HIGHOutside partySupplier
third-party sterilization vendors
“10-K Item 1A: 'We rely on third-party vendors to sterilize our disposable sets prior to sale...we will not be able to sell products until we can retain an alternative vendor'”
TMDX · Concentration risk · 10-K extracted
TransMedics Group (TMDX) concentration risks
Updated
The most significant concentration TransMedics Group discloses is third-party sterilization vendors, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: TransMedics Group’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inProduct / Revenue mix
OCS Perfusion Sets and OCS Solutions
“10-K Item 1A: 'Our ability to generate product revenue and remain profitable depends primarily on sales of OCS Perfusion Sets and OCS Solutions, which we refer to collectively as disposable sets.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-03The company's disclosed concentration profile reflects two exposures that together describe a business where both manufacturing continuity and commercial revenue depend on a narrow operational foundation. The most acute is a high-share supply-chain dependency: the company relies on third-party vendors to sterilize its disposable sets prior to sale, and until an alternative vendor can be retained, the company will not be able to sell products. This is a high-share, dependency-character exposure — the language in the filing is unambiguous that a disruption to sterilization services would directly halt sales, with no disclosed contingency plan or qualified alternative in place. The dependency is structural to the current manufacturing configuration rather than a temporary arrangement. The commercial side of the profile is concentrated in a medium-share, structural way: the ability to generate product revenue and remain profitable depends primarily on sales of OCS Perfusion Sets and OCS Solutions — the disposable sets that are the subject of the sterilization dependency above. The structural character reflects that these products are the core of the organ perfusion technology platform; revenue diversification requires additional product approvals or market expansions that are not yet disclosed at comparable scale. The interaction between these two exposures is the key risk: the company's only material revenue source is a disposable product whose path to the customer runs through a sole sterilization vendor. A disruption to that vendor would simultaneously halt both product availability and revenue generation with no disclosed backstop, making the sterilization supply chain the most consequential single operational dependency in the profile.
For the engine’s reasoning on TMDX’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Devices
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AORT | Artivion, Inc. | 4 | 4 | 0 | 8 |
| ATEC | Alphatec Holdings, Inc. | 1 | 1 | 0 | 2 |
| TMDX● | TransMedics Group, Inc. | 1 | 1 | 0 | 2 |
| ABT | Abbott Laboratories | 1 | 0 | 0 | 1 |
| AXGN | AxoGen, Inc. | 0 | 0 | 0 | 0 |
| BIO | Bio-Rad Laboratories, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.