Multi-billion Dollar Medical Technology Company Taking Up Permanent Somerville Residence

SOMERVILLE, MA — A large-scale organ transplant worth nearly $5 billion is making the city its new home.

TransMedics Group, Inc. is relocating its global headquarters to Somerville, the office of Mayor Jake Wilson announced this week. The Andover-based company was founded in 1998 by Dr. Waleed Hassanein, and specializes in a perfusion chilling technology for organs that is used in favor of the traditional ice. Wilson estimates that the company’s presence will result in $75 million in new tax revenue and 900 new jobs throughout the next 10 years.

"This is a win for transplant patients, the Commonwealth, the company, and Somerville residents,” Wilson said. “Not only can Somerville offer room for TransMedics to grow their critical services, but the new tax revenues and an influx of good jobs will help fund City services and open doors for workers in Somerville and the region.”

Both state and city leadership provided incentive opportunities to TransMedics in order for it to agree to the relocation. Somerville supported the company’s expansion with an $18 million Tax Increment Financing agreement approved by the city council. Meanwhile, the Massachusetts Life Sciences Center also proposed a performance-based incentive package that includes tax incentives of up to $18 million tied to the creation of as many as 600 new jobs, workforce development, and equipment investments.

“It’s unusual to have a company with such diverse job opportunities across such a wide range of career paths from manufacturing to research and from entry level to advanced, so this offers opportunity across the board,” Wilson said. “It’s also so important to us that they are fully committed to connecting our students to internships, mentoring, and career paths as well.”

TransMedics is moving into the 500,000 square foot building at 188 Assembly Park Drive in Assembly’s Innovation Park. The property is owned by Biomed Realty. The space is 25 percent of Somerville’s vacant lab real estate. According to Wilson, the company’s lease agreement for the building includes a ten-year annual investment of $230,000 in the city’s public school district, police and fire departments, and STEM and robotic education programs.

The company will also invest an estimated $175 to $225 million to complete the facility buildout, with operations scheduled to begin by January 2028.

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