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.