Paxman Coolers
Paxman Coolers (Paxman AB, publ) is a Swedish-listed medical device company that develops and sells cryotherapy-based scalp cooling systems used by hospitals and cancer centers globally to prevent chemotherapy-induced hair loss, with 5,000+ installations across 65+ countries.
- Company typePublic
- Founded1997
- HeadquartersHouston, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Paxman Coolers does
Paxman Coolers (Paxman AB, publ; Nasdaq First North: PAX) is a publicly traded medical device company headquartered in Karlshamn, Sweden, with primary operating subsidiary Paxman Coolers Limited in Huddersfield, UK. Founded in 1997 by Glenn Paxman after his wife experienced chemotherapy-induced hair loss, the company has spent more than 25 years developing and commercializing scalp cooling technology to prevent chemotherapy-induced alopecia. Paxman's core offering is a cryotherapy-based system comprising a compact refrigeration unit that circulates a specially formulated liquid coolant through a flexible, medical-grade silicone cold cap designed to maintain close scalp contact and reduce chemotherapy-induced hair loss via vasoconstriction. The company's products hold regulatory clearances spanning the FDA (all solid tumors, 2018), CE marking under both MDD and MDR, ANVISA, PMDA (Japan), MOFS (Korea), COPEPRIS (Mexico), HSA (Singapore/Malaysia), MDSAP, and ISO 13485. Over 5,000 systems are installed across 65+ countries, with 1,000 systems covering 98% of UK NHS and private hospitals; more than 100,000 patients have been treated.
The portfolio was expanded in June 2025 through the acquisition of Dignitana AB, adding the DigniCap system and consolidating the global scalp cooling market. Paxman is also developing the Paxman Limb Cryocompression System for prevention of chemotherapy-induced peripheral neuropathy (CIPN), with ongoing clinical trials involving National University of Singapore and SWOG Cancer Research Network (100 systems deployed). Revenue is generated primarily through hardware sales of scalp cooling systems to hospitals and cancer treatment centers, supplemented by recurring service, maintenance, and consumables revenue. Distribution combines direct sales (with wholly-owned subsidiaries in the UK, US, Canada, Sweden, and Italy) and an international distributor network (India, France, Spain, Germany). In the United States, the company operates an insurance-based billing model enabled by CPT Category I codes effective January 2026, and has active state-level legislation efforts (West Virginia, Maryland) to mandate insurance coverage effective January 2027. Go-to-market leverages clinical evidence and university research partnerships (University of Huddersfield, University of Leeds, King's College London, Ulster University) as a credibility and adoption mechanism. Q1 2026 group sales were 89.6 MSEK (versus 67.1 MSEK in Q1 2025), with EBITDA of 10.5 MSEK and cash on hand of 106 MSEK; Dignitana contributed 18.9 MSEK to the quarter.
Paxman Coolers firmographics
Firmographics- Name
- Paxman Coolers
- Legal name
- Paxman Coolers Ltd
- Website
- https://paxman.se
- Company type
- Public
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Paxman Coolers (Paxman AB, publ) is a Swedish-listed medical device company that develops and sells cryotherapy-based scalp cooling systems used by hospitals and cancer centers globally to prevent chemotherapy-induced hair loss, with 5,000+ installations across 65+ countries.
- Ownership category
- akta.pro rank
Paxman Coolers industry classification
Industry- Product category
- Medical Devices / Cryotherapy Equipment
- NAICS
- Surgical Appliance and Supplies Manufacturing (339113)
- SIC
- Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Hot/Cold Therapy Services (Cryotherapy/Ice Baths) (HSALAFAH)
- akta.pro secondary industries
- Compression Therapy (Normatec/Pressotherapy) (HSADAKAH), Cryotherapy Services (HSADAKAE)
Keywords
Where Paxman Coolers is headquartered
LocationHeadquarters
- HQ city
- Houston
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
Paxman Coolers business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales, Infrastructure
Revenue model
- Scalp Cooling System Sales: Sale of Paxman Scalp Cooling Systems to hospitals, clinics, and treatment centers globally. The company installs systems and provides ongoing support and consumables.
- Service and Support: Ongoing service, maintenance, and support services for installed systems, contributing to recurring revenue streams.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Paxman Coolers product offering
Product offeringCore offering
Paxman designs, manufactures, and sells cryotherapy-based scalp cooling medical devices used during chemotherapy to prevent hair loss (alopecia). The flagship offering is the Paxman Scalp Cooling System, consisting of a compact refrigeration unit that circulates a specially formulated liquid coolant through a lightweight, medical-grade silicone cold cap worn by the patient. The company also markets the Paxman Limb Cryocompression System for preventing chemotherapy-induced peripheral neuropathy, and following the 2025 Dignitana acquisition, the DigniCap Scalp Cooling System. Systems are installed in hospitals, clinics, and treatment centres globally and supported with clinical training, patient education materials, and ongoing service.
