Signet Healthcare Partners, is pleased to announce that Paragonix Technologies ("Paragonix" or the "Company"), a leader in organ transplantation and preservation technology, has been acquired by Getinge, a prominent global medical technology firm.

This acquisition represents a significant milestone in the expansion and growth of Paragonix’s innovative transplant solutions.

Signet's involvement with Paragonix began in March 2023, when it led the Company’s $25 million Series B funding round. As the sole institutional investor, Signet provided essential growth capital and strategic support to advance Paragonix’s mission to enhance organ transplantation standards.

This partnership also included a strategic add-on acquisition in 2023, which broadened the Company’s service offerings. Under the leadership of Dr. Lisa Anderson, Paragonix experienced substantial growth and expanded its global presence with its advanced transplant technologies.

The Company’s pioneering devices and services for cardiothoracic and abdominal transplantation have set new benchmarks for safety, efficacy, and logistics in the field.

Signet’s Managing Director, who also served as a Board Director for Paragonix, highlighted the pride in the collaborative achievements and the significant advancements made under Dr. Anderson’s leadership.

With the support of Signet and its expertise in medtech, Paragonix established itself as a leader in the industry. The acquisition by Getinge, with its extensive global resources, is expected to further drive innovation and improve transplant patient care worldwide.

The partnership with Signet was described as instrumental in Paragonix’s growth journey. The support provided, especially during the 2023 Series B financing, was crucial for the Company’s expansion and successful acquisition by a major strategic player. The future with Getinge is anticipated to significantly enhance the global impact in organ transplantation.

Paragonix is one of the initial investments from Signet’s latest fund, Signet Healthcare Partners Fund V (“Fund V”), which focuses on commercial-stage pharmaceutical and medical device companies. Fund V typically invests around $20 million per company, taking active minority positions in its portfolio.

 

Source: signethealthcarepartners.com

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