Getinge is a Swedish medical technology company specializing in life-saving equipment, including ventilators, ECMO therapy, operating tables, infection prevention solutions, and life sciences technologies.
Getinge has a long history in medical technology. What is the company best known for?
Getinge is particularly known for ventilation, which became even more prominent during the pandemic when we played a critical role in supplying ventilators globally. Another major area is ECMO (extracorporeal membrane oxygenation) therapy—we are the inventor of this therapy and hold over 50% market share in this space. Additionally, operating tables are a hallmark of Getinge, with about one in four operating tables worldwide coming from us. Even though we are over 120 years old, this innovation dates back nearly 200 years, originating from a company we acquired 25 years ago.
Infection prevention is another cornerstone of Getinge. It was the catalyst for our transition from agriculture to medical technology in 1932, and it remains a crucial part of our identity today. These areas—ventilation, ECMO therapy, operating tables, and infection prevention—are what people most commonly associate with Getinge.
How significant a priority for Getinge today is the integration of digital solutions across its portfolio?
It is a key priority. This includes connected operating tables, remotely controlled devices, and clinical decision support tools. Innovation in this space is a major focus as we ensure our offerings align with the industry's evolving demands.
We have already commercialized AI-driven solutions, particularly in digital health. For example, we use AI and machine learning in hospital surgery planning, optimizing patient flow and sterile goods logistics. We also incorporate AI features into clinical decision support systems, having been one of the first—if not the first—companies to receive 510(k) approval in the U.S. for such software. AI is now a component of nearly every R&D project we undertake, enhancing patient outcomes through advanced technology.
You recently acquired Paragonix Technologies, a U.S.-based company specializing in organ transport…
This is an exciting new field for us. We have been monitoring the transplant sector since 2017-18, and Paragonix stood out as a leader. By last year, the segment had matured enough to make an investment compelling. Growth drivers include technological advancements and regulatory changes that increase the availability of organs for transplantation.
We have now owned Paragonix for over four months and are excited about its strong growth and future plans. This is a high-growth area for Getinge. Our global infrastructure—especially outside the U.S.—will help make this technology accessible to more people. Additionally, our expertise will be instrumental in developing the next generation of Paragonix products.
Getinge had record sales last year. Given your good financial situation, what is in store for the coming year in terms of expanding the company’s capabilities?
We are strategic about what we disclose, but our next-generation transplant care products will focus on organ perfusion. Our kidney vault, launched at the end of last year, already includes perfusion functionality, and we see applications for other organs as well. Enhancing perfusion capabilities extends organ viability, allowing for longer transport times and better outcomes for recipients.
On a global scale, we are testing markets in Europe where Paragonix has had limited presence. The product is CE-marked, meaning it is approved, but expansion in Europe was not a focus due to the company's U.S.-centric operations. With Getinge's European infrastructure, this will be a key focus for the latter half of 2025.
What about your geographic expansion plans?
The U.S. is already our largest market, accounting for over one-third of our sales, yet we are still underpenetrated compared to competitors. Since the U.S. represents about half of the global medical device market, we see significant growth potential there. Thus, the U.S. remains our top priority.
Beyond the U.S., Europe remains essential, and Asia—especially China—has been a key driver for years. While post-pandemic challenges exist, healthcare demand in China ensures it remains an important market. India is another strong growth region, and we have seen great momentum there. Additionally, Southeast Asia—countries like Vietnam and Indonesia—is high on our priority list for expansion.
Do you feel that trade wars and regionalization could impact your growth plans?
I do have concerns. My career has been shaped by increasing globalization, and seeing a shift away from that is disappointing. A decline in globalization is not beneficial for economic growth or access to healthcare. Geopolitical tensions add another layer of uncertainty, dampening growth and investment.
That said, healthcare and medical devices are typically excluded from tariffs and sanctions because they are essential for saving lives. Still, these trends introduce complexity and potential barriers to continued growth. While challenges exist, we remain committed to our expansion strategy.
Getinge is also active in cell and gene therapies. Could you share insights on this part of your business?
One of our three business areas focuses on life sciences, particularly supporting pharmaceutical companies and research organizations. We provide bioreactor systems that enhance cell growth, helping clients shorten time-to-market while optimizing yield—critical given the high cost of drug development.
Additionally, we offer sterile transfer solutions to prevent contamination in sensitive drug manufacturing processes. In some cases, we also assist customers with regulatory compliance and facility upgrades, ensuring they meet stringent industry standards.
Where do you see Getinge three years from now?
We aim to sustain and build on our current growth momentum, strengthening our leadership in respiratory therapies, acute heart-lung support (including ECMO), and the operating room (OR) ecosystem. The OR generates 70-80% of a hospital's value, and we want to be a key partner in optimizing that space.
Additionally, we are advancing new developments. We also aim to expand our transplant care portfolio. In life sciences, as the investment climate in pharma rebounds, we want to be a trusted partner supporting our customers’ next phase of growth.
