism - of both the family and tribal variety - is an infrequent but reliable indicator of fraud. TransMedics bears a striking similarity with Nevro (NVRO), a device company and Scorpion’s first report...",
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      "text": "When Nevro developed their cult, and I don't want to seem...they got a lot of Middle Eastern doctors in there...they got this cult of Middle Easterners, Persians, and Arabs and stuff...",
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      "text": "“When Nevro developed their cult, and I don’t want to seem...they got a lot of Middle Eastern doctors in there...they got this cult of Middle Easterners, Persians, and Arabs and stuff. And this is not racist – they’re all good docs. When we had these think tanks with Nevro, I was the only white guy there. I think that added to the cult mentality, like this is our thing, this is our bandwagon. It was weird... if you look at the doctors in the forefront...the white-shoe reputable people....that’s not who they got....they brought in a bunch of guys – I wouldn’t say they were outcasts, but...I am blown away because every doctor I know that does a lot of implant volume doesn’t use Nevro except for a small cult.” — Surgeon and ex-Nevro user",
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