MedTech Dive August 23, 2024
Getinge will pay $253 million in cash at closing, with additional payments expected to be made between 2024 and 2026 if certain milestones are met.
Dive Brief:
- Getinge has agreed to buy Paragonix Technologies, a maker of devices to preserve organs during transportation, in a deal worth up to $477 million.
- 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.
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