Product overview
Paxman offers a unified portfolio of cryotherapy-based medical devices focused on chemotherapy side effect management. The core offering consists of the Paxman Scalp Cooling System (comprising a refrigeration unit and silicone cold cap) for preventing chemotherapy-induced hair loss, and the Paxman Limb Cryocompression System for preventing peripheral neuropathy. Following the 2025 acquisition of Dignitana, the portfolio was expanded to include the DigniCap Scalp Cooling System. The company also develops a topical agent intended to enhance scalp cooling efficacy. All products are supported by clinical training, patient education materials, and are installed across 5,000+ systems in 65+ countries.
Differentiator
Problem solved
Functional benefit
Brands
- DigniCap: Scalp cooling system brand acquired through Dignitana acquisition in 2025
Products and services
- Paxman Scalp Cooling System A cryotherapy-based medical device comprising a compact refrigeration unit that circulates a specially formulated liquid coolant through a lightweight, medical-grade silicone cold cap to prevent chemotherapy-induced hair loss in patients undergoing chemotherapy for solid tumors. Used by hospitals, cancer clinics, and treatment centres.
- Paxman Cold Cap A lightweight, medical-grade silicone cold cap designed for flexibility to ensure close contact with the patient's scalp; used in combination with the Paxman Scalp Cooling System to deliver optimal hair retention outcomes during chemotherapy.
- Paxman Limb Cryocompression System A cryocompression medical device used for the prevention of chemotherapy-induced peripheral neuropathy (CIPN) in the hands and feet of patients undergoing chemotherapy, addressing an underserved side effect affecting approximately 1.5 million patients at any one time.
- DigniCap Scalp Cooling System A scalp cooling system acquired through the 2025 Dignitana acquisition and now part of Paxman's expanded portfolio, with several thousand installations in hospitals, clinics, and treatment centres worldwide.
Quantifiable outcome
- 50% chance of retaining half of hair with scalp cooling (average across drug regimens)
- +3 more outcomes
Companies that use Paxman Coolers
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Paxman Coolers technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Paxman Coolers partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and minor.
- University of HuddersfieldcoreLong-standing collaborative relationship with the Paxman Research & Innovation Centre at University of Huddersfield. Produced the first ever research paper on cellular response to cold protection from chemotherapy. University awarded 4 stars by Research Excellence Framework. Joint work on new cooling cap and cover design using recyclable and sustainable materials.
- University of LeedscoreCombined mathematical modeling and experimental study on bio-inspired flexible tubular heat exchangers for wearable medical cooling devices. Research funded by Innovate UK through Smart Grant scheme.
- National University of SingaporecoreDevelopment of new approach to combinatorial treatment of chemotherapy-induced peripheral neuropathy. Medical device in final stages of clinical trialing with 100 systems deployed.
- King's College LondoncoreOngoing collaborative relationships for development of devices, cooling caps, scalp cooling treatment and efficacy research.
- Ulster UniversityminorPartnership for cancer care research. Paxman partially funded World Cancer Day conference organized by Cancer Care Research Group within Ulster University's Institute of Nursing and Health Research. Paxman presented on managing chemotherapy-induced alopecia.
- Calderdale and Huddersfield NHS Foundation TrustcorePartnership with University of Huddersfield for health innovation including MRI scanner simulator development. Paxman is expanding operations in Huddersfield.
- SWOG Cancer Research NetworkcoreClinical trials for limb cryocompression system using 100 Paxman Limb Cryocompression Systems, providing evidence for cryocompression methods in treating chemotherapy-induced peripheral neuropathy.
- University of ÇukurovaminorJoint research with University of Leeds and Paxman on bio-inspired flexible tubular heat exchangers for wearable medical cooling devices.
- University of Huddersfield (National Health Innovation Campus)coreExpansion of National Health Innovation Campus with third eco-building expected approval. £55m research centre opened featuring UK's first MRI scanner simulator. Paxman is expanding operations in Huddersfield as part of this innovation ecosystem.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Paxman Coolers competitors and assessment
Company assessmentBroad incumbents
- BTL Group: Global manufacturer of medical and aesthetic devices including cryotherapy equipment. While not focused on oncology supportive care, BTL operates broadly in the cryotherapy device category with overlapping cooling technology.
