TransMedics Group, Inc. has completed a strategic investment in PAD Aviation service GmbH to establish a dedicated organ transplantation air logistics network across Europe. The medical technology company, headquartered in Andover, Massachusetts, announced the closing of the transaction on July 6, 2026. This investment is a critical step for TransMedics to replicate its OCS NOP model in the European Union and expand the adoption of its OCS perfusion technology.

The partnership with PAD Aviation, a premier Germany-based private aviation operator, is designed to support transplant activities across the region. Waleed Hassanein, M.D., President and Chief Executive Officer of TransMedics, stated that the collaboration creates an opportunity to increase the utilization of donor organs to save more European transplant patients.

About PAD Aviation service GmbH

PAD Aviation was founded in 2006 and operates as a leading European business aviation operator independent of commercial airlines. The company manages its operations from a 24/7 hub located in Paderborn, Germany. This central location allows its aircraft to rapidly reach destinations throughout Europe, offering maximum flexibility for time-critical missions such as organ transport.

About TransMedics Group, Inc.

TransMedics is the world leader in portable extracorporeal warm perfusion and assessment of donor organs for transplantation. The company develops technologies to preserve organ quality, assess organ viability prior to transplant, and potentially increase the utilization of donor organs. Its focus is on treating end-stage heart, lung, and liver failure.

Stifel analyst Tom Stephan has maintained a Hold rating on TransMedics Group (NASDAQ: TMDX) and raised the price target to $80 from $75. The adjustment reflects a revised valuation outlook for the company.

The revised price target of $80 represents an increase from the previous target of $75. TransMedics Group continues to trade on the NASDAQ under the ticker symbol TMDX.