ORGANOX acquired by TERUMO
Context
Lauxera Capital Partners has successfully finalized the divestment of its minority equity stake in UK-based OrganOx to Japanese medical giant Terumo, marking the first historical exit for the medtech-focused growth investor. Since its initial entry into OrganOx’s capital by leading a £25 million funding round in 2023, followed by co-leading a $142 million expansion round in February 2025 alongside HealthQuest, Lauxera has successfully driven a five-fold increase in OrganOx’s revenue base within a two-year holding period. This rapid scale-up has generated a highly lucrative return on investment of over 100% for the growth sponsor. Strategically, this high-profile realization is positioned to significantly accelerate the institutional fundraising momentum for Lauxera’s second flagship vehicle, which targets €400 million with a hard cap of €500 million.
It is worth noting that the fund Lauxera took control of Organox through an LBO in 2023.
ORGANOX, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
OrganOx is a UK-based company founded in 2008, originating from the University of Oxford, which markets a groundbreaking device that can keep a liver graft functional outside the human body for up to 24 hours, significantly increasing the number of grafts eligible for transplantation. With innovative technology and a dedicated team, OrganOx has become a major player in the transplantation field, with a steadily growing revenue and established profitability, having generated a profit of £7.5 million in 2024. The company provides cutting-edge solutions to improve transplantation outcomes and meet the growing needs of patients. OrganOx is a success story in the medtech sector, with a history marked by strategic partnerships and targeted investments, such as the £25 million funding round led by Lauxera in 2023, and the $142 million funding round co-led by HealthQuest and Lauxera last February.
Ent. Value
Equity Value
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EV / Revenue
EV / EBITDA
EV / EBIT
Historical Financials (EUR)
Other operations with ORGANOX
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 07/2023 | LAUXERA | ORGANOX | UNITED KINGDOM | Medical Devices |
REFERENCES
Valuation range: EV 1b - 4b EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
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Press release: view release
Target: organox
Acquirer: terumo