Overview
TransMedics Group, Inc. is a medical-technology company focused on organ transplantation. Its Organ Care System (OCS) is a portable platform that preserves donor organs in a functioning-like state outside the body; the company’s product portfolio serves heart, lung, and liver transplantation. Its U.S. National OCS Program combines organ retrieval, OCS services, and transport logistics for transplant centers.[1][2][3]
The company’s stated purpose centers on increasing organ utilization, improving transplant outcomes, and reducing the cost of transplantation. Its operations are centered in the United States, with commercial, distribution, and research and development activities in Europe and OCS use at institutions worldwide.[4][2][5]
TransMedics reported 898 employees worldwide as of December 31, 2025. Revenue was $605.5 million for full-year 2025; for the six months ended June 30, 2026, it reported $363.9 million in total revenue.[6][7] [1][2][3][4][5][6][7][4][5]
Products & services
TransMedics’ Organ Care System (OCS) is a portable, multi-organ warm-perfusion platform that circulates warm, oxygenated, nutrient-enriched blood through donor organs in a near-physiologic environment. The system is designed to preserve, monitor and support organ assessment during transport; its organ-specific operation can keep lungs breathing, hearts beating and livers producing bile.[8][9]
The company’s marketed systems are OCS Lung, OCS Heart and OCS Liver, approved for both donation after brain death and donation after circulatory death organs. The product offering includes organ-specific OCS Consoles and single-use disposable sets, comprising a Perfusion Set and OCS Solution; a new disposable set is used for each procedure, and consoles may be sold or loaned.[10][11][12] OCS Kidney is in development, with the company describing plans for a smaller, automated platform with remote monitoring to support longer preservation and functional assessment.[13]
The U.S. National OCS Program (NOP) provides organ-procurement and transplant-logistics services, including OCS perfusion management, trained clinical and procurement personnel, aviation and ground transport, and mission coordination.[9][2][3] For the six months ended June 30, 2026, product revenue was $219.1 million—about 60.2% of total revenue—and service revenue was $144.8 million, or about 39.8%; these figures distinguish products from services, not sales of individual OCS products.[7] [8][9][10][11][12][13][2][3][7][7][7]
Geographic presence
TransMedics had distribution, commercial and research-and-development operations in Europe, as well as a U.S.-based team supporting its National OCS Program. Its filings describe international regulatory coverage—including CE marking in the European Union and Health Canada licenses for OCS Heart, Lung and Liver—but do not enumerate all countries where products were sold.[6][14]
At December 31, 2025, the company’s headquarters, manufacturing and clinical-training facilities were in Andover, Massachusetts. Its other identified U.S. locations included an aircraft hangar, training and office site in Bozeman, Montana; an aircraft-maintenance hub in Dallas, Texas; and additional offices and hangars supporting the National OCS Program. It also reported European operations. In January 2026, TransMedics leased a future headquarters and research, development, laboratory and manufacturing site in Somerville, Massachusetts, with a transition expected by January 1, 2028.[15][6][16]
The company reported 898 employees worldwide at year-end 2025, most of whom were full-time and located in the United States; it did not provide a regional employee breakdown. Its FY2025 filing reported total revenue of $605.5 million but no country- or region-level revenue split; the latest available quarterly filing, for the quarter ended June 30, 2026, likewise did not provide a geographic revenue breakdown.[6][12]
TransMedics has also described plans to develop European organ-transport infrastructure, including four proposed Italian hubs in Milan, Rome, Padua and Bari, and announced a strategic investment in Germany-based PAD Aviation in July 2026.[17][18] [6][14][15][12][16][17][18]
Business segments
TransMedics Group reports one operating and reportable segment, representing 100% of consolidated revenue. The segment encompasses its organ-transplant technology and related services; the company does not report Heart, Lung, Liver, NOP, or geographic operations as separate segments.[19][20]
As supplemental revenue categories—not reportable segments—product revenue was approximately 60% and service revenue approximately 40% in the first half of 2026. Product revenue is primarily from organ-specific disposable sets used with OCS consoles; service revenue relates to organ procurement, OCS perfusion management, and transplant logistics through the National OCS Program (NOP).[7][10][11] [19][20][7][10][11]
Company history
TransMedics, Inc. was incorporated in Delaware in August 1998, and its filings identify Waleed H. Hassanein, M.D., as the company’s founder. In 2016, the company announced the first human liver transplant using its OCS Liver system and the start of a U.S. pivotal trial.[21][22][23] In 2018, the FDA approved OCS Lung for standard double-lung transplantation; that year, TransMedics Group, Inc. was incorporated as the parent entity in connection with the planned IPO.[24][21] The company went public on Nasdaq in May 2019, and later that year reported the first U.S. adult heart transplants using OCS with hearts from DCD donors.[25][26]
In 2021, the FDA approved OCS Heart and OCS Liver, and TransMedics launched its National OCS Program, combining its devices with organ procurement, perfusion-management, and logistics services.[27][28][29][30] FDA approval for OCS Heart was expanded to include DCD hearts in 2022.[31] In 2023, the company acquired Summit Aviation and Northside Property Group, expanding its transportation capabilities, and acquired certain perfusion-technology assets from Bridge to Life and Tevosol.[32][33][34][35] Its 2025 Form 10-K reported FDA investigational-device-exemption approvals for next-generation OCS Heart and OCS Lung trials in 2025 and January 2026, respectively.[36] [21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][23][24][25][26][27][28][31][34][35]
Sources
- TransMedics Group, Inc. — Full financial report (2025 Y)
- www.transmedics.com[4]
- www.transmedics.com[5]
- TransMedics Group, Inc. — Full financial report (2026 Q 2)
- investors.transmedics.com[16]
- investors.transmedics.com[17]
- investors.transmedics.com[18]
- TransMedics Group, Inc. — Full financial report (2024 Y)
- www.transmedics.com[23]
- www.transmedics.com[24]
- www.transmedics.com[25]
- www.transmedics.com[26]
- www.sec.gov[27]
- www.prnewswire.com[28]
- www.fda.gov[31]
- investors.transmedics.com[34]
- www.prnewswire.com[35]
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