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BOSTON–(BUSINESS WIRE)–CIBC Innovation Banking is pleased to announce new debt financing for Massachusetts TransMedics Group, Inc. (“TransMedics”), a market-leading medical technology company focused on organ transplantation therapy for patients with lung disease, end-stage heart disease and liver failure. TransMedics plans to use the additional growth capital to accelerate its business momentum, helping to increase transplant volume and improve clinical outcomes.
Founded in 1998, TransMedics was created to meet the need for more donor organs. The society has developed a national Organ Care System (OCS) program focused on setting a new standard of care by addressing the limitations of cold storage when transporting donor organs.
“We are pleased to have secured non-dilutive debt financing, allowing us to draw down our existing credit facility while providing TransMedics with additional financial flexibility to continue to scale the business,” said Waleed Hassanein, MD, President and CEO, TransMedics. “We look forward to working with CIBC Innovation Banking over the long term as we continue to grow our market presence.”
“CIBC Innovation Banking is proud to support TransMedics in its quest to transform the standard of care for organ transplantation,” said Joe Hammer, North American Co-Head of Life Sciences and Healthcare, CIBC Innovation banking. “We are thrilled to work with the leadership team as they grow and help save lives around the world.”
About CIBC Innovation Banking
CIBC Innovation Banking provides strategic advice, cash management and financing to innovative companies in North America, the UK and selected European countries at every stage of their business cycle, from start-up to IPO and beyond. of the. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong collaborative approach that spans to all of CIBC’s commercial banking services. and capital markets firms in the United States, Canada, United Kingdom and certain European markets.
About TransMedics Group, Inc.
TransMedics is the world leader in portable extracorporeal warm infusion and donor organ evaluation for transplantation. Based in Andover, Mass., 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 transplantation and potentially increase the use of donor organs for the treatment of end-stage heart, lung and liver failure.
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