Overview

• The definitive agreement dated August 23, 2025 covers all outstanding shares, with OrganOx to become a wholly owned subsidiary upon completion.
• The reported transaction value is approximately $1.5 billion and is a preliminary estimate subject to closing adjustments for cash, debt and working capital.
• OrganOx will continue operating from Oxford as a standalone division within Terumo following completion, according to company statements.
• OrganOx’s metra normothermic machine perfusion device received FDA approval in 2021, holds approvals across major markets, and has supported more than 6,000 liver transplants.
• BGF is set to realize about £175 million from the sale, and OrganOx was advised by Perella Weinberg Partners, Piper Sandler and Latham & Watkins.