TransMedics (NASDAQ: TMDX) inks $23.9M Somerville HQ lease agreement

Rhea-AI Filing Summary

TransMedics Group, Inc. has signed a long-term lease with BioMed Realty for approximately 498,286 square feet at 188 Assembly Park Drive in Somerville, Massachusetts, which will become its new headquarters and house research, development, lab, manufacturing, assembly, vivarium, office and related functions. The lease term begins on January 8, 2026, with base rent starting on the later of January 1, 2028 or 24 months after term commencement, and running for 192 months from that rent start date.

Initial annual base rent is approximately $23.9 million, increasing 2% each year over the initial term, and the company is expected to bear about 100% of operating and tax expenses for the premises. TransMedics has provided an approximately $18 million letter of credit as a security deposit and holds two 10-year extension options plus a six-month extension option, all subject to customary conditions. Separately, on January 8, 2026, the company acquired two parcels adjacent to the new site in Somerville for $15.0 million each, plus related costs.

Insights

Real estate and capital allocation analyst

TransMedics commits to a large, long-term HQ and R&D campus with meaningful fixed costs.

The company is locking in a substantial new facility of approximately 498,286 square feet in Somerville to serve as its future headquarters and major operating hub. The lease starts accruing base rent on the later of January 1, 2028 or 24 months from term commencement, with an initial annual base rent of about $23.9 million and a 2% annual increase over the 192‑month initial term.

TransMedics will also cover an estimated 100% share of operating and tax expenses for the premises and has provided a security deposit via an approximately $18 million letter of credit, which the landlord may draw upon in certain breach scenarios. In addition, the company purchased two adjacent parcels in Somerville for $15.0 million each, plus related costs, signaling a broader campus-style footprint. Future company filings may clarify how these long-term real estate commitments relate to expected growth and capacity needs.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 8, 2026

TransMedics Group, Inc.

(Exact name of Registrant as Specified in Its Charter)

Massachusetts		001-38891		83-2181531
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

200 Minuteman Road
Andover, Massachusetts		01810
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: (978) 552-0900

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, no par value per share		TMDX		The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On January 8, 2026, TransMedics Group, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with BioMed Realty (the “Landlord”) for the lease of approximately 498,286 square feet of space located at 188 Assembly Park Drive, Somerville, MA 02145 (the “Premises”) for the Company’s principal executive offices and for research and development, laboratory, manufacturing and assembly, vivarium, office and related uses. The commencement date of the Lease is January 8, 2026 (the “Delivery Date”). The Premises is expected to serve as the Company’s new headquarters beginning on or before January 1, 2028, replacing its existing headquarters at 200 Minuteman Road, Andover, Massachusetts 01810. Base rent accrues on the latter of: (a) January 1, 2028, and (b) the date that is twenty-four (24) months after term commencement date (but in no event later than February 1, 2028) (the “Rent Commencement Date”). The Lease will expire one hundred ninety-two (192) months from the Rent Commencement Date, unless earlier terminated (the “Initial Term”).

The annual base rent under the Lease will initially be approximately $23.9 million and will be subject to a 2% annual increase for each remaining year of the Initial Term. The Company will also be responsible for a pro rata share of the payment of additional rent to cover the Company’s share of the annual operating and tax expenses for the Premises, with the Company’s share estimated to be approximately 100%. The Company holds two consecutive options to extend the Initial Term for additional periods of ten years each, exercisable by written notice delivered not less than 18 months prior to the expiration of the then-current term and subject to customary conditions, including that no default then exists. The Company also holds an option to extend the Lease term for a period of six months, exercisable by written notice delivered not less than 18 months prior to the expiration of the then-current term and subject to customary conditions, including that no default then exists.

The Company has delivered a security deposit to the Landlord in the form of a letter of credit for approximately $18 million, which may be drawn down by the Landlord to be applied for certain purposes upon the Company’s breach of certain provisions under the Lease. The Lease also contains customary provisions allowing the Landlord to terminate the Lease if the Company fails to remedy a breach of any of its obligations within specified time periods, or upon bankruptcy or insolvency of the Company.

The foregoing description of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 8.01 Other Events

On January 8, 2026, the Company acquired two parcels adjacent to the Premises in Somerville, Massachusetts from BRE-BMR Assembly Innovation I LLC and BRE-BMR Middlesex LLC, respectively. The purchase price for each property was $15.0 million, plus related costs, title company expenses, and tax payments.

This Current Report on Form 8-K contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including, but not limited to, statements about the Company’s use of the Premises, as well as the timing. Each forward-looking statement is subject to risks and uncertainties that could cause actual events to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include the risks listed under the heading “Risk Factors” and elsewhere in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on October 29, 2025, the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 27, 2025, and in the Company’s subsequent Securities and Exchange Commission filings. These forward-looking statements (except as otherwise noted) speak only as of the date of this Current Report on Form 8-K, and the Company undertakes no obligation to update these forward-looking statements.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Description
10.1+		Lease Agreement, by and between TransMedics Group, Inc. and BioMed Realty, dated January 8, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

+ Certain schedules (or similar attachments) have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish such copies of such schedules (or similar attachments) to the U.S. Securities and Exchange Commission upon request.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						TRANSMEDICS GROUP, INC.
Date: January 12, 2026				By:		/s/ Gerardo Hernandez
						Name: Gerardo Hernandez Title: Chief Financial Officer and Treasurer

FAQ

What new headquarters lease did TransMedics (TMDX) enter into?

TransMedics entered into a lease with BioMed Realty for approximately 498,286 square feet at 188 Assembly Park Drive in Somerville, Massachusetts, to serve as its principal executive offices and for research, development, laboratory, manufacturing, assembly, vivarium, office and related uses.

When does TransMedics start paying base rent on the new Somerville facility?

Base rent begins on the later of January 1, 2028 or the date that is 24 months after the lease term commencement date, but in no event later than February 1, 2028, and the lease then runs for 192 months from that rent commencement date.

How much will TransMedics pay in base rent for the new headquarters?

The initial annual base rent is approximately $23.9 million, with a 2% annual increase for each remaining year of the initial 192‑month lease term. TransMedics is also responsible for an estimated 100% share of operating and tax expenses for the premises.

What security deposit did TransMedics provide under the lease?

TransMedics delivered a security deposit in the form of a letter of credit of approximately $18 million, which the landlord may draw for certain purposes if the company breaches specified lease provisions.

What adjacent properties did TransMedics (TMDX) purchase in Somerville?

On January 8, 2026, TransMedics acquired two parcels adjacent to the leased premises in Somerville, Massachusetts, from BRE-BMR Assembly Innovation I LLC and BRE-BMR Middlesex LLC for $15.0 million each, plus related costs, title company expenses and tax payments.

Does TransMedics have options to extend the new Somerville lease?

Yes. TransMedics holds two consecutive 10‑year options to extend the initial term, plus an option to extend the lease for an additional six months, all exercisable by advance written notice and subject to customary conditions, including absence of default.