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Getinge to acquire Paragonix Technologies, a growth leader in the organ transplantation market

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Today, Getinge announces an agreement to acquire 100% of Paragonix Technologies, Inc., a leading organ transport products and services company in the United States for an aggregated purchase price, including upfront and earn out payments, estimated to approximately USD 477 million.

GOTHENBURG, Sweden, Aug. 22, 2024 /PRNewswire/ — With the acquisition of Paragonix Technologies – a pioneer and innovator in organ transport and preservation – Getinge marks its entry into a rapidly advancing field driven by rising transplant volumes, technological innovations and evolving clinical practices. The acquisition aligns with Getinge’s broader strategy to expand its portfolio into high growth markets that complement and enhance its acute heart and lung support offering already being used in connection with transplantation, positioning the company at the forefront of the fast-growing organ preservation and transportation market.

“We are excited to enter the organ preservation and transportation market which is rapidly evolving, driven by a global shortage of organs and the pressing need to increase transplantation volume. Teaming up with Paragonix Technologies’ talented team and proven technology is not just a strategic fit for Getinge, it is a catalyst to redefine the market standard, especially considering our expertise in the acute heart and lung support segment and our existing global sales network”, says Elin Frostehav, President Acute Care Therapies at Getinge.

Founded in 2010, Paragonix Technologies is a privately held company headquartered in Waltham, Massachusetts, USA, and employs approximately 100 people. In 2023, Paragonix Technologies reported revenues of USD 43.1 million, representing an impressive 136% growth over prior year. Close to 100% of its sales are generated from the US market.

The global organ preservation and transportation market is expected to continue to sustain rapid growth. In the US, reforms initiated in 2019 are transforming the transplantation system, driving further improvements in organ transplantation. Additionally, the utilization of organs from previously underutilized donor pools is expanding overall transplant volumes. With over 100,000 patients on the organ waiting list in the US alone, and alongside ongoing technological advancements, the US and EU combined total organ transplant market is expected to exceed USD 10 billion by 2033, continuing its double-digit growth trajectory. The US remains the largest and most homogeneous market.

“We are thrilled to join forces with Getinge”, says Dr. Lisa Anderson, CEO and President of Paragonix Technologies. “Our product portfolio, transplant services, and robust clinical data position us as an industry leader. Together, we look forward to making a broad clinical impact, improving patient care, and launching new innovations in transplantation and end-stage organ failure. With Getinge’s global sales footprint, we can now extend our technologies and solutions to underserved patient populations worldwide.”

The acquisition enables Getinge to provide innovative solutions across the entire transplant workflow, complementing and synergizing with existing pre- and post-transplant patient support products in the acute heart & lung support segment while also venturing into the adjacent kidney, liver, and pancreas markets.

“This strategic move positions us to innovate within the transplant space, and ultimately, confirms our purpose to make life-saving solutions accessible for more people and our objective to double the lives saved. We look forward to an exciting future where we continue to make a difference together with our new colleagues at Paragonix Technologies,” Elin Frostehav concludes.

The aggregated upfront purchase price and currently expected additional earnout payments in 2024-2026 are approximately USD 477 million, on a cash and debt free basis, for all issued and outstanding shares, of which USD 253 million is payable in cash on closing. The earn-out payments are expected to be paid between 2024 and 2026 if agreed upon regulatory and financial performance milestones are achieved and may exceed USD 277 million in aggregate. Getinge anticipates a positive contribution on adjusted earnings per share starting in 2028. The initial payout related to the acquisition will be financed through a bridge loan provided by SEB. The acquisition is expected to have a slightly negative impact on Getinge’s adjusted earnings per share in 2024. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has elapsed. The closing is expected to take place late Q3 or early Q4 2024, subject to customary closing conditions.

