TransMedics is a medical technology company focused on the organ transplant industry. TransMedics’ entire business is built around its Organ Care System (“OCS”), a portable, perfusion-based device designed to keep donated organs alive and functioning outside the human body until they reach their recipients. According to TransMedics, by keeping organs viable for longer than traditional cold storage, the OCS expands the pool of available organ donors for transplant patients and improves outcomes. Roughly 90% of TransMedics’ business comes from its products designed for heart and liver transplants.
According to the lawsuit, Defendants throughout the class period made false and/or misleading statements and/or failed to disclose that: (1) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (2) TransMedics engaged in unsafe practices and hid safety issues and generally lacked safety oversight; (3) the foregoing subjected TransMedics to heightened risk of scrutiny and regulatory risk; and (4) as a result, Defendants’ statements about TransMedics’ business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On May 22, 2025, the United States District Court for the District of Massachusetts appointed the Peace Officers’ Annuity and Benefit Fund of Georgia and Oguzhan Altun as Lead Plaintiff and Saxena White P.A. as Co-Lead Counsel.
On August 8, 2025, Lead Plaintiffs filed a consolidated class action complaint. On October 7, 2025, Defendants filed a motion to dismiss the consolidated complaint. On November 21, 2025, Lead Plaintiffs filed their opposition to the motion to dismiss, and on December 22, 2025, Defendants filed their reply. The Court set a hearing on the motion to dismiss for June 10, 2026.
