Fri, 09 May 2025 | MERGER
Paxman Scalp Cooling, a West Yorkshire-based health technology company, is poised to merge with a US counterpart, after an offer from the firm was accepted by shareholders of the target company.
Huddersfield-based Paxman Scalp Cooling is the UK business of listed Swedish parent company Paxman AB. The company has developed technology designed to reduce hair loss in breast cancer patients undergoing chemotherapy and has supplied nearly 5,000 systems to hospitals, treatment centres and clinics globally.
Paxman was founded by Glenn Paxman in 1997 after his wife Sue lost her hair during chemotherapy treatment. Realising there were shortcomings with existing scalp cooling methods, Paxman developed a liquid-based cooling system.
The firm is now set to merge with Texas-headquartered Dignitana, its main rival, in a deal valued at approximately £11.6 million. In March, Dignitana said its board of directors had unanimously recommended that shareholders accept the offer and acceptance has now been received.
According to Paxman, the deal will enable the companies to start a new chapter of co-operative working to advance side effect management for cancer patients globally.
Richard Paxman OBE, Chief Executive at Paxman, commented: "This merger marks a pivotal point in the history of our two companies and the beginning of a brand-new chapter as we unite to form one stronger, unified team. I am truly looking forward to collaborating, connecting, and combining the best of our two organisations, with new perspectives and shared strengths as we move forward.”
"The merger provides exciting growth opportunities, enabling further investment in market expansion and R&D for both companies. Merging the best parts of both Paxman and Dignitana brings not only commercial benefits, but also benefits to both the customer and, of course, ultimately our patients."
The UK MedTech sector continues to see strong levels of dealmaking, driven by new innovations and a need for fresh funding.
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