Strata Critical Medical (SRTA): The Organ Transplant Logistics Roll-Up

In this Business Breakdown, David Barbato and Adam Wilk sit down with Strata Critical Medical’s (SRTA) co-CEO and CFO Will Heyburn and VP of Finance and Investor Relations and CFO of Clinical Services, Mat Schneider. This discussion took place live on September 29th, 2026, on the MicroCapClub Community. Join MicroCapClub and unlock the ability to listen and participate live in these discussions.

They discuss why Strata stays device-agnostic while companies like TransMedics build their own devices, and how national organ allocation is pushing donors and recipients farther apart. They also cover the growth of normothermic regional perfusion and third-party organ recovery, how OPO retainer contracts cut the cost of dry runs, why owning aircraft is not central to the growth plan, and how Strata buys regional providers at mid-single-digit EBITDA multiples.

You can listen/watch this business breakdowns on Spotify, Apple, and YouTube below:

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