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Swedish healthcare company Getinge announced plans to acquire U.S.-based Paragonix Technologies, a leader in organ transport products and services, for $477 million. The deal, consisting of $253 million in cash and up to $224 million in earnout payments through 2026, will allow Getinge to expand into the fast-growing organ preservation and transportation market.

Getinge to Buy Paragonix for $477M : Expanding into Organ Transport

The acquisition is a significant move for Getinge, whose president of acute care therapies, Elin Frostehav, emphasized that the deal will help the company address the global organ shortage by increasing transplantation volumes. “Teaming up with Paragonix's talented team and proven technology...is a catalyst to redefine the market standard,” Frostehav said.

Paragonix, founded in 2010 and based in Waltham, Massachusetts, has experienced rapid growth, with revenues of $43.1 million in 2023, a 136% increase from the previous year. With nearly all of its sales in the U.S., the partnership with Getinge is expected to drive international expansion.

Strategic Synergy

Paragonix President and CEO Lisa Anderson highlighted that the combined expertise of both companies will improve patient care and facilitate innovation in the transplant field. Getinge’s existing portfolio in acute heart and lung support, already used in organ transplants, complements Paragonix's offerings, with plans to expand into kidney, liver, and pancreas markets.

The transaction is expected to close in late Q3 or early Q4 of this year, subject to customary closing conditions.