The total price of the acquisition, including upfront and earnout payments, could reach approximately $477 million.
Getinge expects the deal to enhance its global healthcare portfolio while addressing needs in solid organ transplantation. The Sweden-based company can expand access to Paragonix’s technologies in new markets, according to a news release. Additionally, it expects to create opportunities to combine organ containment and blood perfusion technologies for new innovations.
“Paragonix, as a developer, manufacturer, and service provider in the organ transplant industry has established itself as a pioneer in organ transplantation, providing a novel approach to organ preservation, transport and procurement,” said Elin Frostehav, President Acute Care Therapies at Getinge. “Teaming up with Paragonix’s talented team and proven technology is not just a strategic fit for Getinge, it is a catalyst to redefine the market standard in transplantation. By leveraging our expertise in the acute heart and lung support segment and providing access to our existing global sales network, we hope to expand the reach of this technology.”
More about Paragonix and what it brings to Getinge
Waltham, Massachusetts-based Paragonix develops a series of organ preservation systems. Its offerings include systems for liver, heart, pancreas and lung preservation.
Paragonix designed its devices to combine clinically proven, stable, hypothermic preservation technology with an extensive clinical support network. There are digital tools for complete control over the process of organ tracking, monitoring and reporting.
The integration of the technologies with Getinge’s resources and distribution network can accelerate the availability of the technology. Paragonix and Getinge expect their deal to foster the creation of technologies that can address critical global healthcare needs.
“Since our inception, Paragonix’s primary focus has been on improving patient outcomes and increasing the number of successful transplants. We have dedicated ourselves to providing clinicians and their patients with best-in-class solutions while also developing comprehensive clinical data for all solid organs. Our success is a testament to our team’s passion, commitment, and relentless pursuit of excellence. We are excited to join Getinge to bring our innovations, technologies, and services to underserved patient populations worldwide,” said Dr. Lisa Anderson, Founder, President & CEO of Paragonix. “Each day, we are inspired to deliver novel, life-changing innovations to the transplant and donation communities. We express our deepest gratitude to the clinical and donation community for the opportunity to serve.”
Medical Design & Outsourcing: Paragonix CEO Lisa Anderson’s quest to build better organ transport systems
