Getinge Acquires Organ Transport Products and Services Company Paragonix Technologies
Posted on 26 Aug 2024
The market for organ preservation and transportation is poised for significant growth worldwide. In the United States, reforms initiated in 2019 are reshaping the transplantation system, which is promoting enhancements in organ transplant procedures. There is also a growing trend of using organs from previously underutilized donor pools, which is increasing the overall volume of transplants. With the organ waiting list exceeding 100,000 patients in the US alone and continuous technological improvements, the combined organ transplant market in the US and EU is projected to surpass USD 10 billion by 2033, maintaining a double-digit growth rate. The US continues to be the largest and most homogeneous market in this sector.
Getinge (Gothenburg, Sweden) has entered into an agreement to acquire 100% of Paragonix Technologies (Waltham, MA, USA), a leading organ transport products and services company for an aggregated purchase price, including upfront and earn-out payments, estimated to approximately USD 477 million. This acquisition marks Getinge’s strategic entry into the dynamic field of organ preservation and transportation, which is being driven by increasing transplant activities, technological advancements, and evolving clinical practices. Through this acquisition, Getinge will enhance its offerings across the entire transplant workflow, complementing its existing pre- and post-transplant patient support products in the acute heart & lung support area, and expanding into adjacent markets such as those for kidneys, livers, and pancreas.
"We are excited to enter the organ preservation and transportation market which is rapidly evolving, driven by a global shortage of organs and the pressing need to increase transplantation volume," said Elin Frostehav, President Acute Care Therapies at Getinge. “Teaming up with Paragonix Technologies' talented team and proven technology is not just a strategic fit for Getinge, it is a catalyst to redefine the market standard, especially considering our expertise in the acute heart and lung support segment and our existing global sales network.”
"This strategic move positions us to innovate within the transplant space, and ultimately, confirms our purpose to make life-saving solutions accessible for more people and our objective to double the lives saved. We look forward to an exciting future where we continue to make a difference together with our new colleagues at Paragonix Technologies," Elin Frostehav concluded.
"We are thrilled to join forces with Getinge," added Dr. Lisa Anderson, CEO and President of Paragonix Technologies. "Our product portfolio, transplant services, and robust clinical data position us as an industry leader. Together, we look forward to making a broad clinical impact, improving patient care, and launching new innovations in transplantation and end-stage organ failure. With Getinge's global sales footprint, we can now extend our technologies and solutions to underserved patient populations worldwide."
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Getinge
Paragonix Technologies
