TransMedics Responds to Inaccurate and Misleading Claims in Recent Short-Seller Report

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ANDOVER, Mass., Jan. 13, 2025 /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, today addressed what we believe are inaccurate and misleading claims made in a short-seller report issued by Scorpion Capital on January 10, 2025.

(PRNewsfoto/TransMedics, Inc.)
(PRNewsfoto/TransMedics, Inc.)

In response, the company issued the following statement:

We strongly believe that the claims made in the Scorpion Capital report have no merits, and were primarily intended to manipulate the market for financial gains. The report fails to accurately represent TransMedics' business, technology, diverse culture and steadfast focus on delivering exceptional products and services to meet the needs of the global transplant community.

We stand by the high integrity of our practices, our world-class team, our compliance with all applicable laws and our unwavering commitment to improving clinical outcomes in organ transplantation. Our OCS™ technology and NOP™ program have enabled over 7,000 organ transplants while allowing surgeons to confidently use donor organs that would have otherwise been unutilized due to historical technology and logistics limitations. Critically, our technology and services have driven an expansion in overall U.S. transplant volumes and exceptional post-transplant clinical outcomes for patients, which have been repeatedly validated across our extensive and unrivaled clinical data set.

TransMedics is engaged with our legal advisor at Kirkland & Ellis LLP to consider all available legal options.

"We are grateful for the support and trust of our clinical collaborators and users, OPO partners, donor families, and the transplant recipients we serve," said Waleed Hassanein, MD, President & Chief Executive Officer.  "We remain laser focused on executing our growth plans, including the launch of our next-gen OCS Heart and OCS Lung programs as well as several other strategic initiatives, in 2025. We look forward to discussing these initiatives and our business at the upcoming J.P. Morgan Healthcare Conference."

43rd Annual J.P. Morgan Healthcare Conference
Members of the TransMedics management team will present at the upcoming 43rd Annual J.P. Morgan Healthcare Conference. The presentation will take place on Monday, January 13, 2025, at 2:15 p.m. Pacific Standard Time.

A live and archived webcast of the presentation will be available on the "Investors" section of the TransMedics website at https://investors.transmedics.com/. The Company's standard investor presentation is also available through this link.