The deal logic in brief:

The total market for transplants has been growing rapidly in recent years and is expected to continue to grow double digit and exceed USD 10 billion in 2033.Growth is driven by volume increase due to demand and the transition from traditional methods (ice) towards new technologies as the average cost of transplant cases increases. This trend is already established for the Heart and Lung segments, and similar development is expected for the Abdominal segment.Paragonix Technologies outgrows the market significantly (136% growth in 2023) – seizing a substantial market share.Paragonix Technologies has a strong offering targeting the Heart and Lung segments, for example enabling >50% reduction of severe complications and 43% reduction in 2-year mortality compared to traditional heart transport and preservation solutions.Paragonix Technologies has recently launched attractive offerings targeting the Abdominal segment and has a strong pipeline of additional products. The company also has a strong portfolio of digital solutions and services.Untapped global potential – close to 100% of Paragonix Technologies’ sales is in the US. Getinge and Paragonix can capture global demand growth together, supported by Getinge’s global commercial infrastructure.Combining Paragonix Technologies’ leading offering and pipeline with Getinge’s expertise and offering in the acute heart and lung support, digital technology and services creates a very attractive offering as of today. The deal also enables the development of attractive combined offerings for the future – strengthening the leading position further.

Investor Relations:
Lars Mattson, SVP Corporate Development (Corporate Strategy | M&A | Investor Relations)
Phone: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com

Media contact:
Caroline Örmgård, Head of Public & Media Relations
Phone: +46 (0)10 335 0041
Email: caroline.ormgard@getinge.com

This information is such that Getinge AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on August 22, 2024 at 22.23 CEST.

About Getinge
With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions aiming to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile processing and life science. Getinge employs approximately 12,000 people worldwide and the products are sold in more than 135 countries.

About Paragonix Technologies
Paragonix Technologies is a leading developer, manufacturer, and service provider in the organ transplant industry, establishing a novel approach to preservation that represents a significant improvement over the traditional standard of care. Paragonix Advanced Organ Preservation devices combine clinically-proven, stable cooling techniques with digital tracking and monitoring technologies to provide clinicians complete control and oversight throughout the donor organ journey. The clinical impact of Paragonix preservation technology is reinforced by the GUARDIAN clinical registries, the largest database of organ preservation data in the world that analyzes post-transplant outcomes in transplant recipients.
Find out more about Paragonix Technologies >>

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/getinge/r/getinge-to-acquire-paragonix-technologies–a-growth-leader-in-the-organ-transplantation-market,c4027716

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Press release – Getinge to acquire Paragonix Technologies

https://news.cision.com/getinge/i/paragonix-1200×628,c3326659

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Sight Machine’s Factory Namespace Manager Converts Chaos of Manufacturing Data Names Into Corporate-Standard Naming Systems

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Fine-Tuned Version of Microsoft’s Phi-3.5 is One of the First Small Language Models (SLM) for Manufacturing

SAN FRANCISCO, Nov. 13, 2024 /PRNewswire/ — Sight Machine, provider of the leading platform for data-driven manufacturing and industrial AI, today introduced Factory Namespace Manager, one of the first AI small language models (SLM) for manufacturing. The AI model tackles a core data governance challenge: mapping the multitude of factory data naming schemas into enterprise-wide unified namespaces or corporate data dictionaries.

Factory Namespace Manager is one of the first partner-enabled adapted AI models for manufacturing offered within the Azure AI model catalog, which Microsoft announced today. Factory Namespace Manager uses AI to fill a crucial gap in the technology needed to create a unified namespace: mapping between the original data field names and the corporate standard, enabling manufacturers to integrate factory data with enterprise data systems for end-to-end optimization.

SLMs Are More Cost-Effective to Train and Use

Factory Namespace Manager, which Sight Machine will demonstrate at next week’s Microsoft Ignite conference in Chicago, is a customized, fine-tuned version of Microsoft’s Phi-3.5 small language model. Unlike large language models (LLMs) – general purpose software trained on vast amounts of data – SLMs are used to focus on specific types of work and require less computing resources, offering strong performance at low cost and low latency.

“Our solution addresses a widespread challenge in the manufacturing industry, converting decentralized naming systems into a single corporate standard,” said Kurt DeMaagd, Sight Machine Chief AI Officer and Co-Founder. “This has become an acute problem as more clients push factory plant floor data to the cloud, removing data from its original context, and making the management of that data increasingly difficult.”

Tackling Complex Factory Data Environments

Individual plants often have thousands of data sources from multiple generations of machinery that are frequently 10 or 20 years old, and typically the data streams aren’t labeled in a standardized format that makes clear where the data comes from and what it represents. In order to perform analytics across lines, processes and plants (and even between otherwise-identical machines with different data labeling), companies need a standardized way to identify similar data. Today, creating this translation layer requires a heavy investment of time by subject matter experts with extensive knowledge on the nuances of both the legacy and the target naming schemas, and is thus typically done manually for a small subset of data.

