TransMedics Group, Inc. (TMDX) Earnings Call Transcript & Summary

Good morning, and welcome to the 2021 Annual Meeting of Shareholders of TransMedics Group, Inc. I am Waleed Hassanein, President and Chief Executive Officer of the TransMedics Group. As I've stated publicly, 2021 is setting up to be a potentially transformative year for our business. We are advancing rapidly towards 2 major regulatory decisions on our OCS Heart and OCS Liver indications. That will have significant commercial ramification on our business and will fundamentally alter our long-term growth strategy. Our ultimate goal remains that we end 2021 with 3 approved transplant market indications in the United States, and we remain confident that this goal is attainable. I'm excited about and confident in the future of TransMedics as we continue to transform the field of organ transplantation using our Organ Care System technology platform. As always, we are grateful for our shareholders' support for our business. Once again, this year, we are hosting our annual meeting virtually. It is my distinct pleasure to welcome you and to introduce Mr. Jim Tobin, our Chairman of the Board.

Thank you, Waleed, and welcome, everyone. Thank you for joining us today. Shareholders attending via the web portal can access a copy of the agenda and the rules of procedure for today's meeting. You may ask questions regarding the proposals being voted on at this meeting in accordance with these rules. Please submit pertinent questions via the web portal. Questions will be answered prior to the opening of the polls. Although we may not be able to answer every question, we will do our best to provide a response to as many as possible. Please be aware that only shareholders of record on April 9, 2021, who entered the meeting using their 16-digit control number will be able to ask questions and vote in today's meeting. It is now 8:02 Eastern Time on May 27, 2021, and this meeting is officially called to order. And now I would like to introduce the other members of the Board attending our virtual meeting today. Dr. Waleed Hassanein has served as one of our directors since August 1998. He is currently President and CEO of TransMedics. Ed Basile has served as one of our directors since 2016. Tom Gunderson has served as one of our directors since 2016. Ed Kania has served as one of our directors since 2003. Stephanie Lovell has served as one of our directors since March of 2021. Merilee Raines served as one of our directors since January of 2021. And David Weill has served as one of our directors since 2019. Now it is my pleasure to introduce TransMedics' CFO and Corporate Secretary, Stephen Gordon. Stephen will act as secretary of the meeting. I will turn to him with any procedural issues that may arise.

Thank you, Jim. We are also joined here today by our independent auditors, PricewaterhouseCoopers, and by our outside legal counsel, Ropes & Gray LLP. And finally, the company has appointed Broadridge Financial Services to act as inspector of elections. Terence Hassett from Broadridge is with us today and has taken the oath of inspector of elections. The Board of Directors fixed April 9, 2021, as the record date for determining shareholders entitled to vote at this meeting. An affidavit of Broadridge has been delivered attesting to the fact that a notice of Internet availability of: one, the notice of the meeting; two; the proxy statement; and three, the 2020 annual report to shareholders was mailed commencing on April 16, 2021, to all shareholders as of the record date and will be incorporated into the minutes of this meeting. The shareholder list shows that, as of the record date, there were 27,622,821 shares of common stock outstanding and entitled to vote at this meeting. We are informed by the inspector of elections that they are represented in person or by proxy shares of common stock, representing 19,864,032 votes or approximately 72% of the voting power on the record date. Since this represents more than a majority of the shares of common stock entitled to vote at this annual meeting, a quorum is present for purposes of transacting business. Now I will present the matters to be voted upon. Please note that we will give shareholders an opportunity to comment on the proposals themselves after all proposals have been presented and before the polls open. TransMedics has not received notice from any of its shareholders as required under its amended and restated bylaws of any other matter to be considered at today's annual meeting. And therefore, no other proposals may be properly introduced by shareholders. Proposal 1 is the election of directors. For election as directors to hold office until the 2022 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified in accordance with our restated articles of organization and amended and restated bylaws or his or her earlier death, resignation or removal. The following 8 people have properly -- have been properly nominated by the Board: Waleed H. Hassanein, M.D.; James R. Tobin; Edward M. Basile; Thomas J. Gunderson; Edwin M. Kania, Jr.; Stephanie Lovell; Merilee Raines; David Weill, M.D. Proposal 2 is to ratify the appointment of PricewaterhouseCoopers LLP as the TransMedics Group Inc.'s independent registered public accounting firm for the fiscal year ending December 31, 2021. If any shareholder would like to make a comment or ask a question regarding either of the proposals or voting procedures, please submit your comment or question through the web portal. There have been no questions submitted. And so therefore, I'll turn the call back over to Jim Tobin.

Thank you. We will now proceed with voting. It is now 8:06 a.m. Eastern Time on May 27, 2021, and the polls are now open. Any shareholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Shareholders who have sent in proxies or voted via telephone or Internet and do not want to change their vote do not need to take any further action. [Voting]

That completes the voting on proposals before the shareholders, and I now declare the polls for the meeting closed.

Thank you, Jim. We have been informed by the inspector of elections that the preliminary vote report shows that the nominees for election to the Board have been duly elected and the appointment of PricewaterhouseCoopers as TransMedics Group Inc.'s independent registered public accounting firm for the fiscal year ending December 31, 2021, has been ratified. We will be reporting the final results -- the final vote results in a Form 8-K to be filed within 4 business days. With that, I turn the meeting back over to Jim Tobin, our Chairman of the Board.

Thank you, Stephen. There being no further business to come before the meeting, the 2021 Annual Meeting of Shareholders of TransMedics Group, Inc. is now adjourned. On behalf of the company, Board and members of management, I would like to express my sincere appreciation to the shareholders who attended this meeting. Thank you.