Blade announces sale of Passenger Division to Joby, Transitions to Pure-Play Medical Services and Logistics Business
Blade Passenger division to be sold to Joby Aviation for up to $125 million
Blade's Medical division will remain public and rebrand as Strata post-close, focusing entirely on its rapidly growing contractual medical services and logistics business
Long-term partnership between Joby and Strata will provide future access to Joby eVTOLs for medical flights
Divestiture is expected to be Adjusted EBITDA and Free Cash Flow neutral
NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Blade Air Mobility, Inc. (NASDAQ:BLDE, "Blade" or the "Company")) today announced an agreement to sell Blade's passenger division to Joby Aviation, Inc. (NYSE:JOBY) for up to $125 million.
Following the close of the transaction, Blade's Medical division will remain public and re-brand as Strata Critical Medical ("Strata"), focusing on leveraging its asset-light platform to provide mission critical logistics and medical services to hospitals and healthcare providers throughout the country, while strengthening and growing its business portfolio both organically and through acquisitions. Trinity Medical Solutions, the Company's operating business in the Medical segment and one of the largest air transporters of human organs for transplant in the United States, will remain Strata's wholly owned subsidiary.
The divestiture of Blade's passenger business includes operations in the US and Europe, lounges and terminals in key hubs, as well as the Blade brand. Operations will continue with the business functioning as a standalone entity within Joby upon closing.
As part of this transaction, Strata will gain access to Joby aircraft for medical use as part of a long-term eVTOL partnership between the companies. It is expected that the quiet capabilities of Joby's aircraft, coupled with its potential to operate at lower costs than traditional helicopters and other shorter-range aircraft, will provide value to Strata customers and a competitive advantage for the Company.
The financial impact of the divestiture is expected to be Adjusted EBITDA and Free Cash Flow neutral, supported by approximately $7 million in estimated annual corporate cost efficiencies.
At the closing of the transaction, Rob Wiesenthal, Founder and CEO of Blade, will join Joby as CEO of Blade Air Mobility and will also serve as Chairman of the Board of Strata.
Will Heyburn, Blade's Chief Financial Officer, and Melissa Tomkiel, Blade's President and General Counsel, will succeed Mr. Wiesenthal, serving as Co-CEOs of Strata while retaining their CFO and General Counsel roles, respectively.
Blade's current Chairman, Eric Affeldt, will be named Lead Independent Director.
"Blade's mission since inception has been to accelerate the transition from traditional rotorcraft to electric aircraft. There is no stronger company than Joby to help make this mission a reality, for the benefit of all our stakeholders, including our fliers, employees, partners, and the cities we serve," said Mr. Wiesenthal.
He added, "Over the past eight years, our Company has successfully leveraged its logistics expertise to build one of the largest air transporters of human organs in the U.S. This transaction enables the Company to become laser focused on broadening our offerings across the medical logistics and solutions value chain with a singular strategy and significant deployable capital for acquisitions and organic expansion."
"Strata's end-to-end, time critical air logistics platform is second to none and is trusted by more organ transplant hospitals than any other provider," said Ms.Tomkiel. "We will remain relentless in supporting our customers, all of whom are engaged in life-saving work every day. Our 100% contracted customer retention rate over ...
