OrganOx

Acquirer: Terumo

Oxford University spin-out OrganOx, a pioneering transplant technology company, has been acquired by Japanese medical devices group Terumo in a significant $1.5 billion (£1.2 billion) transaction, marking one of the largest ever deals for a UK medical technology business.Summary of transaction details:Value: £1.2 billion ($1.5 billion)Sector: Healthcare & Biotech (Transplant Technology)Advisor: Not specifiedKey Entities: OrganOx (Target), Terumo (Acquirer), Oxford University (Founder/Shareholder), BGF (Investor/Shareholder)Location: OrganOx (UK - Oxford), Terumo (Japan - Tokyo)Note: This acquisition underscores the global demand for advanced medical technologies developed in the UK while also raising discussions about the long-term retention of successful British spin-outs within domestic ownership. Terumo plans to leverage OrganOx's technology to expand its presence in the organ transplantation market globally.

Acquirer: Terumo Corporation

BGF has announced a landmark exit from OrganOx, a prominent medtech company, as part of its strong investment and exit activity in 2025. This transaction, valuing OrganOx at $1.5 billion, delivered £175 million in proceeds to BGF and is noted as one of the largest medtech exits on record in the UK.Summary of transaction details:Value: Approximately £1.2 billion (USD $1.5 billion)Sector: Healthcare & Biotech (Medtech)Advisor: Not disclosedKey Entities: OrganOx (Target), BGF (Exiting Investor), Undisclosed AcquirerLocation: UK (as a UK Medtech exit)Note: This exit marks BGF’s largest-ever return, demonstrating the significant value creation achieved through its long-term investment strategy in the growth capital sector, particularly within innovative healthcare technologies.

Investor: Lauxera Capital Partners

Investor: Business Growth Fund