TransMedics Shares Drop 10% Following New CFO Appointment and Updated Guidance

ANDOVER, MA - TransMedics Group, Inc. (NASDAQ:TMDX), a pioneer in organ transplantation technology, announced today the appointment of Gerardo Hernandez as Chief Financial Officer (CFO). The company also released updated guidance that caused TMDX shares to drop by 10%.

Mr. Hernandez will succeed Stephen Gordon, who will transition to a senior advisory role focusing on national transplant stakeholder relationships until March 2026.

Mr. Hernandez brings over 25 years of financial expertise to TransMedics, having held leadership positions at Alnylam Pharmaceuticals and Shire. His experience spans the healthcare and consumer packaged goods sectors, and he has a proven track record of guiding companies through periods of rapid growth.

The company disclosed its financial outlook for full-year 2024, projecting revenues between $428 million and $432 million. This represents a 77% to 79% increase compared to the previous year, indicating strong growth, yet falling short of the previously stated range.

Dr. Waleed Hassanein, President and CEO of TransMedics, praised Mr. Gordon's role in the company's transition from a clinical-stage organization to a high-growth commercial enterprise. He also expressed enthusiasm about Mr. Hernandez's potential contributions to the company’s long-term growth and shareholder value.

The leadership team, including Mr. Hernandez and Mr. Gordon, will participate in several upcoming conferences, including the Piper Sandler Conference occurring today, the TransMedics Investor and Analyst Day on December 10, and the J.P. Morgan Healthcare Conference in January 2025.