“I’ve spoken to dozens of industrial companies about their current and potential use of AI in factory operations and the overwhelming feedback I hear and see in IDC survey data is that most companies are struggling to leverage AI effectively at scale due to the condition of their data,” said Jonathan Lang, Research Director of Worldwide IT/OT Convergence Strategies at IDC. “They have this dilemma that contextually similar data is formatted in multiple ways and is difficult to source and normalize amidst a complete lack of historical governance and data architecture. What I’ve heard loud and clear is that technology that helps to solve this challenge and reduce the labor requirement to decipher data will be readily adopted.”

The bottling company Swire Coca-Cola USA plans to use Factory Namespace Manager to efficiently map its extensive PLC and plant floor data into its corporate data namespace.

“We are working with Factory Namespace Manager to recognize patterns in the data we’ve manually translated, and then applying the patterns to the rest of our factory data,” said Bharathi Rajan, VP of Data & Insights at Swire Coca-Cola USA. “This will make it much easier to get relevant data to frontline workers, to inform decision making, and to integrate production insights into other parts of the company such as supply chain. This is one of the most useful applications of AI we’ve seen in manufacturing, and we’re excited to put it to work.”

“The collaboration between Microsoft and Sight Machine will give manufacturing organizations the ability to build AI solutions through Azure AI Studio and Microsoft Copilot Studio that deliver real value and advance business transformation,” said Satish Thomas, Corporate Vice President, Business & Industry Solutions, Microsoft. “Factory Namespace Manager applies SLM AI technology to a high-impact use case with strong potential ROI for companies pursuing data-driven manufacturing.”

How Sight Machine’s Manufacturing Data Platform Employs AI Techniques

AI is interwoven into Sight Machine’s Manufacturing Data Platform, which uses machine learning and other AI techniques to identify and optimize how machine settings, raw materials and production practices interact to determine throughput, quality, sustainability and other key manufacturing metrics.

Sight Machine’s AI offerings include Factory CoPilot, which uses generative AI technology to offer an intuitive, “ask the expert” experience for all manufacturing stakeholders. Built using Microsoft Azure OpenAI Service, Factory CoPilot can automatically summarize all relevant data and information about production in real-time (e.g., for daily meetings) and generate user-friendly reports, emails, charts and other content (in any language) about the performance of any machine, line or plant across the manufacturing enterprise, based on contextualized data in the Sight Machine platform.

Sight Machine also offers Blueprint, AI-driven tag-to-asset mapping software for clients that have large volumes of poorly identified data sources. It uses AI to map each data source (tag) to a specific asset (machine). Sight Machine built Blueprint in partnership with Microsoft and NVIDIA.

Learn More

To learn more about Factory Namespace Manager, please go to https://sightmachine.com/product/factory-namespace-manager/.

About Sight Machine

Sight Machine provides the leading platform for data-driven manufacturing and industrial AI, helping global manufacturers increase profitability, productivity and sustainability. Sight Machine’s Manufacturing Data Platform creates a common data foundation by capturing and structuring data from the entire factory to deliver a systemwide view of the manufacturing process. With insights powered by artificial intelligence, manufacturers can now optimize across their production processes and factory networks, and extend the impact to their broader supply and value chains. Sight Machine has offices in San Francisco and Ann Arbor, Mich. (www.sightmachine.com).

Sight Machine Press Contact: Media@sightmachine.com

 

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THINKING NATION TO PRESENT AT NSSLA AND NCSS CONFERENCES ON THE FUTURE OF SOCIAL STUDIES EDUCATION AND INNOVATIVE TEACHING APPROACHES

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Presentations Will Address Disciplinary Thinking, the Importance of Social Studies, and Dynamic, Inquiry-Based Classroom Strategies

NORTHRIDGE, Calif., Nov. 13, 2024 /PRNewswire/ — Thinking Nation, a national 501(c)(3) committed to empowering students through inquiry by transforming social studies education from content memorization to an historical thinking discipline, is excited to announce its participation in two major education conferences in Boston: the National Social Studies Leadership Association (NSSLA) Annual Conference on Nov. 20, 2024, and the National Council for the Social Studies (NCSS) Annual Conference on Nov. 22-24, 2024.

