Terumo Corporation announced that Terumo has entered into a definitive agreement dated August 23, 2025, with OrganOx Limited, a leading innovator in organ preservation devices, and its shareholders to acquire all outstanding shares of OrganOx. Upon completion of the transaction, OrganOx will become a wholly owned subsidiary of Terumo. The total transaction value is approximately $1.5 billion.

Founded in 2008 by Professor Peter Friend and Professor Constantin Coussios as a spin-off from the University of Oxford, OrganOx is a pioneering medical technology company specialising in advanced organ preservation devices for Normothermic Machine Perfusion (NMP). NMP and other ex vivo machine perfusion (EVMP) technologies can preserve organs longer by circulating oxygen and nutrient-rich perfusate through the organ at near-body temperature. In addition, NMP devices enable real-time monitoring of organ condition during storage and transport. This aims to help prevent the transplantation of organs with impaired function—to improve transplant success rates—as well as leading to a more effective use of organs from marginal donors.

The acquisition marks Terumo’s strategic entry into the organ transplantation-related sector—a field with significant unmet medical needs and strong growth potential. By combining Terumo’s long-standing expertise in designing medical devices and equipment with OrganOx’s advanced capabilities in NMP, the Company aims to deliver innovative organ preservation devices globally. Terumo seeks to broaden access for patients in need of transplants and contribute to the advancement of transplantation medicine by aiming to address key challenges in organ transplantation, including improving organ utilisation rates, enabling the use of marginal donor organs, enhancing post-transplant outcomes, and reducing the burden on healthcare professionals through minimising nighttime and emergency procedures.

“OrganOx is a pioneer and leader in organ transplantation technology,” said Oern R. Stuge, MD, MBA, and Executive Chairman of OrganOx. “Today’s announced transaction is expected to expand the adoption of our transplantation technology platform by leveraging Terumo’s global infrastructure to benefit more patients around the globe.”