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XVIVO conducts a commercial integration of STAR Teams in the US – strengthening the service offering
XVIVO acquired STAR Teams, an organ recovery service in the US, in November 2021. To meet the rapidly growing demand for recovery services in the US and in order to strengthen the organization’s operations and commercial offering, XVIVO will now conduct an integration of STAR Teams under the XVIVO brand. A one-time cost associated with the integration is estimated to approximately SEK 22 million in total, whereof SEK 11 million will occur in the second quarter of 2023 and SEK 11 million will occur in the second half of 2023. This integration initiative strongly supports XVIVO’s strategic objective to become the “preferred partner in the transplant process”.
Technologies for preserving and assessing organs outside the body are currently established in countless transplant clinics around the world. However, many transplant clinics face logistical and capacity obstacles that they are unable to overcome. This ultimately leads to underutilization of donated organs and many lives are lost. Outsourcing services such as organ recovery, perfusion and coordination to specialized service providers have been proven to help transplant centers overcome these obstacles.
In the US, XVIVO’s thoracic organ recovery service is established and the demand is continuously increasing. The opportunity to offer organ recovery services to transplant centers that will be participating in the upcoming heart preservation trial is currently being assessed. The integration will develop our offers on the US market into one strengthened value proposition under one brand and one organization.
“We always work close to our customers and listen to the needs that arise in the market. This integration of STAR Teams will make us an even stronger partner as we develop and refine the transplant process in collaboration with our customers. At the end of the day, we have a common goal that nobody should die waiting for a new organ”, says Christoffer Rosenblad, XVIVO CEO.
June 21, 2023
Christoffer Rosenblad, CEO
XVIVO Perfusion AB (publ)
For further information, please contact:
Christoffer Rosenblad, CEO, +46 73 519 21 59, e-mail: firstname.lastname@example.org
Kristoffer Nordström, CFO, +46 73 519 21 64, e-mail: email@example.com
Founded in 1998, XVIVO is the only medical technology company dedicated to extending the life of all major organs – so transplant teams around the world can save more lives. Our solutions allow leading clinicians and researchers to push the boundaries of transplantation medicine. XVIVO is headquartered in Gothenburg, Sweden, and has offices and research sites on two continents. The company is listed on Nasdaq and has the ticker symbol XVIVO. More information can be found on the website www.xvivogroup.com.
This information is information that XVIVO Perfusion AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-06-21 18:33 CEST.