Third Point Urges Strata Critical Medical to Explore a Sale

Shares of Strata Critical Medical, Inc. rose Friday, Oct. 16, after Third Point LLC and its CEO, Daniel S. Loeb, urged the medical services company to review strategic options, including a possible sale.

The investors disclosed beneficial ownership of 5,126,511 shares, or 5.8% of Strata’s common stock, in a Schedule 13D filed Oct. 15. They identified Oct. 13 as the event date and calculated the stake using 88,466,806 shares outstanding as of July 28, 2026.

Two Third Point funds bought 58,743 shares at $4.55 each on Oct. 12 and another 67,768 shares at $4.53 each on Oct. 13. Third Point and Loeb listed $24,452,374 as the aggregate cost to acquire the shares.

They urged Strata to assess strategic alternatives, including a sale managed by an investment bank. The investors described the business as strong but too small to support its current overhead. They also argued that management incentive options do not align with shareholder value and that Strata shares are undervalued.

Third Point and Loeb said they may contact Strata’s management or board. A Nov. 14, 2025, Schedule 13G/A listed five million shares, or 5.8% of the company. That percentage used Strata’s share count as of Sept. 30, 2025, while the current stake calculation uses the July 28, 2026, share count.

Its services span medical transport, organ placement and recovery, and perfusion support for transplant and cardiovascular care. The company was formerly known as Blade Air Mobility.