Terumo Taps Veteran Exec to Lead OrganOx's Global Transplant Tech Push

OXFORD, United Kingdom – May 14, 2026 – OrganOx, a pioneer in organ preservation technology, has appointed Terumo Corporation veteran Naoya Iwata as its new Chief Executive Officer & President, a move signaling a strategic acceleration of its global expansion plans. The appointment, effective June 1, 2026, places a seasoned executive from its parent company at the helm to guide the next phase of growth for its revolutionary normothermic machine perfusion (NMP) platform.

Iwata steps in as former CEO Craig Marshall and President, North America Rupa Basu transition to advisory roles. The leadership change comes less than a year after Japanese medical technology giant Terumo finalized its $1.5 billion acquisition of OrganOx, underscoring a clear intent to deepen the integration and scale the life-saving technology worldwide.

A Strategic Appointment for Global Growth

Naoya Iwata brings over two decades of international leadership experience from within Terumo Corporation, where he has held roles across sales, marketing, strategic planning, and business development. His extensive background is marked by a deep expertise in scaling global medical technology organizations and driving commercial growth. Most recently, Iwata served as the influential Chief of Staff to Terumo's CEO, Hikaru Samejima, a position that gave him a comprehensive view of the company's strategic initiatives across its entire portfolio.

This appointment is a clear strategic play to leverage Iwata's intimate knowledge of Terumo's global operations and his experience in commercial expansion. He is tasked with steering OrganOx through a pivotal period of growth, capitalizing on the increasing global demand for its innovative technology that keeps donor organs alive and functional outside the body.

“I am honored to take on the role of CEO & President of OrganOx at such a pivotal moment in transplantation,” Iwata said in a statement. “OrganOx has built extraordinary technologies and teams that are helping transform organ transplantation and expand access to life-saving technology for patients around the world. I look forward to working alongside our partners as we continue to scale the business, support innovation, and help improve outcomes for even more transplant recipients.”

The Terumo Vision: Integrating Innovation

Terumo's acquisition of OrganOx, finalized in October 2025, was a landmark entry for the Tokyo-based conglomerate into the burgeoning organ transplantation market. The move is a cornerstone of Terumo's long-term "GS26" growth strategy, which emphasizes a shift "From Devices to Solutions." OrganOx, with its cutting-edge NMP platform, represents a perfect fit for this vision, offering a comprehensive solution to some of transplant medicine's most pressing challenges.

The relationship was cultivated well before the acquisition, with Terumo's corporate venture capital arm making a strategic investment in the Oxford-based company in early 2025. Terumo's stated goal is to combine its own expertise in medical device design and its vast global infrastructure with OrganOx's pioneering technology. This synergy is intended not only to accelerate commercial growth into new markets but also to bolster research and development. OrganOx is already developing a similar NMP device for kidneys, with commercialization anticipated around 2030, an effort likely to be bolstered by Terumo's resources.

Transforming Transplants with Technology

At the heart of OrganOx's value proposition is its OrganOx metra® platform. This technology represents a paradigm shift from the decades-old standard of static cold storage (SCS), where organs are packed in ice. Instead, the metra® uses normothermic machine perfusion to maintain a donor liver at a normal physiological temperature, continuously supplying it with oxygenated blood, nutrients, and medications. This process keeps the organ metabolically active and functional, as if it were still in a human body.

The clinical benefits have been substantial. The metra® has been used in over 10,000 liver transplants worldwide, with clinical trials demonstrating a significant reduction in early allograft dysfunction—a key indicator of organ injury—compared to cold storage. The technology allows for preservation times that are 75% longer than SCS, a critical factor that dramatically expands the geographic range for organ retrieval and reduces logistical pressures. Crucially, it allows surgeons to assess the organ's function before transplantation, enabling them to use marginal or higher-risk organs that might otherwise be discarded. This has led to a reported 30% increase in transplant activity in UK centers where the device is used.

With approvals in the U.S., Europe, Australia, and Canada—including a recent FDA clearance for operation during air transport—the metra® is steadily becoming an indispensable tool in the fight to reduce organ transplant waiting lists.

Navigating a Competitive and Growing Market

The leadership transition at OrganOx comes as the market for organ preservation technologies is experiencing explosive growth. The global NMP market was valued at over $2 billion in 2026 and is projected to exceed $6.5 billion by 2033, driven by the rising prevalence of chronic diseases, an aging population, and a greater awareness of transplantation benefits.

OrganOx is a key player in this dynamic landscape, but it faces stiff competition. U.S.-based TransMedics Inc. offers its own Organ Care System (OCS) for heart, lung, and liver transplants. Other significant competitors include Sweden's XVIVO Perfusion AB and Organ Recovery Systems Inc. Each company is racing to innovate and capture market share in a sector poised for major expansion.

Iwata's appointment is a strategic countermove, positioning a leader with deep global commercialization experience to navigate this competitive environment. Terumo's backing provides OrganOx with the financial muscle and global network needed to compete effectively and solidify its market leadership, particularly in the liver transplant segment where its technology has already proven transformative.

A New Chapter Built on a Strong Foundation

In his statement, Iwata paid tribute to his predecessors, Craig Marshall and Rupa Basu, thanking them for their "leadership, dedication, and critical contributions." Their impact, he noted, "cannot be overstated." Under Marshall's tenure as CEO since 2017, OrganOx evolved from a University of Oxford research spin-out into a commercial-stage powerhouse, culminating in the successful acquisition by Terumo.

Basu, who joined in 2022 as Global Chief Commercial Officer and President, North America, was instrumental in launching and scaling the company's presence in the vital U.S. market. Her deep experience in the American healthcare industry was crucial for navigating the regulatory and commercial complexities of the world's largest medical device market.

The decision for both Marshall and Basu to remain as advisors ensures a smooth transition and provides the new leadership with continued access to their invaluable institutional knowledge and strategic insights. This continuity is vital as OrganOx, now more deeply integrated with Terumo, embarks on its next chapter. The appointment of Naoya Iwata signals that this new chapter will be defined by an aggressive and strategic pursuit of global market dominance, built upon the strong scientific and commercial foundation established over the last decade.