CIBC Innovation Banking Provides $60 Million Debt Financing to TransMedics Group Inc.
BOSTON, September 15, 2022--(BUSINESS WIRE)--CIBC Innovation Banking is pleased to announce a new debt financing for Massachusetts-based TransMedics Group, Inc. ("TransMedics"), a market leading medical technology company that focuses on organ transplant therapy for patients with end-stage lung, heart and liver failure. TransMedics plans to use the incremental growth capital to accelerate its commercial momentum, helping to grow transplant volume and improve clinical outcomes.
Founded in 1998, TransMedics was built to address the need for more donor organs. The company has developed a national Organ Care System (OCS) program focused on establishing a new standard of care by addressing the limitations of cold storage while transporting donor organs.
"We are pleased to have secured a non-dilutive debt financing, enabling us to retire our existing debt facility while providing TransMedics with incremental financial flexibility to continue to scale the business," said Waleed Hassanein, MD, President, and Chief Executive Officer, TransMedics. "We look forward to working with CIBC Innovation Banking long-term as we continue to grow our market presence."
"CIBC Innovation Banking is proud to support TransMedics in its pursuit to transform the standard of care for organ transplantation," said Joe Hammer, Co-Head North American Life Science and Healthcare, CIBC Innovation Banking. "We are excited to work with the management team as they scale and help save lives around the globe."
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. 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 extends across CIBC’s commercial banking and capital markets businesses in the U.S., Canada, the UK, and select European markets.
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.
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