Swedish firm Getinge to buy Paragonix Technologies for about $477 mln

Getinge publ AB

22/08/2024 22:10

Aug 22 (Reuters) - Swedish medical-equipment maker
Getinge  GETIb.ST  said on Thursday it will acquire U.S.-based
organ transport company Paragonix Technologies for about $477
million.
    Getinge will acquire all the issued and outstanding shares
of the privately-held Paragonix on a cash and debt-free basis,
adding that the initial payout related to the acquisition will
be financed through a bridge loan provided by Swedish bank SEB
Group.
    The acquisition is expected to have a slightly negative
impact on Getinge's adjusted earnings per share in 2024, the
Gothenburg-based company said in a press release.
    Paragonix Technologies, headquartered in Waltham,
Massachusetts, is a developer and manufacturer in the organ
transplant industry, focused on improving patient outcomes
through advanced organ preservation solutions, according to its
website.
    Getinge, in July, had beat second-quarter earnings
forecasts, as its order intake rose despite some problems with
its packaging and heart products.  
    

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Mohammed
Safi Shamsi)
 ((rishabh.jaiswal@thomsonreuters.com;))