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Terumo Corporation is stepping into new territory. The Japanese medical technology giant has announced it will acquire OrganOx Limited, a UK-based spin-off from the University of Oxford known for its pioneering work in organ preservation. The $1.5 billion deal, signed on August 23, 2025, will see OrganOx become a wholly owned subsidiary of Terumo.
For Terumo, the acquisition represents a strategic move into the organ transplantation sector—a field where technology is advancing quickly but clinical needs remain pressing. By pairing its expertise in medical device design with OrganOx’s technologies, particularly in normothermic machine perfusion (NMP), the company is betting on a future where more donated organs can be preserved, assessed, and successfully transplanted.
OrganOx was founded in 2008 by Professors Peter Friend and Constantin Coussios. Its flagship liver device, metra, has already changed the way organs are stored. Unlike traditional cold storage, NMP keeps livers functioning at near-body temperature by circulating oxygenated, nutrient-rich perfusate through the organ. This not only extends the preservation window but also allows doctors to monitor the organ in real time before transplantation. The result is fewer discarded organs, safer procedures, and potentially better patient outcomes.
“OrganOx is a pioneer and leader in organ transplantation technology,” said Oern R. Stuge MD, MBA, Executive Chairman of OrganOx. “The 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.”
The partnership between the two companies is not new. Terumo Ventures, the corporation’s investment arm, made a strategic investment in OrganOx earlier this year, strengthening ties built through previous collaborations.
“This transaction represents an important milestone for OrganOx and its shareholders,” said Craig Marshall, Chief Executive Officer of OrganOx. “We look forward to continuing our rich history of collaboration with Terumo to continue harnessing our collective innovations to improve patient care.”
OrganOx’s metra has already achieved FDA approval (2021) and is commercially available in the U.S., EU, UK, Australia, and Canada. More than 6,000 liver transplant procedures worldwide have been carried out using the device, underscoring its adoption and clinical impact.
For OrganOx’s Chief Financial Officer, Steve Deitsch, the deal is also about recognising the investors who backed the company through its growth years:
“Our NMP technology uniquely addresses the quadruple aim of healthcare by benefiting patients, healthcare providers, population health, and the cost of care. Thank you to our top tier group of investors, including among others Business Growth Fund (BGF), Lauxera Capital, HealthQuest Capital, Sofina, Oxford University, Longwall Ventures, Technikos, Oxford Investment Consultants, and Intuitive Ventures who provided both the capital and leadership to enable the value creation inherent in today’s announced $1.5 billion transaction.”
With Terumo now stepping in as owner, the focus will be on scaling these technologies globally. Beyond liver transplants, the potential for machine perfusion could extend into other organs, offering solutions to chronic shortages in transplantation. And for patients on waiting lists, the partnership signals hope that more viable organs might soon be available.
The future of medical technology will be at the heart of MedTech Malta 2025 this November. Happening from 12 to 14 November, the event will bring together global leaders, investors, startups, and healthcare professionals for discussions, networking, and collaboration.
Whether you are looking to sponsor, share your expertise as a speaker, or showcase your innovation as a startup, MedTech Malta 2025 is the place to be. For more information, contact us at [email protected].