- Mölnlycke Health Care: Global medical device company with leadership in wound care and surgical supplies sold to hospitals and clinics. Comparable in its B2B hospital sales motion, regulatory footprint, and presence in oncology-adjacent supportive care categories.
- Impact Cryotherapy: Manufactures whole-body and localised cryotherapy equipment used in sports recovery, wellness, and some clinical settings. Adjacent technology and customer base to Paxman's medical-grade cryotherapy platform.
- Baxter International (Hillrom): Global hospital equipment and medical device manufacturer (including acquired Hillrom). Operates broadly across hospital capital equipment channels where Paxman sells scalp cooling systems, making it a relevant indirect competitor for hospital contracts.
Direct peers
- Arctic Cold Caps: Manual cold cap system using dry ice cooling, serving patients seeking to prevent chemotherapy-induced hair loss. Competes with Paxman on price and portability in markets without reimbursement coverage for mechanised systems.
- Penguin Cold Caps: Provides manual, gel-based cold cap systems as a lower-cost alternative to mechanised scalp cooling for chemotherapy patients. Targets the same patient population (chemo-induced alopecia prevention) using a different delivery mechanism, making it the closest non-mechanised substitute for Paxman.
- Wishcaps: Manual cold cap rental service for chemotherapy patients seeking to retain hair during treatment. Competes with Paxman's mechanised approach primarily on cost and convenience for self-administered home use.
- Dignitana (DigniCap): Dignitana's DigniCap system was the other major mechanised scalp cooling system globally and was acquired by Paxman in June 2025. Operates as a Paxman subsidiary and brand but historically competed head-to-head with the Paxman Scalp Cooling System in the US and Europe.
Emerging players
- Game Ready (CoolSystems): Provides cold-and-compression therapy systems for post-surgical and injury recovery, with technology architecture similar to Paxman's limb cryocompression system. Represents an adjacent/overlapping technology platform relevant to Paxman's CIPN cryocompression expansion.
- NICE Recovery Systems: Developer of cold compression therapy devices used in clinical and sports medicine settings. Operates in an adjacent therapeutic area with overlapping cryocompression technology applicable to Paxman's emerging CIPN indication.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Paxman Coolers social profiles
Digital presencePaxman Coolers compliance and trust
Trust signalCompliance7 records
Paxman Coolers financial estimates
Financial estimateRevenue estimate
Valuation estimate
Paxman Coolers leadership team
Management profileNumber of profiles
Profiles12 records
Paxman Coolers subsidiaries and ownership
Company hierarchySubsidiaries6 records
Paxman Coolers funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Paxman Coolers M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Paxman Coolers
What does Paxman Coolers do?
Paxman designs, manufactures, and sells cryotherapy-based scalp cooling medical devices used during chemotherapy to prevent hair loss (alopecia). The flagship offering is the Paxman Scalp Cooling System, consisting of a compact refrigeration unit that circulates a specially formulated liquid coolant through a lightweight, medical-grade silicone cold cap worn by the patient. The company also markets the Paxman Limb Cryocompression System for preventing chemotherapy-induced peripheral neuropathy, and following the 2025 Dignitana acquisition, the DigniCap Scalp Cooling System. Systems are installed in hospitals, clinics, and treatment centres globally and supported with clinical training, patient education materials, and ongoing service.
Is Paxman Coolers a public or private company?
Paxman Coolers is a public company. It is classified as public and is currently operating.
When was Paxman Coolers founded?
Paxman Coolers was founded in 1997. It employs 101 to 250 people.
Where is Paxman Coolers based?
Paxman Coolers is headquartered in Houston, United States, in the North America region.
How does Paxman Coolers make money?
Two revenue lines are on record. Scalp Cooling System Sales are the primary driver. The others are service and Support.
Who are Paxman Coolers's main competitors?
Broad incumbents on record are BTL Group, Mölnlycke Health Care, Impact Cryotherapy and Baxter International (Hillrom). Direct peers are Arctic Cold Caps, Penguin Cold Caps, Wishcaps and Dignitana (DigniCap). Emerging players are Game Ready (CoolSystems) and NICE Recovery Systems.
Does Paxman Coolers have an API?
No public API is recorded for Paxman Coolers.
What industry is Paxman Coolers in?
Paxman Coolers's product category is Medical Devices / Cryotherapy Equipment. Its primary akta.pro industry code is HSALAFAH, Hot/Cold Therapy Services (Cryotherapy/Ice Baths), with a secondary code of HSADAKAH, Compression Therapy (Normatec/Pressotherapy). Its NAICS code is 339113 and its SIC code is 3841.