Swedish medical equipment maker Getinge 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.
Source: Reuters.com