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Garheng Kong named top healthcare investors of 2025 by GrowthCap

2025

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

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

Boston Scientific Announces Agreement to Acquire Cortex, Inc.

2024

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SAN FRANCISCO, July 17, 2025 /PRNewswire/ -- HealthQuest Capital, a private asset firm that provides capital to transformative healthcare companies, is pleased to announce that Terry Shaw, Former President and CEO of AdventHealth, has joined its Industry Advisory Board.

With a distinguished 40-year career in healthcare leadership, Shaw brings extensive expertise in hospital systems, operations, and strategic transformation. As the CEO of AdventHealth, the largest non-for-profit protestant health care system in the United States, he led the organization through significant innovation and delivered on the vision to offer whole-person care for consumers.

"Terry's deep understanding of healthcare operations, combined with his leadership in scaling complex healthcare systems, makes him an invaluable addition to HealthQuest's Advisory Board," said Garheng Kong, Managing Partner at HealthQuest Capital. "Given the recent challenges faced by many hospitals, we are confident his experience and insights will help guide our team and portfolio companies".

Shaw held multiple executive roles at AdventHealth, including Executive Vice President, Chief Financial Officer, and Chief Operating Officer. He also served as a member of the Healthcare Leadership Council and chairman for Premier, Inc.

"I'm excited to join HealthQuest's Industry Advisory Board and support its commitment to advancing healthcare innovation," said Shaw. "HealthQuest's focus on scaling transformative healthcare solutions aligns with my personal passion for improving patient care and operational efficiency."

With his addition, HealthQuest further strengthens its Industry Advisory Board with industry leaders committed to advancing impactful healthcare solutions.

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. For more information, visit 

HealthQuest Capital Welcomes Terry Shaw to Industry Advisory Board

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