TransMedics Group acquired Summit Aviation, Inc. (and Northside Property Group, LLC) for approximately $14.9 million preliminary purchase consideration ($18.0 million upfront cash, net of cash acquired and working capital adjustments), a transaction completed in August 2023, structured as all cash.
Summit Aviation, Inc. (and Northside Property Group, LLC) operates in Transplant logistics / aviation transportation, is based in Bozeman, Montana, USA. Summit was a charter flight operator based in Bozeman, Montana. Its acquisition (together with Northside Property Group, LLC) let TransMedics establish TransMedics Aviation as the first integrated national provider of air logistics dedicated exclusively to organ transplantation in the U.S., adding aviation transportation services to its National OCS Program (NOP). The deal also conveyed a 20-year operating lease at Bozeman Yellowstone International Airport, where TransMedics is constructing a commercial aircraft hangar.
The acquisition represents a critical element of TransMedics strategy to build and manage a national transplant logistics network designed to expand the reach and coverage of the National OCS Program (NOP).
Gave TransMedics an in-house national air-logistics capability dedicated to organ transplantation, reducing dependence on third-party transportation providers for its NOP. Integration of charter aviation directly into the National OCS Program to provide comprehensive national donor-organ retrieval and delivery in the United States. TransMedics Aviation (Ben Walton appointed VP of Aviation Services) TransMedics FY23 10-K: "On August 16, 2023, the Company acquired Summit Aviation, Inc. and Northside Property Group, LLC ... Summit was a charter flight operator based in Bozeman, Montana. The acquisition enabled TransMedics to add aviation transportation services to its NOP and become a comprehensive national provider of donor organ retrieval and delivery in the United States."
We are delighted to complete the acquisition of Summit Aviation, which represents a critical element of TransMedics strategy to build and manage a national transplant logistics network designed to expand the reach and coverage of the National OCS Program (NOP). I want to take this opportunity to welcome the Summit team to the TransMedics team. I also want to welcome Ben Walton in his new role as VP of Aviation Services.Waleed Hassanein, MD, President and Chief Executive Officer, TransMedics
Advisory firms were not disclosed for this transaction.