Strata Critical Medical, formerly Blade Air Mobility, exited its passenger business in 2025 to concentrate exclusively on time-critical logistics and medical services for the U.S. transplant ecosystem. Operating two segments—Logistics under Trinity and Clinical under Keystone—the company offers an integrated 'one call' solution combining air and ground transport with surgical organ recovery and perfusion technologies. Despite ongoing operating losses, Strata reported a net income of $41.3 million in FY2025 driven by revenue growth and operational efficiencies following its strategic pivot. The asset-light model supplemented by owned aircraft enhances cost control, while proprietary technology and established customer contracts create competitive moats. Key risks include regulatory compliance, clinical complexity, and integration execution.