Terumo announced today that it entered into a definitive agreement to acquire OrganOx and its organ preservation technology.
Tokyo-based Terumo agreed to acquire all outstanding OrganOx shares for approximately $1.5 billion. Upon completion of the transaction, OrganOx becomes a wholly owned subsidiary of Terumo.
Terumo Cardiovascular makes a long-running line of commercially available heart-lung machines used in heart surgeries and was a key driver behind Terumo’s 12% revenue growth last year. Terumo aims to leverage its medtech expertise in combination with OrganOx’s advanced capabilities to deliver innovative organ preservation devices globally.
This marks the second major acquisition of an organ preservation technology company within the last year, after Getinge bought Paragonix for $477 million.
Terumo aims to broaden access for patients in need of transplants and address key challenges in organ transplantation. That includes improving organ utilization rates, enabling the use of marginal donor organs, enhancing post-transplant outcomes and reducing the burden on healthcare professionals through minimizing nighttime and emergency procedures.
“We are thrilled to welcome OrganOx—a leading innovator in organ preservation technology—into the Terumo Group, marking our entry into the organ transplantation field,” said Hikaru Samejima, CEO of Terumo Corporation. “Organ transplantation represents a last resort for patients with limited treatment options, and addressing the unmet needs in this area carries significant social value. Donated organs are an extremely precious medical resource, and OrganOx’s mission to deliver transplantable organs in optimal condition deeply resonates with our unwavering commitment to patients — our promise.
“Together with OrganOx, we will strive to provide innovative solutions to tackle the diverse challenges surrounding organ transplantation.”
More about the soon-to-be Terumo subsidiary OrganOx
OrganOx, a spinoff from the University of Oxford (UK), specializes in normothermic machine perfusion (NMP).
NMP and other ex-vivo machine perfusion (EVMP) technologies can preserve organs longer by circulating oxygen and nutrient-rich perfusate through the organ at near-body temperature, Terumo says. They also enable real-time monitoring of organ condition during storage and transport. This can help prevent the transplantation of organs with impaired function and lead to more effective use of organs from marginal donors.
The OrganOx liver NMP device, Metra, won FDA approval in 2021, then the company launched it in the U.S. in 2022. It also has regulatory approval in Europe, the UK, Australia and Canada as commercialization efforts continue in those regions. To date, the company touts the use of Metra in more than 6,000 liver transplant procedures worldwide.
OrganOx also has a kidney NMP device under development, with eyes on commercialization around 2030.
“OrganOx is a pioneer and leader in organ transplantation technology,” said Dr. Oern R. Stuge, executive chair of OrganOx. “Today’s announced transaction is expected to expand the adoption of our transplantation technology platform by leveraging Terumo’s global infrastructure to benefit more patients around the globe.”
Terumo already had an interest in OrganOx prior to the acquisition, with its Terumo Ventures arm taking part in a $142 million fundraising round in March.
“This transaction represents an important milestone for OrganOx and its shareholders,” said Craig Marshall, Chief Executive Officer of OrganOx. “We look forward to continuing our rich history of collaboration with Terumo to continue harnessing our collective innovations to improve patient care.”
