TransMedics Group

Preserves and assesses donor hearts, lungs, and livers outside the body using OCS Heart, OCS Lung, and OCS Liver, portable warm perfusion systems. Revenue comes from organ-specific single-use perfusion sets and solutions, consoles, and National OCS Program services. NOP supplies outsourced organ retrieval, perfusion management, and air and ground logistics to transplant centers, with owned aircraft supporting the U.S. network.

Commercial activity is concentrated in the United States, while international customers mainly buy systems directly and European NOP logistics are expanding through Italy and an investment in Germany-based PAD Aviation. Execution combines regulated devices, recurring disposables, trained procurement and clinical teams, and time-sensitive transport. The model depends on FDA approvals, hospital adoption and reimbursement, single-source supplies, and aviation licenses and capacity.