The IPOX® Watch: TransMedics Group
COMPANY DESCRIPTION
Founded in 1998, TransMedics Group, Inc is a commercial-stage medical technology company headquartered in Andover, MA. TransMedics develops the FDA-approved, portable, multi-organ, warm perfusion platform - Organ Care System (OCS) to optimize, monitor, and preserve organ transplants. The company also develops a National OCS Program (NOP) to provide outsourced organ retrieval and organ procurement.
BUSINESS MODEL
TransMedics generates revenue from sales of its single-use OCS disposable set and OCS Consoles, as well as service revenue from outsourced organ retrievals and OCS organ management services.
IPO HISTORY
On 05/02/2019, TransMedics Group began trading on the NASDAQ Global Market led by Morgan Stanley. The organ preservation platform upsized 21% to offer 5,690,000 shares, at $16.00 per share, mid-point of its expected price range ($15-$17). TransMedics was valued at ca. $337 million at offer with the 15% over-allotment option fully exercised. The shares opened at $20.25 and closed the first day higher at $22.36 (+39.75%).
TransMedics Group, Inc was included in the IPOX® 100 U.S. Index (ETF: FPX US, FPX LN) on 09/19/2022 and has gained +58.71% since addition to the index.
