Healthcare

Bryan, Garnier & Co acts as Sole Financial Advisor to XVIVO on the acquisition of the Machine & Perfusion division from Avionord S.r.l.

On 1 August 2022, XVIVO entered into an agreement to acquire all shares of the carved-out Machine & Perfusion division of Avionord S.r.l.

Avionord S.r.l. is XVIVO’s distributor in Italy with approximately 90 per cent of its revenue generated by perfusion machines purchased from XVIVO. Through the acquisition, XVIVO strengthens its European presence and accelerates its service offering to drive increased penetration of machine perfusion.

In addition to the acquisition, XVIVO enters into a separate royalty agreement with Avionord S.r.l. related to its transportation device for static cold (hypothermic) storage of all major organs called GISTO. The device has an integrated traceability function with real-time monitoring of storage temperature and geographic location. GISTO has recently been approved for launch in CE-marked countries. This marks another landmark transaction for Bryan, Garnier & Co’s healthcare practice and is a further demonstration of its expertise in the global medical technology sector.

Bryan, Garnier & Co acts as Sole Financial Advisor to XVIVO on the acquisition of the Machine & Perfusion division from Avionord S.r.l.

The division has been carved out to a new legal entity, XVIVO S.r.l., offering a unique combined product and service model well suited to accommodate the increasing service trend visible across the European machine perfusion market.

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. Its 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.

Avionord is an Italian company headquartered in Milan. The company consists of three busines units; private aviation with its own fleet of learjets, transportation of organs by air in connection to transplantation and machine and perfusion services for transplantation. In the machine and perfusion division, Avionord distributes mainly XVIVO machines throughout Italy through a subscription service model where hospitals receive support from highly experienced perfusionists in connection to each transplantation.