Thinking Nation Executive Director Zachary Coté said, “If social studies is to be elevated to a critical subject that the wider population sees as vital to preserving our democracy and equipping future generations for success, we must support education leaders, better equip teachers, and demonstrate our own legitimacy to other stakeholders. Thinking Nation is honored to share our insights for how to tackle these tall tasks at our nation’s largest convening in social studies education in Boston next week. With such incredible collaborators, we are hopeful for the future of social studies.”

During the conferences, Thinking Nation experts will lead sessions on disciplinary thinking assessments, the future of social studies education, and innovative teaching methods that incorporate movement to enhance student engagement. Session details follow:

NSSLA: “Breaking Down Content Silos through Disciplinary Thinking Assessments”
Thursday, Nov. 21, 2024 | 1:35-2:30 p.m.

During this session, Thinking Nation Executive Director Zachary Coté and Director of Curriculum Annie Jenson will lead a discussion exploring the critical role of disciplinary thinking common assessments in transforming school districts. By utilizing these assessments, districts can achieve vertical alignment and foster interdisciplinary collaboration, ensuring students develop a cohesive set of skills throughout their education. Attendees will learn how these assessments streamline and standardize data on student performance and provide objective insights into student learning across grades and subjects.

NCSS Vital Issues Session: “The State of Social Studies Education: What Our Many Voices Can Do Together”
Saturday, Nov. 23, 2024 |9:10-10:10 a.m.

During this special session, featuring NCSS Interim Executive Director Anton Schulzki, iCivics Inc. CEO Louise Dubé, RAND Corporation Associate Policy Researcher Melissa Diliberti and Thinking Nation Executive Director Zachary Coté, panelists will discuss the current landscape of social studies education following the 2024 election. As our nation continues to navigate complex social and political issues, the need for strong social studies and civics education is more important than ever. These experts will address the essential role social studies plays in our society and how the field of social studies education can empower students to sustain and strengthen democracy while preparing them for an evolving economic landscape.

NCSS Session: “Movers and Shakers: Strategies for Teaching Historical Thinking Through Movement”
Saturday, Nov. 23, 2024 | 4:35-5:00 p.m.

During this session led by Thinking Nation’s Director of Curriculum Annie Jenson, participants will learn innovative strategies for teaching historical thinking through movement-based activities that encourage students to think deeply and critically about content. Attendees will discover practical, collaboration-infused lesson ideas and templates that align with curriculum requirements while addressing adolescents’ developmental needs. This interactive approach fosters active learning and enhances classroom management by creating a student-centered, engaging environment that makes learning intellectually rigorous.

Visitors to the conferences can further explore these topics and meet Thinking Nation experts at exhibit booth #114.

Jenson added, “In our polarized climate, finding common ground can be more than a little challenging. That’s why I am truly looking forward to connecting and collaborating with fellow social studies leaders and educators at the NSSLA and NCSS conferences. These events offer incredible opportunities for professional growth, and I am eager to be reinspired and reenergized in our task of cultivating informed and engaged students. Thinking Nation is committed to advancing social studies education by providing educators with tools and strategies that cultivate critical thinking and inquiry skills among students. These presentations underscore Thinking Nation’s dedication to building a generation of informed and active citizens.”

For more information on Thinking Nation’s innovative approach to fostering historical thinking in social studies education, visit thinkingnation.org. To donate and support the organization’s work to transform social studies classrooms across the country, go to thinkingnation.org/donate.

About Thinking Nation
Thinking Nation is a national 501(c)(3) committed to empowering students through inquiry by transforming social studies education from content memorization to an historical thinking discipline. We believe that education is our greatest equalizer, and that every student, regardless of zip code or socio-economic background, deserves access to learning practices that reflect the diversity of identities, histories, contributions, and experiences to support enriched educational opportunity, equity, and success for all. Thinking Nation currently serves more than 35,000 students in 16 states and the District of Columbia. For more information about Thinking Nation or to become a part of this transformative initiative, please visit thinkingnation.org

Media Contacts
Laura Wessells and Martha Holler
ShinePR for Thinking Nation
ThinkingNation@shinepr.com

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Tinuiti Receives Highest Possible Scores in Media Planning, Measurement and Attribution Criteria in First-Ever Media Management Services Report by Top Global Research and Advisory Firm

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Tinuiti is the only agency to receive the highest possible score in the Media Planning criterion

NEW YORK, Nov. 13, 2024 /PRNewswire/ — Tinuiti, the largest independent full-funnel marketing agency across the media that matters most, has been named a ‘Strong Performer’ among the most significant media management services providers in The Forrester Wave™: Media Management Services, Q4 2024. The report cites Tinuiti’s “next best customer” approach and focus on business impact, assigning Tinuiti the highest possible scores in the Media Planning, Measurement and Attribution, and Pricing Flexibility and Transparency criteria.

