Getinge acquires Paragonix Technologies in September 2024

On September 11, 2024, Getinge finalized its acquisition of Paragonix Technologies, a prominent U.S. company specializing in organ transport products and services. The deal, initially announced on August 22, 2024, involved a total purchase price of approximately USD 477 million, which includes upfront payments and potential earn-outs based on performance milestones. Getinge paid around USD 253 million in cash at the time of completion, financed through a bridge loan from SEB. The acquisition is strategically significant as the organ transplant market is experiencing rapid growth, projected to exceed USD 10 billion by 2034. This growth is driven by increasing demand and a shift from traditional preservation methods to advanced technologies. Paragonix Technologies has recently introduced innovative products targeting the abdominal segment, complementing its existing offerings in the heart and lung segments. With nearly all of Paragonix's sales occurring in the U.S., there is substantial global market potential that Getinge aims to tap into. The collaboration is expected to enhance their combined product offerings and strengthen their market position. However, Getinge anticipates a slight negative impact on its adjusted earnings per share in 2024, with expectations of a positive contribution starting in 2028. The acquisition aligns with Getinge's long-term strategy to expand its portfolio in the healthcare sector, particularly in organ preservation and transplantation. By leveraging Paragonix's expertise and innovative solutions, Getinge is well-positioned to capture the growing global demand for organ transport technologies.