The disclosure relates to an annular heat exchanger (100) for use in hypothermia treatment, the annular heat exchanger being arranged for exchanging heat with a first fluid contained within a flexible container (150), the annular heat exchanger comprising: a heat exchanging core (110) comprising: an annularly shaped core element (112); a heat exchanging element (120) arranged in contact with an outer surface of said core element; a supporting isolating element (130) mountable inside of the conically shaped core element such that a gap (113) is formed between the inner surface of the core element and an outer surface of the supporting isolating element to allow fitting the flexible container within the gap, wherein heat is exchanged between the first fluid contained within the flexible container and a second fluid contained within the heat exchanging element. The disclosure further relates to a system for hypothermia treatment comprising a conical heat exchanger of the disclosure.