{ "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": 66, "pageCount": 342, "prevPage": 65, "nextPage": 67, "slideType": "villain_critique", "function": "name_villain", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a Q&A format to present expert testimony as evidence of the company's alleged predatory practices.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/66", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-66", "components": [ { "bbox": { "h": 0.04, "w": 0.86, "x": 0.07, "y": 0.47 }, "kind": "callout", "text": "Centers indicate that the TransMedics NOP is inefficient and marred by delays that jeopardize organ procurement", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c1ff12c4-9e7c-407d-acc3-bfc25ee41213", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "The “delays” appear intentional to force the center to pay for a second TransMedics plane versus traveling with the procurement team, as well as driven by incompetence that may result in stranded and lost organs.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a978-4bdb1769c822", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.22, "w": 0.86, "x": 0.07, "y": 0.22 }, "kind": "paragraph", "text": "MGH painted the logistics as amateurish and marred by delays and bottlenecks, in contrast to MGH’s in-house ability to manage the complex “orchestration” of staff and resources to procure an organ. The “delays” appear intentional to force the center to pay for a second TransMedics plane versus traveling with the procurement team, as well as driven by incompetence that may result in stranded and lost organs – “...and they’re dragging their feet...and here we are scrambling...to get the orchestration done, but we ended up finding out TransMedics has been ‘working on certain things’ for hours...potentially the organ will not be used....”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "66f29d38-14f4-4fae-ae78-c2f166d46bf7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.42, "w": 0.86, "x": 0.07, "y": 0.52 }, "kind": "quote", "text": "Q: “You made a comment that’s consistent with what I’ve heard from others about delays... they’re basically holding organs hostage, somebody used the word ‘extortion.’ Walk me through what you were referring to.” A: “...It’s an orchestration, and there’s an art to it. When it comes to TransMedics...and we’re going to need the team...and they’re dragging their feet. And here we are scrambling to try to get to that timeline of can we get the team? ...we ended up finding out TransMedics has been “working on certain things” for hours, and then we get notified, and so the only last-ditch effort before we forego the organ and potentially the organ will not be used because it might be up in eastern Maine...then there’s no other option other than eat the cost.” – Veteran transplant administrator/executive at Massachusetts General Hospital", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ad172896-8faa-4a95-90df-e9f30e1e4739", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "It’s an orchestration, and there’s an art to it. When it comes to TransMedics...and we’re going to need the team...and they’re dragging their feet. And here we are scrambling to try to get to that timeline of can we get the team? Not just the procuring team who work for us but also the air charter and making sure the pilots don’t time out if we do a round trip, making sure that we have all the logistics set up for getting the team and if we have to use the device or not or a different technology or not or instead of equipment, the donor could be in way north Maine or they could be in an urban setting. We have to factor all of those things in. And so, here we are scrambling to get the orchestration done, but we ended up finding out TransMedics has been “working on certain things” for hours, and then we get notified, and so the only last-ditch effort before we forego the organ and potentially the organ will not be used because it might be up in eastern Maine, as I mentioned, then there’s no other option other than eat the cost. — Veteran transplant administrator/executive at Massachusetts General Hospital", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a978-4c0308b72e3a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.25, "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": "439bde2c-9275-41cb-b583-917ece5888ba", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Case study 1: Massachusetts General Hospital (cont’d). MGH’s experience exposes the TransMedics NOP as a charade to pressure centers into paying for bundled services and air transport at inflated prices, not as a logistics “hub” that makes organ procurement faster or cheaper.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7f5476e1-bff9-4b57-897c-a3c8adce6e2e", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }