TransMedics Group Announces Intent to Create the First Dedicated European Transplant Logistics Network with Strategic Investment in PAD Aviation service GmbH
Proposed strategic investment in Germany-based PAD Aviation, a premier European private aviation operator, intended to lay the foundation for TransMedics to establish a dedicated organ transplantation air logistics network across Europe
ANDOVER, Mass., April 29, 2026 /PRNewswire/ -- TransMedics Group, Inc. ("TransMedics") (NASDAQ:TMDX), a medical technology company that is transforming organ transplant therapy for patients with end-stage lung, heart, and liver failure, today announced that it has entered into a definitive agreement to invest in PAD Aviation, a premier Germany-based private aviation operator.
The proposed strategic investment is intended to support TransMedics' ongoing efforts to replicate the successful U.S. NOP and logistics model by building a dedicated organ transplantation air and ground logistics network in Europe in support of its OCS™ perfusion platform and clinical services, with the goal of expanding access to donor organs and increasing transplant volumes for patients in need across the European Union.
"Building a dedicated transplant air logistics network in Europe is a necessary first step to supporting our European NOP strategy to bring the full benefits of our OCS technology and integrated logistics model to European patients in need of transplantation. We are already actively building our presence in Italy and our sights are set on expanding access to donor organs and increasing transplant volumes for patients across Europe over time. We look forward to working with the PAD team to advance this vision over the years ahead," said Waleed Hassanein, M.D., President and Chief Executive Officer of TransMedics.
The proposed strategic investment is subject to the satisfaction of closing conditions specified in the definitive agreement between the parties (the "Agreement") as well as applicable regulatory conditions. TransMedics expects the transaction to close later in 2026 but can provide no assurance that the proposed transaction will be consummated. Financial terms are not being disclosed.
About PAD Aviation service GmbH
PAD Aviation is a leading European business aviation operator, independent of commercial airlines. The company operates from its 24/7 hub in Paderborn, Germany, offering maximum flexibility—particularly for time-critical missions such as organ transport. From its centrally located base, PAD Aviation's aircraft can rapidly reach destinations across Europe. The company operates a modern fleet, including nine Embraer Phenom 300 aircraft, and employs more than 40 highly trained and type-rated pilots. PAD Aviation holds a valid EASA Air Operator Certificate (AOC).
About TransMedics Group, Inc.
TransMedics is the world's leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. Headquartered in Andover, Massachusetts, the company was founded to address the unmet need for more and better organs for transplantation and has developed technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs for the treatment of end-stage heart, lung, and liver failure.
Forward-Looking Statements
This press release contains forward-looking statements. These forward-looking statements address various matters, including, among other things, the proposed strategic investment in PAD Aviation pursuant to the Agreement and the expected timing and consummation thereof; the anticipated benefits of the proposed strategic investment, including the establishment of dedicated air logistics infrastructure to support the OCS and NOP platforms in the European Union; our strategy of replicating our U.S. NOP model in Europe, including through dedicated air and ground logistics; the expected role of the aviation licensing, certifications, and operational infrastructure in supporting the European NOP; our ongoing commercial operations in Italy; and our broader international expansion plans and the costs related thereto. For this purpose, all statements other than statements of historical facts are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "could," "target," "predict," "seek" and similar expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to a number of risks and uncertainties. Management cannot predict all risks, nor can we assess the impact of all factors or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in or implied by any forward-looking statements we may make. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated in or implied by the forward-looking statements. Some of the key factors that could cause actual results to differ include: risks and uncertainties related to the pending strategic investment in PAD Aviation, including the occurrence of any event, change or other circumstance that could give rise to the termination of the Agreement; the risk that conditions to closing of the transaction are not obtained in a timely manner or at all; the effects of the transaction (or the announcement or pendency thereof) on relationships with associates, customers, manufacturers, suppliers, employees, other business partners or governmental entities; transaction costs; the risk that the transaction will divert management's attention from TransMedics' ongoing business operations or otherwise disrupts TransMedics' ongoing business operations; risks related to the ability to integrate PAD Aviation with TransMedics, including retaining key employees; risks related to operating an aviation business; risks related to the ability to further grow and enhance the National OCS Program; and other factors described in TransMedics' filings with the Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" in TransMedics' Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 24, 2026, and comparable disclosure in our subsequent filings with the SEC. The forward-looking statements in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and we are not able to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.
Investor Contact:
Brian Johnston
Gilmartin Group
Investors@transmedics.com
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