TransMedics says claims made by Scorpion Capital ‘have no merit’

TransMedics (TMDX) Group addressed what we believe are inaccurate and misleading claims made in a short-seller report issued by Scorpion Capital on January 10. In response, the company issued the following statement: “We strongly believe that the claims made in the Scorpion Capital report have no merits, and were primarily intended to manipulate the market for financial gains. The report fails to accurately represent TransMedics’ business, technology, diverse culture and steadfast focus on delivering exceptional products and services to meet the needs of the global transplant community. We stand by the high integrity of our practices, our world-class team, our compliance with all applicable laws and our unwavering commitment to improving clinical outcomes in organ transplantation. Our OCS technology and NOP program have enabled over 7,000 organ transplants while allowing surgeons to confidently use donor organs that would have otherwise been unutilized due to historical technology and logistics limitations. Critically, our technology and services have driven an expansion in overall U.S. transplant volumes and exceptional post-transplant clinical outcomes for patients, which have been repeatedly validated across our extensive and unrivaled clinical data set.”