ANDOVER,
Mass., Dec. 2, 2024 /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 announced the
appointment of Mr. Gerardo Hernandez
as the Company's Chief Financial Officer, effective December 2, 2024. In this role, Mr. Hernandez
joins the TransMedics executive leadership team, succeeding Mr.
Stephen Gordon. To enable a smooth
transition, Mr. Gordon will remain a non-executive employee of the
Company until March 31, 2025, before
serving as a non-employee senior advisor to the Company focusing on
national transplant stakeholder engagement until March 31, 2026. TransMedics also updated its 2024
financial outlook.
Dr. Waleed Hassanein, Mr.
Gerardo Hernandez and Mr.
Stephen Gordon will attend the
upcoming Piper Sandler Conference on December 3, 2024, the TransMedics Investor &
Analyst Day on December 10, 2024, as
well as the J.P. Morgan Healthcare Conference in January 2025.
Mr. Hernandez is an accomplished finance leader with over 25
years of experience across the healthcare and consumer packaged
goods (CPG) sectors. He most recently served as Vice President
Finance, Head of Corporate Financial Planning and Analysis at
Alnylam Pharmaceuticals, a biopharmaceutical company focused on
RNAi therapeutics. In this role, Mr. Hernandez led a global team as
the company scaled rapidly. Prior to his role at Alnylam, Mr.
Hernandez spent nearly a decade at Shire, where he rose through the
organization, eventually leading corporate FP&A. During his
tenure, Shire was acquired by Takeda in a $62 billion transaction, after which he was
instrumental in the integration effort. Mr. Hernandez began his
career at Unilever where he held several finance roles of
increasing responsibility before joining Shire in 2010. Mr.
Hernandez holds a Bachelor of Science degree in Finance from the
University of Wisconsin, La Crosse and an MBA in Strategy and Economics
from Fundação Getulio Vargas,
Sao Paulo, Brazil.
"Stephen has been an exceptional partner to me as a member of
the TransMedics leadership team for nearly a decade. During his
tenure we transitioned the Company from a clinical stage
organization to a high growth, publicly traded commercial
business," said Waleed Hassanein,
M.D., President and Chief Executive Officer. "On behalf of the
entire management team and the Board, I want to thank Stephen for
his countless contributions to our business that will have lasting
benefits for the Company. I am grateful for Stephen's
dedication and efforts to advance our corporate strategy while
delivering considerable shareholder value, and I look forward to
his continued partnership to affect a smooth transition as we start
our next chapter at TransMedics."
"I am delighted to welcome Gerardo to the TransMedics leadership
team as our new Chief Financial Officer," added Dr. Hassanein. "His
proven record over two decades of leadership across FP&A
functions within high-growth, complex global organizations makes
him an ideal addition to our team. I am looking forward to
partnering with Gerardo as we continue to deliver significant
long-term corporate growth and shareholder value."
"I am thrilled to join TransMedics as Chief Financial Officer,"
said Mr. Hernandez. "I look forward to working with the entire
leadership team to expand access to the Company's unparalleled
products and services in the organ transplant field while enhancing
operational efficiency and delivering lasting value to both our
shareholders and the patients we serve."
Dr. Hassanein concluded, "As we enter the final weeks of the
fourth quarter, we are also updating our financial outlook for the
full year 2024. Our updated guidance reflects our continued
expectation for considerable year-over-year revenue growth. We look
forward to providing additional context at our upcoming Investor
& Analyst Day."
2024 Financial Outlook
TransMedics now expects revenue for the full year 2024 to be
in the range of $428 million to $432 million, which
represents 77% to 79% growth compared to the Company's prior year
revenue.
Piper Sandler 36th Annual
Healthcare Conference
Members of the TransMedics management
team will participate in a fireside chat at the upcoming
Piper Sandler 36th Annual Healthcare
Conference at the Lotte New York Palace. The fireside chat will
take place on Tuesday, December 3,
2024, at 4:00 p.m. Eastern
Time.
A live and archived webcast of the fireside chat 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.
TransMedics Investor & Analyst Day
Details
TransMedics will discuss the transition and updated
financial outlook, as well as the Company's growth strategy,
clinical pipeline, and operations, in greater detail at its
Investor & Analyst Day in New York
City on Tuesday, December 10,
2024, at 10:00 a.m. Eastern
Time.
A live and archived webcast of presentations and Q&A
sessions will be available on the "Investors" section of the
TransMedics website at
https://investors.transmedics.com. Please note management will
only take questions from the live audience during the
question-and-answer session following formal presentations.
