TransMedics (Nasdaq:TMDX) today announced the closing of a strategic investment in PAD Aviation, a Germany-based aviation operator.
PAD Aviation serves as a European business aviation operator, independent of commercial airlines. It operates out of a 24/7 hub in Paderborn, Germany.
Andover, Massachusetts–based TransMedics says the 24/7 operation provides flexibility for time-critical missions such as organ transport. It said the investment marks a critical step in its ongoing efforts to replicate its OCS NOP model in Europe, expanding the adoption of its perfusion technology for organ transplants.
With the investment, TransMedics aims to establish a dedicated pan-European organ transplant air and ground logistics network. This move follows another European partnership inked with Mercedes for ground transport in Italy last year.
The company said PAD Aviation’s aircraft can rapidly reach destinations across Europe from its centrally located base. It operates a modern fleet, according to a news release, that includes nine Embraer Phenom 300 aircrafts. PAD Aviation also employs more than 40 highly trained, type-rated pilots.
“We are thrilled to partner with the PAD Aviation team and to welcome them to our TransMedics family. Together, we can create a significant opportunity to increase the utilization of precious donor organs to save more European transplant patients,” said Waleed Hassanein, president and CEO of TransMedics.
