The Japanese medtech giant will buy UK-based OrganOx, expanding globally into organ preservation and transplantation technologies.
Terumo Corporation has agreed to acquire OrganOx Limited, a UK-based developer of organ preservation devices, in a $1.5 billion deal. The transaction, signed on August 23, will make OrganOx a wholly owned subsidiary of Terumo upon closing.
Founded in 2008 as a University of Oxford spin-out by Professors Peter Friend and Constantin Coussios, OrganOx specializes in Normothermic Machine Perfusion (NMP) technology. Its devices keep donor organs at near-body temperature while circulating oxygen and nutrients, enabling longer preservation times and real-time monitoring of organ function. This approach can help improve transplant success rates and expand the use of marginal donor organs.
The deal represents Terumo’s strategic entry into the organ transplantation-related sector, a field with unmet medical needs and strong growth potential. The company plans to combine its expertise in medical devices with OrganOx’s NMP technology to expand access to organ preservation globally.
“OrganOx is a pioneer and leader in organ transplantation technology” said Oern R. Stuge, Executive Chairman of OrganOx. “Today’s announced transaction is expected to expand the adoption of our platform by leveraging Terumo’s global infrastructure.”
OrganOx’s metra liver perfusion device received FDA approval in 2021 and has since been commercialized in the U.S., EU, UK, Australia, and Canada. It has already been used in more than 6,000 liver transplant procedures worldwide.
Craig Marshall, CEO of OrganOx, called the acquisition “an important milestone” and said the company will continue to collaborate with Terumo to bring innovations to transplant medicine. CFO Steve Deitsch credited backers including BGF, Lauxera Capital, HealthQuest Capital, Sofina, Oxford University, Longwall Ventures, Technikos, Oxford Investment Consultants, and Intuitive Ventures for enabling the company’s growth.
Terumo Ventures, the company’s CVC arm, made a strategic investment in OrganOx earlier this year. With the acquisition, Terumo will seek to improve organ utilization rates, reduce emergency transplant procedures, and enhance outcomes for patients worldwide.