Strata Expands Critical Care Footprint with Ohio Valley Perfusion Buy

NEW YORK, NY – April 30, 2026 – Strata Critical Medical, Inc. (Nasdaq: SRTA) today announced the acquisition of Ohio Valley Perfusion Associates (OVPA), a specialized regional provider of perfusion services. The approximately $1 million deal marks another deliberate step in Strata’s strategy to consolidate the fragmented critical medical services market and deepen its clinical capabilities in key regions.

The acquisition brings OVPA’s team of eight highly trained and certified clinicians in Ohio and Pennsylvania under the Strata umbrella, strengthening the company's presence in a vital healthcare corridor. This move is expected to enhance support for cardiac surgery programs and expand access to advanced life-saving services.

A Strategic Bolt-On in a Fragmented Market

For Strata, the OVPA acquisition is a textbook example of its disciplined M&A strategy. After rebranding from Blade Air Mobility in 2025 to focus exclusively on its medical logistics and services business, the company has aggressively pursued what it calls a "roll-up opportunity" in the critical care sector. This involves acquiring smaller, regional players to expand its geographic footprint and service offerings.

Mat Schneider, CFO of Strata’s Clinical Services Division, framed the deal in stark financial terms. “This bolt on acquisition is a perfect fit with our existing clinical operations and M&A strategy while coming at an attractive mid-single digit multiple of EBITDA, consistent with our target valuation framework,” he stated. Schneider emphasized the appeal of the cardiac perfusion business, noting its “recurring revenue, multi-year contracts, [and] high customer retention.”

This small, tactical purchase aligns with Strata’s larger ambitions. The company made a significant move in September 2025 with the $124 million acquisition of Keystone Perfusion, a deal it called a "linchpin" of its investment thesis. With approximately $200 million in cash reportedly available for acquisitions through 2029, the OVPA deal demonstrates that Strata is executing its plan at both large and small scales, aiming to build a dominant national platform from a patchwork of regional experts.

Bolstering Lifesaving Care in the Ohio Valley

Beyond the balance sheet, the acquisition has significant implications for regional healthcare. OVPA provides essential services including perfusion—the operation of heart-lung machines during cardiac surgery—as well as advanced support like Extracorporeal Membrane Oxygenation (ECMO) for patients with severe heart or lung failure, and autotransfusion, which recycles a patient's own blood during surgery.

This expansion comes at a time when healthcare systems, particularly in states like Pennsylvania, are grappling with significant workforce shortages. The integration of OVPA’s eight clinicians into Strata's larger network provides immediate, specialized reinforcement for hospitals in Eastern Ohio and Western Pennsylvania.

“Expanding our presence in Eastern Ohio and Western Pennsylvania is an important step in strengthening Strata’s regional clinical platform,” said Louis Verdetto, CEO of Strata’s Clinical Services Division. He noted the acquisition allows Strata to “further leverage our team of highly trained perfusionists to support cardiac surgery programs while continuing to expand advanced services such as ECMO support and organ recovery.”

For the acquired team and the hospitals they serve, the partnership promises greater resources and stability. “Through our partnership with Strata, we will gain access to additional clinical resources, technology, and infrastructure that will enable us to expand our services and better support our hospital partners across the region,” said Richard Marcotte, Founder of Ohio Valley Perfusion Associates.

The Rising Demand for Perfusion Expertise

The acquisition shines a light on the increasingly vital, yet often overlooked, role of perfusionists. These clinicians are the unsung heroes of the operating room, managing the complex technology that keeps patients alive during open-heart surgeries, organ transplants, and other critical procedures. The demand for their expertise is growing, fueled by an aging population, a higher prevalence of cardiovascular diseases, and a surge in organ transplantation.

The global perfusion systems market, valued at over $1.15 billion in 2023, is projected to grow steadily in the coming years. This growth is driven by technological advancements and the expanding application of perfusion science. Techniques like Normothermic Regional Perfusion (NRP), which improves the viability of organs from donation after circulatory death, are revolutionizing transplantation and creating more need for skilled perfusion teams. Strata has noted that its own transplant-related activities have seen over 35% organic growth year-over-year, partly due to the increased adoption of NRP.

By investing in companies like OVPA and Keystone, Strata is not just acquiring contracts; it is securing a valuable and scarce resource: human expertise. The industry is evolving rapidly, with the advent of AI-driven analytics, personalized perfusion protocols, and remote ECMO management. By building a large, integrated team, Strata positions itself to lead this evolution, ensuring its clinicians are at the forefront of medical technology and patient care.

Navigating a Competitive and Evolving Landscape

Strata operates in a competitive field, with rivals ranging from large service providers like Comprehensive Care Services—which recently became the world's largest perfusion provider—to technology-focused companies like TransMedics Group, Inc. (TMDX), known for its proprietary organ preservation devices.

Strata, however, has carved out a unique position. It differentiates itself not as a device manufacturer but as an integrated logistics and clinical services provider, offering a "one call" solution for time-critical organ recovery and surgical support. This asset-light, service-oriented model allows it to remain agnostic to specific technologies, supporting whichever preservation device a hospital prefers while focusing on speed, efficiency, and clinical excellence.

This strategy appears to be paying off. The company has posted strong organic growth of 15% year-to-date, nearly four times the broader industry's transplant volume growth, indicating significant market share capture. With 2026 revenue guidance set between $255-270 million, Strata is demonstrating that its model of strategic acquisitions and integrated service delivery is a powerful engine for growth in the critical care economy.