On August 22, Paragonix Technologies announced that it entered into a definitive agreement to be acquired by Getinge for an undisclosed price.
Paragonix Technologies, headquartered in Waltham, Massachusetts, is a developer and manufacturer in the organ transplant industry. In March 2023, Paragonix partnered with Signet Healthcare Partners, a New York-based private equity firm, to support the company’s growth and strategic objectives.
Founded in Sweden in 1904, Getinge is a global medical technology company that provides hospitals and life science institutions with products and solutions aiming to improve clinical results and optimize workflows. Getinge employs approximately 12,000 people worldwide and the products are sold in more than 135 countries.
The acquisition of Paragonix Technologies will enhance Getinge’s global healthcare portfolio to also address needs in solid organ transplantation. Getinge’s global reach will expand access of Paragonix’s organ transplant technologies to new markets while also creating opportunities for combining the organ containment and blood perfusion technologies of the two companies for new innovations. Upon closing, Paragonix will become a wholly owned subsidiary of Getinge.
Sheppard, Mullin, Richter & Hampton LLP is serving as legal advisor, Knobbe Martens Olson & Bear LLP is serving as Intellectual Property counsel and UBS Investment Bank Securities is serving as exclusive financial advisor to Paragonix.
According to data captured in the LevinPro HC database, this acquisition marks the first organ transplant services transaction of the year. In 2023, there were two organ transplant services deals announced. The acquirers in the space last year were CareDx (acquired MediGO) and TransMedics Group (acquired organ support and heart preservation transport system assets from Bridge to Life).
