{ "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": 87, "pageCount": 342, "prevPage": 86, "nextPage": 88, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a Q&A format to provide primary source evidence for the claims made in the headline.", "elementsJson": [ "paragraph", "quote_block", "footnote" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b9a-40e2965928db/87", "deckHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db", "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-40e2965928db#slide-87", "components": [ { "bbox": null, "kind": "callout", "text": "Three planes charged to transplant center; multiple ways that TransMedics coerces centers", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5373-719d-a977-3403b4c4abe5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.65, "x": 0.07, "y": 0.41 }, "kind": "paragraph", "text": "Three planes charged to transplant center; multiple ways that TransMedics coerces centers", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d4186e70-0863-45a9-a5b0-48cd3c954e32", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "quote", "text": "Q: “It sounds like there are DOJ claims and indictments waiting to happen, which is kind of what Gosar’s letter was saying.” A: “Yeah, it’s crazy. They’ll deny it. There are times where—again, we might have that donor in Reno—perhaps we have a machine available here, and there are times when we have an OR and three planes land for the TransMedics operation. One brought the machine from San Ramon. The other one, they sent a surgeon in from Phoenix, and the other plane brought in an OCS specialist, their technician, to operate the machine from San Diego. It is crazy what they’re doing. I don’t understand.” Q: “So, they’re charging people for three planes.” A: “They charge the fee for the disposable, the charge the transplant centers, to my knowledge, a $10,000 fee for the technician that operates the device, and as far as I know at this point, they’re not training anyone other than their own staff to operate the device. They also won’t sell you the device. Then they’ll charge you $10,000 for the surgeon when they secure a surgeon, and then on top of that, they’ll pass along to the transplant center the cost of any flight that came in. So, sometimes, three flights get passed on to the transplant center.” – Executive at a leading West Coast OPO, longtime industry veteran", "attrs": null, "subkind": "testimonial", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2718d4d4-7466-4c82-a552-fa543c5429ef", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "“Yeah, it’s crazy. They’ll deny it. There are times where—again, we might have that donor in Reno—perhaps they have a machine available here, and there are times when we have an OR and three planes land for the TransMedics operation. One brought the machine from San Ramon. The other one, they sent a surgeon in from Phoenix, and the other plane brought in an OCS specialist, their technician, to operate the machine from San Diego. It is crazy what they’re doing. I don’t understand.” — Executive at a leading West Coast OPO, longtime industry veteran", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5373-719d-a977-3b237f9bf46d", "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": "b8c5ba30-e153-4573-83bb-665355055099", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.28, "w": 0.86, "x": 0.07, "y": 0.07 }, "kind": "title", "text": "The OPO executive described TransMedics conduct as “crazy…they’ll deny it.” He provided examples when “three planes land for the TransMedics operation” for a single case and “get passed on to the transplant center” – one bringing the device from their hub in San Ramon, CA; one with a procurement surgeon flown in from Phoenix, AZ; and a third carrying the device technician from San Diego, CA – “it is crazy what they’re doing…I don’t understand.” He indicated that centers have no other option as TransMedics no longer allows them to operate the device themselves – “they’re not training anyone other than their own staff to operate the device…they also won’t sell you the device.”", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "cf06da57-2d0c-4841-a7be-ac766e54b014", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }