Getinge Acquires 68th Company to Advance Fundamental Research in Biopharmaceuticals

Recently, VCBeat (WeChat ID: vcbeat) learned via PR Newswire that Swedish medical company Getinge has announced the acquisition of Dutch company Applikon Biotechnology BV for $89.75 million. Applikon is a biotechnology company specializing in the research, development, and manufacturing of bioreactors for antibodies, vaccines, biological enzymes, and other products. This acquisition will facilitate Getinge’s growth in the life sciences sector.

Getinge is a global leader in medical technology, primarily serving suppliers, patients, and caregivers within the healthcare system. Getinge provides comprehensive medical services ranging from hospital infrastructure planning to medical equipment, therapies, and treatment solutions. The company is committed to helping clients identify issues at an early stage, enhancing clinical and economic outcomes, and tracking and supporting client decision-making. Its extensive manufacturing footprint spans seven countries across three continents, with subsidiaries in the United States, China, Sweden, France, Germany, Turkey, and Poland. Currently, Getinge employs more than 10,000 people worldwide.

Carl Bennet, Chairman of Getinge, was born in Sweden in 1951. He holds a Bachelor’s degree in Economics and a Master’s degree in Business Administration. Through his firm, Carl Bennet AB, he has successfully invested in three major global companies: Lifco, Getinge, and Elanders. Mr. Bennet’s involvement ushered in a new era of global expansion for Getinge in the healthcare sector. Under his leadership, Getinge acquired 15 different companies specializing in infection control and sterilization, establishing itself as a leading enterprise in the global surgical systems market.

Mattias Perjos, the current CEO and Chairman of Getinge, holds a Bachelor’s degree in Engineering Management. Prior to joining Getinge, he worked at FlexLink, an automated production service provider, where he spent nine years advancing from Product Manager to CEO. This steady career progression enhanced Mr. Perjos’ strategic insight and management capabilities. Subsequently, he served as CEO of Coesia S.p.A., a global industrial packaging services provider, for nearly five years, leading the company to become a leader in automated machinery and packaging materials, industrial process solutions, and precision gears.

In 1904, Swedish entrepreneur Olander Larsson began producing agricultural machinery in the town of Getinge, Sweden, and named the company after the town. Getinge’s business flourished and expanded rapidly, soon extending its reach beyond Sweden’s borders.

1932 was a significant turning point, at which time theGetinge Makes Its Debut in the Healthcare Industry, Commencing Production of Sterilization Equipment. In the 1960s, Electrolux, a global home appliance manufacturer, acquired Getinge. Officially becoming part of the home appliance manufacturing giant, Getinge embarked on global expansion by leveraging its extensive international network resources.

In 1989, Swedish entrepreneurs Rune Andersson and Carl Bennet acquired Getinge from Electrolux. This marked the beginning of a new era of expansion and development for the company. Over the subsequent decades, Getinge expanded across Europe and the Americas, acquiring more than 15 different infection control and sterilization companies, therebyGetinge is a global leader in the field of surgical systems.。

In 1993, Getinge was listed on the Stockholm Stock Exchange.

From 2000 to 2003, Getinge began to enter the operating room field, successively acquiring several giants in surgical equipment such as Maquet (an innovative company in operating tables), Jostra (cardiopulmonary machines), and Siemens LSS (ventilators), significantly strengthening its service quality.Enhancing Getinge’s Competitiveness in Critical and Acute Careand more patient-centered.

In 2007, Getinge announced the merger of its acquired medical solutions provider Arjo and medical equipment provider Huntleigh Technology PLC to form a new company, ArjoHuntleigh. The core business philosophy of ArjoHuntleigh is to provide professional medical solutions to caregivers, facilitating the delivery of high-quality, comprehensive healthcare services to patients with limited mobility and related conditions. The establishment of the new company marksGetinge’s Expansion in Derivative Care: Becoming a Global Leader in Patient Care, Wound Care, and Patient Hygiene。

Since 2008,Getinge Begins Further Expansion of Its Footprint, Entering the Field of Cardiology, having successively acquired cardiac and vascular surgery divisions such as those of Datascope, Atrium, and Boston Scientific, Getinge can now fully meet the needs of the operating room.

Since its listing in 1993, Getinge has achieved continuous sales growth through organic development and ongoing acquisitions. Getinge has gradually formed aSurgical System、Critical Care and the Cardiovascular SystemandExtended Careas the three key strategic business areas. In 2016, the integration of these three independent business units marked another significant step forward for Getinge. In 2017, Getinge announced the spin-off of its subsidiary Arjo and its listing on the NASDAQ stock exchange.

Getinge’s Development History

Getinge’s business scope encompasses medical devices, hospital equipment, healthcare solution design for hospitals, and other medical services, including leading investment and financing enterprises. The company’s development history demonstrates that Getinge is a typical example of a corporation that has expanded its economic footprint by acquiring innovative companies in specialized fields.

Getinge Product Overview

Among Getinge’s extensive portfolio of medical products and services, Surgical Systems, Acute Care & Cardiovascular Systems, and Extended Care represent the company’s three strategic focus areas, each closely tied to three major milestones in Getinge’s history. These service lines are tailored for hospitals, aiming to empower healthcare professionals to deliver more convenient and high-quality care to patients.

