Medical technology company Getinge (STO:GETI-B) announced on Friday that it has agreed to acquire 100% of Paragonix Technologies, Inc. for an estimated USD477m, including upfront and earnout payments.
Paragonix Technologies, a leading US-based organ transport company, reported a 136% revenue growth in 2023, reaching USD43.1m. This acquisition aligns with Getinge's strategy to expand into high-growth markets, enhancing its existing acute heart and lung support offerings and positioning it in the organ preservation and transportation sector.
The global transplant market, driven by increasing volumes and technological advances, is projected to exceed USD10bn by 2033.
Getinge anticipates a positive impact on adjusted earnings per share by 2028, despite a slight negative impact in 2024. The acquisition is expected to close in late Q3 or early Q4 2024.
bioMérieux launches PCR wastewater test to support early detection of infectious disease outbreaks
Clario partners with AWS on advancing clinical data analysis with generative AI
Zynext Ventures invests in Feldan Therapeutics
Sanofi advances respiratory pipeline with positive amlitelimab data and expanded clinical programmes
Sichuan Kelun-Biotech reveals sacituzumab tirumotecan (sac-TMT) clinical studies results
Amgen's IMDELLTRA shows superior overall survival in small cell lung cancer trial
VARON expands access to home oxygen concentrators
SciTech Development secures second FDA clearance for ST-001 in early-stage cancer trials
Mabwell's B7-H3-targeting ADC clinical trial application receives Chinese regulatory approval
Dupixent receives approval in Japan as first biologic for COPD treatment
Vast Therapeutics' ALX1 drug candidate granted QIDP designation by US FDA
Actinium Pharmaceuticals signs Ac-225 radioisotope agreement with Eckert & Ziegler
GSK's Nucala (Mepolizumab) COPD application accepted by EMA
Everest Medicines' EVM14 IND application receives US FDA approval