{ "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": 81, "pageCount": 342, "prevPage": 80, "nextPage": 82, "slideType": "testimonial", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 2, "notes": "The slide uses a combination of summary text and a direct, highlighted quote from a UCSF administrator to substantiate claims of fraudulent billing.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/81", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-81", "components": [ { "bbox": null, "kind": "callout", "text": "UCSF expressed outrage at the business practices, portraying an out-of-control company pushing any angle to deceive, manipulate, and defraud them for >$100,000 to $200,000 in inexplicable air transport charges per case", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a975-e85731665baa", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.86, "x": 0.07, "y": 0.19 }, "kind": "paragraph", "text": "A transplant administrator corroborated the air transport billing scheme detailed by the two ex-OCS Specialists. UCSF expressed outrage at the business practices, portraying an out-of-control company pushing any angle to deceive, manipulate, and defraud them for >$100,000 to $200,000 in inexplicable air transport charges per case – on top of almost $100,000 for the device itself", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e0d1bae9-1111-4328-be10-1aaec5d252b3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "paragraph", "text": "UCSF is a pre-eminent transplant center and one of the highest-volume in the world. They are a significant TransMedics customer, but told us that they hope to eliminate their usage of the device in early 2025.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e8272724-4a0c-4cd0-b7bf-d9158589b71f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.86, "x": 0.07, "y": 0.67 }, "kind": "quote", "text": "“Now, I don’t even bother. I would never even attempt to negotiate anything with them because they won’t negotiate. The transportation is a major problem for us. Part of the reason why our PO took so long to execute is because they just created their own transportation company and started flying - I hate flying their team all over the fucking country. I hate it. I hate paying for private jets to fly their surgeons all over. I don’t know why we have to pay for all these ridiculous transportation invoices. And I hate when, now that they’ve got their own transportation company, they just started flying their teams and sending us invoices. We can’t just pay a random—we can’t pay for flights from a company that we’re not contracted with. They have all these outstanding flight invoices because we don’t have a contract with...there’s very little transparency. Contracting with them for the transportation felt ridiculous because they couldn’t tell us what the rates were. Basically, we just get a piece of paper, an invoice that says you owe us for this flight going from here to here. It doesn’t say anything about what kind of aircraft it was, how long it was in the air—all this stuff. It’s just a number. They could have just made it up. I find that to be very frustrating.” – UCSF transplant administrator", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "127205e9-c0c2-4dfb-a166-f91c1d6f63b9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.86, "x": 0.07, "y": 0.37 }, "kind": "quote", "text": "“I hate flying their team all over the fucking country. I hate it. I hate paying for private jets to fly their surgeons all over. I don’t know why we have to pay for all these ridiculous transportation invoices...they just started flying their teams and sending us these invoices”; “very little transparency...they couldn’t tell us what the rates were...we just get a piece of paper that says you owe us for this flight...it doesn’t say anything about what kind of aircraft it was, how long it was in the air...it’s just a number...they could have just made it up...very frustrating.”", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "76a761c1-811e-4106-8034-4848fe9e93b6", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "I hate flying their team all over the fucking country. I hate it. I hate paying for private jets to fly their surgeons all over. I don't know why we have to pay for all these ridiculous transportation invoices...they just started flying their teams and sending us these invoices; very little transparency...they couldn't tell us what the rates were...we just get a piece of paper that says you owe us for this flight...it doesn't say anything about what kind of aircraft it was, how long it was in the air...it's just a number...they could have just made it up...very frustrating. — UCSF transplant administrator", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a975-ec2a90076ad0", "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": "d029f4e1-042e-48c5-a054-519188c62b26", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.45, "x": 0.07, "y": 0.63 }, "kind": "title", "text": "UCSF loathes TransMedics “ridiculous transportation invoices”", "attrs": null, "subkind": "action-title", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "eb405e93-9e19-4497-97a2-55ab745ef595", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }