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Blade Completes Sale of Passenger Business and Planned Name Change to Strata Critical Medical, Begins Trading Under Ticker Symbol SRTA
Globenewswireยท 2025-08-29 12:30
Core Viewpoint - Strata Critical Medical, Inc. has successfully divested its Passenger business to Joby Aviation, marking a strategic shift to focus entirely on organ logistics and medical services [1][3] Company Overview - The rebranding to Strata Critical Medical is complete, and the company will now trade under the ticker symbol SRTA [2] - Strata Critical Medical specializes in time-critical logistics solutions and medical services, particularly in organ transplant logistics, leveraging an asset-light aircraft network [7] Financial Performance - The company anticipates a decrease in adjusted unallocated corporate expenses and software development costs to approximately $3.5 million per quarter by Q4 2025 [4] - Revenue for the full year 2025 is projected to be between $160 million and $170 million, with expectations of double-digit adjusted EBITDA [9] Strategic Focus - The company aims to expand its portfolio of services through organic growth, strategic partnerships, and acquisitions, supported by a strong financial position [3][7] - Strata's logistics solution offers a unique vantage point into various growth opportunities in the medical services sector [3] Upcoming Events - An investor day is planned for this fall, with more details to be provided in the coming weeks [5]