Strata Critical Medical, Inc., announced that it has completed the acquisition of Louisville Perfusion Services, Inc. (“LPS”), a regional provider of perfusion and blood management services to cardiac surgery programs in Kentucky.

“The acquisition of Louisville Perfusion Services fits perfectly with our existing customer base in Kentucky and Ohio, giving us a new strategic stronghold in the Midwest and Southern United States,” said Lou Verdetto, CEO of Strata’s Clinical Division. “More than just unlocking the ability to win new perfusion contracts in the region, LPS also expands the national footprint of staff and equipment available to support our organ transplant customers.”

“LPS clinicians will serve as preservationists in nearby surgical organ recovery cases and can operate machine perfusion equipment,” said Christie Campbell, Strata’s VP of Cardiac Care. “This will make Strata an even more attractive partner to Transplant Centers and Organ Procurement Organizations.”

“Our customers count on us to be there when it matters most and finding a partner who shares that commitment was my top priority,” said Herbie Eggers, CEO of Louisville Perfusion. “Strata’s scale and clinical depth mean our hospital partners will see even stronger coverage and support, with the same people and the same standard of service they already know.”

“Adding LPS to Strata’s cardiac perfusion platform, which serves more than 275 hospitals today, opens up new capabilities from expanded ECMO support to upgraded technology for the programs LPS serves, positioning the team to make an even bigger impact across the region for years to come,” said Melissa Tomkiel, Co-CEO of Strata.

“This all-cash acquisition is consistent with our M&A strategy of deploying capital towards bolt-on acquisitions at accretive, mid-single digit Adjusted EBITDA multiples that both strengthen our existing service offerings and position Strata for growth,” said Will Heyburn, Co-CEO and CFO of Strata.

The all-cash transaction consists of approximately $16 million upfront consideration and up to $4 million additional consideration based on the financial performance of LPS in the 12 months following the transaction close. For the full year 2026, LPS is expected to generate revenue and Adjusted EBITDA⁽¹⁾ of approximately $10 million and $3 million, respectively, based on LPS’s unaudited financial performance.

(1) We have not reconciled the forward-looking Adjusted EBITDA guidance included above to the most directly comparable GAAP measure because this cannot be done without unreasonable effort due to the variability and low visibility with respect to certain costs. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.