NEW YORK--(BUSINESS WIRE)--Signet Healthcare Partners ("Signet") is pleased to announce that one of its medical device portfolio companies, Paragonix Technologies ("Paragonix" or the "Company"), a leading innovator in organ transplantation and preservation technology, has successfully been acquired by Getinge, a global medical technology company. This acquisition marks a significant milestone in the growth and expansion of Paragonix's transformative transplant offerings.
Signet's partnership with Paragonix began in March 2023, when it led the Company's $25 million Series B investment, providing critical growth equity capital and strategic guidance to accelerate its mission of redefining the standard of care in organ transplantation. As the first and only institutional investor in the Company, Signet played a pivotal role in driving Paragonix's growth, including facilitating an add-on acquisition in 2023 that expanded the Company's service offerings. Under the leadership of Dr. Lisa Anderson, Founder, President & CEO of Paragonix, the Company achieved remarkable organic growth and expanded its market-leading organ transplant technologies globally. Paragonix's groundbreaking devices and services for cardiothoracic and abdominal transplantation have rapidly gained adoption, setting groundbreaking benchmarks for safety, efficacy, and logistics in the organ transplant journey.
Ashley Friedman, Managing Director of Signet and Board Director of Paragonix, commented, "We are proud of our collaboration with Paragonix, and the incredible work led by Dr. Lisa Anderson and her team. Their dedication to improving patient outcomes and advancing organ transplantation technology has been exceptional. Paragonix has established itself as a leader in the field, and with Getinge's global reach and resources, we are confident they will continue to drive innovation and improve the lives of transplant patients worldwide."
Dr. Lisa Anderson added, "Partnering with Signet Healthcare Partners has been crucial in our journey and we are grateful for their unwavering support since leading the 2023 Series B financing. Signet's deep medtech experience, exceptional commercial scaling expertise, and extensive medical device network provided an immediate launching pad for our Company's rapid growth and, ultimately positioning us for a successful acquisition by a major strategic player. Together, we have built a leading platform that is transforming the landscape of organ transplantation, and we are excited about the future as we join forces with Getinge to expand our global impact."
Paragonix is one of the first three investments from Signet's new investment fund, Signet Healthcare Partners Fund V ("Fund V"), which invests in commercial-stage pharmaceutical and medical device companies. Fund V deploys approximately $20 million per investment, typically taking active minority positions in its portfolio companies.
About Signet Healthcare Partners
Signet Healthcare Partners is a leading provider of growth capital to innovative healthcare companies, with a focus on the pharmaceutical and medical device sectors. With over 25 years of experience, Signet has raised cumulative capital commitments exceeding $600 million and invested in over 60 companies. The firm works closely with its portfolio companies to drive value and accelerate growth. For more information, visit www.signethealthcarepartners.com.
About Paragonix Technologies
Paragonix Technologies is a leading developer, manufacturer, and service provider in the organ transplant industry, establishing a novel approach to organ preservation. Paragonix Technologies provides Advanced Organ Preservation ("AOP") devices that safeguard donor organs during the journey between donor and recipient patients. Our FDA-cleared and CE-marked devices incorporate clinically proven and medically trusted cold preservation techniques that allow unprecedented physical and thermal protection to the organ during transit. All Paragonix AOP devices are natively integrated with our novel digital app, delivering real-time organ tracking data and monitoring logistics for transplant teams seeking a secure and centralized solution. For more information, visit www.paragonix.com.
Contacts
Emad Piracha
emad.piracha@signethp.com