Tinuiti attributes these scores to Tinuiti’s audience and media planning approach, TAPS, and Tinuiti’s proprietary measurement suite, Bliss Point by Tinuiti—which includes products such as Rapid Media Mix Modeling (rMMM), Incrementality, Forecasting, In-store Sales Lift, Creative Insights, and Brand Equity-as the platforms and process that have led to best-in-class- approach.

The report, authored by Jay Pattisall, Vice President, Principal Analyst at Forrester Research, identified, researched, analyzed, and scored the 12 most significant digital global media management service providers via a 22-criterion evaluation assessing each provider’s Current Offering and Strategy.

Jeremy Cornfeldt, President at Tinuiti, said: “To deliver true full-funnel success, brands must combine deep channel expertise with sophisticated audience and media planning. Tinuiti is the only agency to receive the highest score in the Media Planning criterion, with the Forrester report citing “Tinuiti excels in media planning through a next best customer approach, powered in equal parts by its TAPS planning process and proprietary Bliss Point technology.” To us, this long-awaited Forrester Wave report reinforces Tinuiti’s commitment to ongoing innovation and evolution—and that’s exactly what we set out to demonstrate.”

Tinuiti received the highest scores possible (5/5) in three criteria:

Media planning: “Tinuiti excels in media planning through a ‘next best customer approach,’ powered in equal parts by its TAPS planning process and proprietary Bliss Point technology.”
Measurement and attribution: Our measurement suite, Bliss Point by Tinuiti, sits at the center of our strategic process and fuels our teams to recognize real-time insights and actions.
Pricing flexibility and transparency: “[Tinuiti] boasts a superior pricing model with performance-based, time-and-materials, and SaaS-fee commercial models.”

Officially unveiled earlier this year, Bliss Point by Tinuiti is a suite of patented measurement technology designed to help marketers achieve the optimal level of investment to maximize impact and efficiency. In conjunction with Bliss Point, TAPS, fuels an integrated marketing approach, working in lock-step with Rapid Media Mix Modeling (rMMM) to quantify the audience opportunity and consumer journey by driving upper-funnel success. Powered by TAPS, Tinuiti’s strategic process is a recursive cycle beginning with the highest-fidelity customer data, which is used to develop insights from existing customers. This enables optimized strategies and tactics across transaction, attention and persuasion, and collectively delivering the next best customer.

The report by Jay Pattisall, Vice President, Principal Analyst at Forrester Research, said: “Tinuiti is a good fit for traditional enterprise brands applying growth marketing tactics and digital-native, direct-to-consumer brands entering measurable mass marketing.”

In the past five years, the agency has experienced tremendous growth, including three major transformations: a structural redesign to a client-centric model, new brand repositioning to reflect full-funnel capabilities and product-led approach, and the launch of Bliss Point by Tinuiti, the agency’s proprietary technology suite. During this period, Tinuiti’s Media Agency of Record revenue has tripled, proving that the agency’s product-driven, full-funnel performance model is exactly what brands need.

For four decades, Forrester Research has given business and technology leaders the information necessary to accelerate growth and make confident, informed decisions. Read The Forrester Wave™: Media Management Services, Q4 2024 here.

About Tinuiti
Tinuiti is the largest independent full-funnel marketing agency in the US across the media that matters most. Tinuiti has $4 billion in digital media under management and more than 1,200 employees. The agency’s patented tech, Bliss Point by Tinuiti, measures what marketers previously struggled to measure, delivering unprecedented clarity in today’s murky marketing world to get brands to their Marketing Bliss Point. Tinuiti’s product-led approach gives brands an edge in – and across – every channel. With industry-leading expertise in Commerce, Search, Social, TV, and more, Tinuiti drives meaningful, measurable business outcomes for brands. For more information visit https://tinuiti.com/.

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