Business

TransMedics, a firm specializing in organ preservation technology, secures $36m

TransMedics Inc., an Andover-based firm focused on organ preservation technology, announced the closing of a $36 million financing round led by Abrams Capital with the participation of existing investors including Flagship Ventures, Hercules Technology Growth Capital, and Kleiner Perkins Caufield & Byers.

‘‘TransMedics is revolutionizing the field of solid organ preservation for transplantation and is well positioned to become the worldwide market leader,’’ Abrams Capital managing member David Abrams said in a statement.

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Dr. Waleed Hassanein, president and chief executive of TransMedics, added, ‘‘This financing enables us to complete our heart and lung FDA pivotal trials and expand our global commercial activities.’’

According to the company, its portable preservation technology maintains donor organs in a near-physiologic and functioning condition from donor to transplant recipient. 

Abrams Capital is a Boston-based investment firm that currently manages $5.7 billion.

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