Getinge to buy Paragonix organ-preserving tech for up to $477M [Yahoo! Finance]
GETINGE AB UNSP/ADR (GNGBY)
NASDAQ:AMEX Investor Relations:
getinge.com/int/about-us/investors
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Source: Yahoo! Finance
Getinge will pay $253 million in cash at closing, with additional milestone payments that may exceed $224 million, according to the Thursday announcement. The Swedish company expects to make the milestone payments between 2024 and 2026 if certain regulatory and financial goals are met. In 2023, Paragonix brought in $43.1 million in revenue, representing year-over-year growth of 136%, a factor Getinge highlighted as motivation for the purchase. Dive Insight: Paragonix, a privately held company based in Waltham, Massachusetts, makes products to keep organs cool while transporting them, as well as an app to allow healthcare facilities to track devices and monitor temperature. Paragonix has offerings for heart, liver and lung preservation. The company, which has about 100 employees, also offers services to procure organs from hospitals. Getinge explained the strategy of the acquisition as a way to capitalize on a market where the space is moving away from the traditional method
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