Organ Transplant Logistics Firm TransMedics Sued by Investor

TransMedics Group Inc. engaged in improper and unsafe practices in its organ procurement and transportation business, causing two sets of stock drops, an investor alleges in a proposed class action filed Friday.

TransMedics failed to disclose that it “used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue,” Merly Jewik says in a complaint filed in the US District Court for the District of Massachusetts.

The company also “engaged in unsafe practices and hid safety issues and generally lacked safety oversight,” Jewik says.

A letter by Rep. Paul Gosar (R-Ariz.) in February 2024 and a report by short-seller ...