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Financing strengthens OrganOx to expand its leadership position in organ technology

Oxford, England and Madison, New Jersey, February 24, 2025 - 

OrganOx Ltd., a leading organ medical technology company, successfully completed a $142 million primary and secondary equity financing to accelerate growth opportunities for its metra® platform technology in the large and high growth organ technology global market. The oversubscribed round was led by new investor HealthQuest Capital with support from existing OrganOx investors BGF and Lauxera Capital Partners, along with additional new investors Sofina, Soleus Capital, and Avidity Partners. Existing OrganOx investors include the University of Oxford, Technikos, the Oxford Technology and Innovations Fund, and Longwall Ventures.

Approved in the U.S., Europe, Canada, and Australia, the OrganOx metra® is a normothermic machine perfusion (NMP) platform technology that has been utilized in over 5,000 liver transplants to date. It keeps donor livers in a metabolically active state outside the body, providing transplant teams the opportunity for functional assessment of the organ prior to transplant and leads to an increased number of organs available for transplant. The company also has an investigational metra® technology for kidney transplants which is expected to soon begin U.S. clinical trials. Further, in partnership with eGenesis, Inc., OrganOx expects to begin a first-in-human clinical study of the use of its metra® technology combined with eGenesis’ genetically engineered porcine livers to support patients with acute-on-chronic liver failure.

“Organ disease and failure represent a large unmet need in healthcare, and we are excited to partner with HealthQuest Capital and the outstanding investor syndicate to work together to improve patient care and outcomes,” said Oern R. Stuge, MD, MBA, and Executive Chairman at OrganOx.

“We’re thrilled to back OrganOx as they advance a technology platform that successfully addresses the quadruple aim of healthcare, benefitting patients, healthcare providers, and global societal health, in a manner that is cost-neutral to the standard of care,” said Garheng Kong, MD, PHD, and Founder/Managing Partner at HealthQuest Capital.

“OrganOx’s financial profile is unparalleled, and partnering with leading investors in this transaction – new and existing – further strengthens us to support the success of our current customers, to expand our customer base, and to enter new markets,” said Steve Deitsch, Chief Financial Officer at OrganOx.

“BGF is proud of our investment in OrganOx and its tremendous performance since our first investment in 2019, and we are pleased to invest in the company again, together with the impressive group of assembled investors,” said Tim Rea, Co-Head of Early Stage at BGF.

“It has been a privilege putting this distinctive syndicate of healthcare specialist investors together,” said Samuel Levy, Founding Partner, Lauxera Capital Partners. “We have the technology, team, and financial firepower to drive the company’s next chapter.”

Piper Sandler acted as exclusive financial advisor and Latham & Watkins acted as legal counsel to OrganOx in this transaction.

Medical Device

OrganOx Completes $142 Million Equity Financing Led by HealthQuest Capital

2025

Healthcare IT

HealthQuest Capital selected to GrowthCap’s top growth equity firms of 2024

WHITE PLAINS, N.Y., Dec. 23, 2024 — Royal Health Inc, a leading provider of advanced radiology software and workflow solutions, today announced the successful close of a minority investment, led by HealthQuest Capital, a leading growth capital firm focused on investing in transformative healthcare companies. Although the funding amount remains undisclosed, this recapitalization resulted in a near eightfold increase in enterprise valuation since the entry of Royal Health’s 2019 investors.

This strategic investment will enable Royal Health to scale its operations. It will also enhance the company’s technology offerings. Additionally, it will support expansion in both U.S. and international markets.

Royal Health is renowned for pioneering solutions that optimize radiology workflows and elevate patient care. The company is well-positioned to lead innovation in an industry experiencing rapid transformation.

Peter Nassif, CEO and Founder of Royal Health Inc, commented:



“This partnership with HealthQuest Capital represents a significant milestone for Royal. Their expertise and shared commitment to advancing healthcare align perfectly with our mission to revolutionize radiology with smarter, more efficient solutions. This investment will allow us to accelerate delivering exceptional value to imaging centers, healthcare providers and patients”

HealthQuest Capital’s investment reflects its confidence in Royal Health’s ability to address critical challenges in radiology, including operational efficiency, staffing shortages, and improving the patient’s experience.

Sharath Reddy, Partner at HealthQuest Capital, stated:



“Royal Health Inc is at the forefront of transforming radiology with cutting-edge technology that enhances workflows and delivers better outcomes for both patients and providers. We’re proud to support their continued growth and innovation as they redefine the future of radiology.”

The investment will drive advancements in Royal Health’s product portfolio. It will also accelerate research and development efforts. Additionally, it will enhance the company’s ability to support healthcare providers navigating complex radiology landscapes.

“This marks an exciting new chapter for Royal Health. With HealthQuest Capital’s partnership, we are poised to accelerate innovation, expand our reach, and continue delivering cutting-edge solutions that transform radiology. Together, we’ll empower providers to operate more efficiently and improve the patient experience, shaping the future of healthcare.”

Royal Health Inc delivers innovative, cloud-based workflow solutions tailored for healthcare providers, particularly in radiology. With a full suite of integrated tools spanning the entire radiology workflow—from pre-visit processes through to revenue cycle and analytics—Royal Health enables organizations to streamline operations and elevate quality of care. Royal Health is known for its customer-focused approach and scalable solutions. The company is dedicated to driving efficiency and reliability for healthcare providers of all sizes including both independent facilities and complex, multi-site systems.

HealthQuest Capital is a private asset firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry.