Baxter International Inc. (NYSE: BAX) today announced that the company
has successfully completed the acquisition of Gambro AB, a privately
held global medical technology company and leader in dialysis products
based in Lund, Sweden. The transaction further enhances Baxter’s global
renal leadership and provides the company with a comprehensive product
and therapies portfolio to meet the needs of patients in the large and
growing dialysis market.
''The combination of these two respected renal leaders – Baxter and
Gambro – will enable Baxter to better serve healthcare providers and
patients through a collective offering of innovative renal products and
therapies,'' said Robert L. Parkinson, Jr., chairman and chief executive
officer of Baxter. ''Together, we will advance the state of dialysis
care for patients with kidney disease worldwide.''
The acquisition provides a number of long-term growth opportunities for
Baxter around the world. With a broad and complementary dialysis product
portfolio and global footprint, Baxter can accelerate product sales in
established markets such as Europe, where Gambro has an extensive
presence. Baxter will also expand Gambro’s reach in high-growth regions
of Latin America and Asia-Pacific, where Baxter has steadily grown its
peritoneal dialysis (PD) business. In addition, Baxter will build upon
its core portfolio and pipeline of investigational home hemodialysis
(HD) and automated PD systems by adding Gambro’s dialyzers, devices and
dialysis solutions, highly innovative and next-generation monitors, and
acute therapies to treat patients with serious kidney, liver and lung
conditions.
Brik Eyre has been named president of the combined Renal business and
has been elected a corporate officer of Baxter by the company’s Board of
Directors. In his role, he will report to Robert M. Davis, president of
Baxter’s Medical Products business. Eyre joined Baxter in 2008 and
previously served as the general manager of U.S. Medication Delivery.
Prior to this role, Eyre served as general manager for Baxter’s
BioPharma Solutions business.
The total cash consideration for the transaction was approximately $3.9
billion USD. The transaction was financed through a combination of cash
generated from overseas operations and debt issuances. The impact of the
acquisition was included in Baxter’s third quarter and full-year 2013
guidance.
About Baxter
Baxter International Inc., through its subsidiaries, develops,
manufactures and markets products that save and sustain the lives of
people with hemophilia, immune disorders, infectious diseases, kidney
disease, trauma, and other chronic and acute medical conditions. As a
global, diversified healthcare company, Baxter applies a unique
combination of expertise in medical devices, pharmaceuticals and
biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning Baxter’s
acquisition of Gambro AB and outlook for 2013. The statements are
based on assumptions about many important factors, including the
following, which could cause actual results to differ materially from
those in the forward-looking statements: the company’s ability to
successfully integrate Gambro, realize the anticipated benefits from the
acquisition in the amounts and at the times expected and generate the
sales included in the company’s outlook for 2013; demand for and market
acceptance of new and existing products; actions of regulatory bodies
and other governmental authorities; changes to applicable laws and
regulations; product development risks; product quality or patient
safety concerns; the impact of global economic conditions on the company
and its customers and suppliers; and other risks identified in Baxter’s
most recent filing on Form 10-K and other SEC filings, all of which are
available on Baxter’s website. Baxter does not undertake to
update its forward-looking statements.
Copyright Business Wire 2013