About TransMedics Group, Inc.
TransMedics is the
world's leader in portable extracorporeal warm perfusion and
assessment of donor organs for transplantation. Headquartered in
Andover, Massachusetts, the
company was founded to address the unmet need for more and better
organs for transplantation and has developed technologies to
preserve organ quality, assess organ viability prior to transplant,
and potentially increase the utilization of donor organs for the
treatment of end-stage heart, lung, and liver failure.
Forward-Looking Statements
This press release
contains forward-looking statements with respect to, among other
things, a leadership transition and our full-year guidance. For
this purpose, all statements other than statements of historical
facts are forward-looking statements. The words "believe," "may,"
"will," "estimate," "continue," "anticipate," "intend," "expect,"
"should," "could," "target," "predict," "seek" and similar
expressions are intended to identify forward-looking statements.
These forward-looking statements are subject to a number of risks
and uncertainties. Our management cannot predict all risks, nor can
we assess the impact of all factors or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in or implied by any
forward-looking statements we may make. In light of these risks and
uncertainties, the forward-looking events and circumstances
discussed in this press release may not occur and actual results
could differ materially and adversely from those anticipated in or
implied by the forward-looking statements. Some of the key factors
that could cause actual results to differ include: our ability to
maintain profitability on a sustained basis; our ability to
attract, train and retain key personnel; our existing and any
future indebtedness, including our ability to comply with
affirmative and negative covenants under our credit agreement to
which we will remain subject until maturity; the fluctuation of our
financial results from quarter to quarter; our need to raise
additional funding and our ability to obtain it on favorable terms,
or at all; our ability to use net operating losses and research and
development credit carryforwards; our dependence on the success of
the Organ Care System or OCS; our ability to expand access to the
OCS through our National OCS Program or NOP; our ability to scale
our manufacturing and sterilization capabilities to meet increasing
demand for our products; the rate and degree of market acceptance
of the OCS; our ability to educate patients, surgeons, transplant
centers and private and public payors on the benefits offered by
the OCS; our ability to improve the OCS platform and develop the
next generation of the OCS products; our dependence on a limited
number of customers for a significant portion of our revenue; our
ability to maintain regulatory approvals or clearances for our OCS
products in the United
States, the European Union, and other select
jurisdictions worldwide; our ability to adequately respond to
the Food and Drug Administration or FDA, or other
competent authorities, follow-up inquiries in a timely manner; the
performance of our third-party suppliers and manufacturers; our use
of third parties to transport donor organs and medical personnel
for our NOP and our ability to maintain and grow our logistics
capabilities to support our NOP and reduce dependence on third
party transportation, including by means of attracting, training
and retaining pilots, and the acquisition, maintenance or
replacement of fixed-wing aircraft for our aviation transportation
services or other acquisitions, joint ventures or strategic
investments; our ability to maintain Federal Aviation
Administration or FAA or other regulatory licenses
or approvals for our aircraft transportation services; price
increases of the components of our products and maintenance, parts
and fuel for our aircraft; the timing or results of post-approval
studies and any clinical trials for the OCS; our manufacturing,
sales, marketing and clinical support capabilities and strategy;
attacks against our information technology infrastructure; the
economic, political and other risks associated with our foreign
operations; our ability to protect, defend, maintain and enforce
our intellectual property rights relating to the OCS and avoid
allegations that our products infringe, misappropriate or otherwise
violate the intellectual property rights of third parties; the
pricing of the OCS, as well as the reimbursement coverage for the
OCS in the United States and internationally; regulatory
developments in the United States, European
Union and other jurisdictions; the extent and success of
competing products or procedures that are or may become available;
our ability to service our 1.50% convertible senior notes, due
2028; the impact of any product recalls or improper use of our
products; our estimates regarding revenues, expenses and needs for
additional financing; and other factors that may be described in
our filings with the Securities and Exchange
Commission (the "SEC"). Additional information will be made
available in our annual and quarterly reports and other filings
that we make with the SEC. The forward-looking statements in
this press release speak only as of the date of this press release.
Factors or events that could cause our actual results to differ may
emerge from time to time, and we are not able to predict all of
them. We undertake no obligation to update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by applicable
law.
Investor Contact:
Brian
Johnston
Laine Morgan
332-895-3222
Investors@transmedics.com
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SOURCE TransMedics Group, Inc.