Terumo Buying Organ Tech Provider OrganOx for $1.5 Billion

Terumo Corp. has agreed to buy UK-based organ medical tech company OrganOx Ltd. in a deal valued at around $1.5 billion, seeking entry into the organ transplant field.

The Tokyo-based maker of medical devices and thermometers said on Monday it will make OrganOx a wholly owned subsidiary. Terumo had previously invested in OrganOx, which develops technology used to keep donor livers metabolically active to extend preservation, via its venture capital arm.