TransMedics Acquires Warm Perfusion EVOSS™ and Cold Perfusion LifeCradle® Technologies from Bridge to Life

Rhea-AI Summary

TransMedics Group, Inc. (TMDX) has acquired assets and intellectual property related to the Ex-Vivo Organ Support System (EVOSS) and LifeCradle Heart Preservation Transport System from Bridge to Life Ltd. This acquisition aims to expand TransMedics' product offerings and indications for organ transplantation, positioning the company to capitalize on strategic opportunities and maintain its global leadership position in the field.

ANDOVER, Mass., Aug. 2, 2023 /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 that is has acquired from Bridge to Life Ltd. ("Bridge to Life"), assets and intellectual property related to the Ex-Vivo Organ Support System ("EVOSS") and LifeCradle Heart Preservation Transport System ("LifeCradle") technologies. EVOSS is a warm perfusion technology designed for lung and heart transplantation and LifeCradle is a cold perfusion technology designed for heart transplantation. TransMedics intends to further develop these technologies as the company seeks to expand its product offerings and indications for organ transplantation.

"We are excited for the opportunity to further develop these innovative technologies and incorporate them into our Next-Generation OCS technology platform," said Waleed Hassanein, MD, President and Chief Executive Officer. "This acquisition positions us to capitalize on significant strategic opportunities to expand our product offering, add new clinical indications, further enhance the National OCS Program (NOP) offering, and maintain our global leadership position in the organ transplant field."

Canaccord Genuity LLC acted as financial advisor to TransMedics. Piper Sandler & Co. acted as financial advisor to Bridge to Life. Ropes & Gray LLP acted as legal advisor to TransMedics. Cooley LLP acted as legal advisor to Bridge to Life.

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 with respect to, among other things, TransMedics' plans for the development of the EVOSS and LifeCradle technologies; the expansion of TransMedics' product offering and addition of new clinical indications; TransMedics' ability to further enhance its National OCS Program offering. These forward-looking statements are subject to a number of risks and uncertainties. Our management cannot predict all risks, nor can we assess the impact of all factors on 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. Factors that could cause actual results to differ materially include: risks and uncertainties related to the development of the EVOSS and LifeCradle technologies, including the ability to integrate the technologies into the next generation OCS; the risk that we may not be able to realize the expected benefits of the acquisition of the EVOSS or LifeCradle technologies; risks related to the ability to further grow and enhance the National OCS Program; and other factors described in our filings with the Securities and Exchange Commission (the "SEC"), including under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 27, 2023, Quarterly Report on Form 10-Q for the period ended March 31, 2023 filed with the SEC on May 4, 2023, and comparable disclosure in our subsequent filings with the SEC. We will make information available in our annual and quarterly reports and other 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
332-895-3222
Investors@transmedics.com 

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SOURCE TransMedics Group, Inc.

FAQ

What did TransMedics acquire from Bridge to Life Ltd. and what are the technologies related to?

TransMedics acquired assets and intellectual property related to the Ex-Vivo Organ Support System (EVOSS) and LifeCradle Heart Preservation Transport System from Bridge to Life Ltd. EVOSS is a warm perfusion technology designed for lung and heart transplantation, while LifeCradle is a cold perfusion technology designed for heart transplantation.

What are the strategic opportunities that TransMedics aims to capitalize on with this acquisition?

TransMedics aims to expand its product offering, add new clinical indications, further enhance the National OCS Program (NOP) offering, and maintain its global leadership position in the organ transplant field.

Who acted as financial advisors to TransMedics and Bridge to Life in this acquisition?

Canaccord Genuity LLC acted as financial advisor to TransMedics, while Piper Sandler & Co. acted as financial advisor to Bridge to Life.

Who acted as legal advisors to TransMedics and Bridge to Life in this acquisition?

Ropes & Gray LLP acted as legal advisor to TransMedics, and Cooley LLP acted as legal advisor to Bridge to Life.