{ "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": 67, "pageCount": 342, "prevPage": 66, "nextPage": 68, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses direct quotes from a transplant surgeon to support the claim of coercive business practices.", "elementsJson": [ "paragraph", "quote_block" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/67", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-67", "components": [ { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "callout", "text": "TransMedics recently took away control of the device and transport and “boxed everyone into a corner...to use their transportation services.”\n“When we started this off, it used to be we had our own device. We bought our own cartridges, and we could use them as we pleased. And then they took our machine away and said, “No, you can’t.” It’s the lack of control over the device and now the lack of control over travel. So, they’ve really boxed everyone into a corner to use their transportation services.” - Transplant surgeon at a high volume West Coast academic center", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "027fcc84-2418-4bde-911e-76c93a1e0fb8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.62 }, "kind": "callout", "text": "TransMedics “find ways to increase your costs” if you refuse to use their air travel\n“While I think they’ve backed off from saying you can only use our transportation company; they make it so onerous to do your own travel. They find ways to increase your costs - they’re kind of like giving you no option but to sign with the company and use their transportation.” - Transplant surgeon at a high volume West Coast academic center", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1d4075a1-19de-45e5-ba7a-18d5d7ad535f", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "TransMedics \"find ways to increase your costs\" if you refuse to use their air travel", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a977-dccd3a3e3436", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.12 }, "kind": "paragraph", "text": "UCSD is one of TransMedics highest volume users and described coercion similar to but even more overt than at Massachusetts General. A transplant surgeon stated that “when we started this off...we had or own device and we could use them as we pleased...then they took our machine away and said ‘No, you can’t.’” UCSD stated that TransMedics forces them to use the NOP by escalating the cost if they use their own air transport versus the company’s jets – “they make it so onerous to do your own travel...they find ways to increase your costs...giving you no option but to...use their transportation”; “lack of control over the device and now the lack of control over travel...they’ve really boxed everyone into a corner to use their transportation...”", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "6f64c0d2-fd4b-4d02-a8b6-538dab7be0f4", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "\"When we started this off, it used to be we had our own device. We bought our own cartridges, and we could use them as we pleased. And then they took our machine away and said, 'No, you can't.' It's the lack of control over the device and now the lack of control over travel. So, they've really boxed everyone into a corner to use their transportation services.\" — Transplant surgeon at a high volume West Coast academic center", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a977-e365322fa6ff", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "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": "5396cb9a-0102-495d-a126-e446b3bfc7f8", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "Case study 2: University of California, San Diego.", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "daa59306-310d-4934-8cb0-12ee1d94a7b2", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "12b89533-9b10-46e7-935d-64d9fb61e5d7", "evidence": "The slide explicitly frames the company's business practices as coercive and manipulative, aiming to expose unethical behavior.", "confidence": 0.85 } ], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }