TransMedics registers for $86m IPO

TransMedics last week registered for an initial public offering worth more than $86 million for the organ transplant transportation system it developed. The Organ Care System is designed to keep donated hearts, lungs and livers in near-living condition until transplantation; the company touts it as the only such system designed for more than one organ. In Europe, the OCS Heart and OCS Lung devices are already on the market. A year ago the Andover, Mass.-based company won pre-market approval from the FDA for its OCS Lung transplant device for standard double-lung transplantation procedures. In an April 5 regulatory filing TransMedics said it aims to raise as much as $86.3 million in the IPO, but didn’t detail the number of shares it plans to float or their potential price. It plans trade the stock on the NASDAQ exchange under the “TMDX” symbol. TransMedics said it expects the FDA action over the next 18 months on the other PMAs it’s submitted, including one filed last August for unused donor lungs and another filed in December 2018 for currently utilized and un-utilized hearts donated after brain death. In the U.S. the OCS devices are reimbursed using existing billing codes, with Medicare and private payors covering their use in pivotal trials of all three organs and for OCS Lung after last year’s approval. “We believe these established channels will continue to facilitate commercial reimbursement for the OCS Lung and, if they are approved b...
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Funding Roundup Transplants Wall Street Beat transmedics Source Type: news