Surgical System: Sterilization, Cleaning, and Disinfection and Surgical Support Systems

Critical Care and the Cardiovascular System: Surgical Lights, Operating Tables, Surgical Irrigation, Intra-Aortic Balloon Pumping, and Off-Pump Cardiac Surgery

Extended Care: Anesthesia, Advanced Monitoring, Extracorporeal Life Support, and Endoscopic Vessel Harvesting

Among them,Critical care and cardiovascular systems have consistently accounted for more than 50% of the company's revenue., which is the company's primary source of revenue.

How to Become a Leader in a Niche Medical Sector: Innovation Is the Primary Challenge for Enterprises. However, innovation is rarely achieved overnight; it often takes years or even decades to bring about disruptive innovations in products and business models, thereby establishing industry leadership.

Getinge offers a different answer by acquiring high-potential innovative companies within the target industry, integrating them with its existing operations to establish new subsidiaries that serve its strategic interests, thereby rapidly gaining a foothold in new fields.

Since acquiring its first infection control company, Stirn, in 1993, Getinge has acquired a total of 68 companies to support its three core business areas: Surgical Systems, Intensive Care and Cardiovascular Systems, and Extended Care.

Expanding into surgical systems was Getinge’s first strategic direction in the healthcare sector and a key decision made after Carl Bennet joined the company. To date, Getinge has acquired more than 15 infection control and sterilization companies across the Americas and Europe, aiming to ensure efficient aseptic operations for healthcare professionals within surgical systems and to safeguard surgical procedures.

In addition, Getinge has developed a surgical support system. It is a set of specialized operating table accessories focused on proper patient positioning. These assistive devices are easy to use, expand the applications of general-purpose operating tables, and improve ergonomics for the entire surgical team.

Getinge’s market leadership in surgical systems began with the acquisition of Maquet, a giant in surgical instruments. Maquet is an innovator in operating tables, boasting extensive experience in their design and manufacturing. The company created the world’s first electric operating table and the world’s first operating table designed for heart transplants, earning it a prestigious reputation within the industry.

The successful acquisition of Maquet brought Getinge into the field of surgical systems. With the addition of cardiopulmonary bypass machine manufacturer Jostra and ventilator manufacturer Siemens LSS, Getinge has gradually established a strong presence in the critical care sector.

This alone is insufficient. In the field of emergency and critical care, cardiovascular diseases—such as cardiomyopathy, cor pulmonale, and coronary heart disease—have always been a primary focus for healthcare professionals, as these conditions are associated with high case fatality rates, mortality rates, and recurrence rates.

Getinge has acquired cardiac and vascular surgery companies, such as Datascope, Atrium, and Boston Scientific Corporation, to fill its gaps in the field of cardiology. As a result, from precise operating table manipulation to research on surgical diseases of the cardiovascular system, Getinge can meet all requirements in the operating room and provide high-quality services to patients.

Getinge’s Extended Care primarily encompasses patient care and post-acute care, with its products and services provided by its subsidiaries: healthcare solutions provider Arjo and medical device supplier Huntleigh Technology PLC.

Arjo is a healthcare services provider founded in 1957. It was acquired by Getinge in 1997 to become its subsidiary; later, in 2007, it merged with the newly acquired Huntleigh Technology PLC to form the new company ArjoHuntleigh.

ArjoHuntleigh integrates healthcare services and medical device products to provide comprehensive care and post-acute care for patients, aiming to deliver attentive services to those with limited mobility. Every second counts during trauma treatment. Due to the time-sensitive nature of such cases, clinical professionals must provide appropriate emergency care.

Undoubtedly, Getinge stands as a benchmark for successful integrated medical product and service enterprises. With a long history of development, it has gradually expanded its market scope and domains within the healthcare sector. Few would have imagined that Getinge’s origins were entirely unrelated to the medical field.

Products and services in the medical field must withstand the test of time, making professional expertise indispensable. Getinge’s strategy for rapidly acquiring specialized knowledge is to acquire the most promising and innovative companies within the industry. By leveraging its established global network resources, Getinge swiftly and extensively launches medical services and products to capture market share.

Getinge’s acquisition strategy was not a case of blind following; its core philosophy is to serve healthcare institutions such as hospitals, shaping the company’s product portfolio and development direction around the essential “peripheral” equipment required by these facilities. As surgery and patient care are central to healthcare operations, Getinge has focused on extended care, critical care, and cardiovascular systems, expanding its business outward from this core.

The starting point for healthcare institutions is to ensure the sterility of the entire medical system, which is a fundamental prerequisite for performing surgeries and providing care. With its origins in medical devices, Getinge naturally prioritizes this foundational aspect of healthcare services. Ensuring the safety and sterility of surgical systems is one of Getinge’s three key strategic focus areas.

These three key areas form the framework of Getinge’s medical products and services, though they are not exhaustive. Consequently, Getinge has subsequently launched various connectivity services—such as designing healthcare service workflows and facility layouts for medical institutions, conducting basic research in the life sciences sector, bridging healthcare providers with financial institutions, and providing tracking and feedback on patient care services—with the aim of completing a closed-loop healthcare service ecosystem.

Getinge’s business spans three continents, serving over 25,000 hospitals, research institutions, and pharmaceutical companies across 130 countries. The company has established sales offices in 30 countries worldwide, with Getinge China ranking among the top ten in terms of revenue.

Top 10 Countries by Getinge Sales in 2019

In 2004, Getinge established branch offices in Shanghai and Suzhou, China, respectively. These branches are primarily engaged in the research and development and sales of medical devices, such as disinfection and sterilization equipment, physical therapy equipment, and ward care equipment, focusing on Getinge’s core business—the Surgical Systems division. To date, the branches have achieved substantial sales revenue, ranking second in Getinge’s global sales in 2019.