TransMedics Appoints Stephanie Lovell to Board of Directors

Rhea-AI Summary

TransMedics Group appointed Stephanie Lovell to its Board of Directors and the Nominating and Corporate Governance Committee, effective March 22, 2021. With over 30 years of experience in healthcare management and legal affairs, she currently serves as Executive Vice President and Chief Legal Officer for Blue Cross Blue Shield of Massachusetts. Lovell's expertise is expected to enhance TransMedics' strategy in the U.S. transplant market. The company aims to improve organ transplantation outcomes through innovative technologies that increase donor organ utilization.

Positive

• Appointment of Stephanie Lovell is expected to enhance corporate governance.
• Lovell's extensive experience in healthcare and legal affairs may facilitate strategic initiatives.

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• None.

ANDOVER, Mass., March 24, 2021 /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, announced today the appointment of Stephanie Lovell to its Board of Directors and as a member of the Nominating and Corporate Governance Committee, effective March 22, 2021.

Ms. Lovell brings over 30 years of healthcare executive management, legal and board experience in both the public and private sectors. Ms. Lovell is the Executive Vice President, Medicare and Chief Legal Officer for Blue Cross Blue Shield of Massachusetts, the largest private health plan in Massachusetts, where she leads the company's Medicare business and government and regulatory affairs functions. Prior to this role, Ms. Lovell was Senior Vice President of Administration and General Counsel for Boston Medical Center. Previously, she was First Assistant Attorney General in the Office of the Attorney General for the Commonwealth of Massachusetts. Ms. Lovell is currently on the board of Cyclerion Therapeutics, Inc. (NASDAQ: CYCN), and she serves on the boards of several non-profit organizations. She holds a bachelor's degree from Hamilton College and a J.D. from Boston University School of Law.

"I am thrilled to welcome Stephanie to our board of directors. Her experience is complementary to our current directors, and we expect her insights to be instrumental in shaping our commercial payors' strategy and furthering our commercial reach in the U.S. transplant market," said Waleed Hassanein, MD, President and Chief Executive Officer. "I am looking forward to Stephanie's contributions as we continue to advance transplant therapy and drive TransMedics' success."

"TransMedics is committed to improving people's lives through its transformational work in organ transplantation," said Ms. Lovell. "I look forward to working alongside my fellow directors and company management to build upon this commitment and TransMedics' position as a leading innovator in the transplant space."

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 relating to the future growth of TransMedics and the potential of our technologies to increase the utilization of donor organs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions. These risks and uncertainties include those identified under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, which is available on the SEC's website at www.sec.gov. Additional information will be made available by our annual and quarterly reports and other filings that we make from time to time with the SEC. These forward-looking statements 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 it is not possible for us 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.

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SOURCE TransMedics Group, Inc.

FAQ

Who is Stephanie Lovell and what role will she play at TransMedics?

Stephanie Lovell has been appointed to the Board of Directors and Nominating and Corporate Governance Committee, bringing over 30 years of healthcare and legal experience.

What is the significance of Stephanie Lovell's appointment for TransMedics?

Her appointment is expected to strengthen the company's strategy in the U.S. transplant market and enhance corporate governance.

When did Stephanie Lovell's appointment to the Board of Directors take effect?

Her appointment became effective on March 22, 2021.

What is TransMedics Group's main focus in organ transplantation?

TransMedics focuses on advancing organ transplant therapy through innovative technologies that improve the quality and utilization of donor organs.