TransMedics Group Inc. (NASDAQ: TMDX) announced it has entered into a definitive agreement to invest in PAD Aviation service GmbH, a Germany-based private aviation operator, according to a company press release.

The medical technology company said the strategic investment is intended to establish a dedicated organ transplantation air and ground logistics network in Europe to support its OCS perfusion platform and clinical services. TransMedics aims to replicate its U.S. National OCS Program model in Europe.

PAD Aviation operates from a hub in Paderborn, Germany, with a fleet that includes nine Embraer Phenom 300 aircraft and more than 40 pilots. The company holds a valid EASA Air Operator Certificate.

"Building a dedicated transplant air logistics network in Europe is a necessary first step to supporting our European NOP strategy to bring the full benefits of our OCS technology and integrated logistics model to European patients in need of transplantation," said Waleed Hassanein, TransMedics' president and chief executive officer.

The proposed transaction is subject to closing conditions specified in the agreement and applicable regulatory approvals. TransMedics expects the transaction to close later in 2026 but noted it cannot provide assurance the deal will be completed. Financial terms were not disclosed.

TransMedics is currently building its presence in Italy as part of its European expansion strategy. The company develops portable extracorporeal warm perfusion technology for preserving and assessing donor organs for transplantation.