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Baxter International Inc. (NYSE: BAX) is a global healthcare company dedicated to providing essential renal and hospital products. With a comprehensive portfolio that includes home, acute, and in-center dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition, biosurgery products, anesthetics, and pharmacy automation, Baxter plays a critical role in expanding access to healthcare worldwide.
Baxter's recent acquisition of Hillrom in late 2021 has significantly enhanced its hospital-focused offerings. This acquisition brought basic equipment like hospital beds under Baxter’s umbrella, along with advanced digital solutions such as smart beds and the Voalte medical communications app. These additions complement Baxter’s legacy operations, which focus on products for patients with acute and chronic kidney failure. Notably, Baxter plans to spin off its renal care segment by mid-2024.
Additionally, Baxter provides a variety of injectable therapies, including IV pumps, administrative sets, and nutritional products, as well as surgical sealants and hemostatic agents used in various care settings. The company’s extensive global footprint and the essential nature of its products and services underscore its commitment to advancing healthcare innovations and improving patient care in both emerging and developed markets.
Baxter’s financial condition remains robust, bolstered by its continuous innovation and strategic partnerships. The company’s employees worldwide are dedicated to building upon a rich heritage of medical breakthroughs, ensuring that Baxter continues to be at the forefront of healthcare advancements.
Baxter International Inc. (NYSE:BAX) has received FDA approval for its premix Norepinephrine Bitartrate in 5% Dextrose Injection, the first ready-to-use formulation of norepinephrine, which is crucial for treating severe hypotension in adults. Available in 4 mg/250 mL and 8 mg/250 mL concentrations, this formulation enhances patient safety by reducing compounding errors and offers flexible storage options, including room temperature. The product features a shelf life of up to 21 months in refrigeration and up to 90 days at room temperature, utilizing Baxter's proprietary VIAFLO container technology.
Baxter International has announced its acquisition of Hillrom for $156.00 per share, totaling $10.5 billion in cash. This strategic move aims to enhance access to care and accelerate digital health solutions globally. The acquisition is expected to generate approximately $250 million in annual pre-tax cost synergies by year three, with a positive impact on Baxter's adjusted earnings per share (EPS) projected to exceed 20% by year three. Both companies' boards have unanimously approved the deal, which is set to close by early 2022.
The Baxter International Foundation has partnered with UNICEF USA to enhance access to safe water in La Guajira, Colombia, through a $1.5 million grant. This three-year initiative aims to benefit thousands of children and families by improving water, sanitation, and hygiene (WASH) services via rehabilitation, education, and collaboration. With alarming statistics indicating a significant lack of access to clean water, this project will include rehabilitating water systems and distributing hygiene kits. Baxter's long-standing commitment to community health aligns with this initiative's goal of supporting sustainable access to clean water.
Baxter International Inc. (NYSE:BAX) is advancing its digital transformation by focusing on three areas: enhancing digital health solutions, improving customer experiences, and modernizing technology capabilities. Collaborating with Amazon Web Services, Baxter is moving its data centers to the cloud, which has led to increased speed, geographical expansion, and cost savings. This transformation supports its digital health solutions, including the Sharesource remote patient management platform for home dialysis, and enhances its supply chain resilience amid global challenges. The company is also investing in employee digital training.
Baxter International (NYSE:BAX) will present at the UBS Genomics 2.0 and MedTech Innovations Summit on August 12, 2021, at 10:00 a.m. PT. Jay Saccaro, Baxter’s CFO, is scheduled to speak. The live webcast will be accessible at www.baxter.com and available for replay until August 11, 2022. Baxter has been a leader in medical products for over 85 years, providing critical care, nutrition, renal, and surgical solutions across more than 100 countries, advancing healthcare innovations for patients and caregivers.
CryoLife, Inc. (NYSE: CRY) announced the sale of its PerClot product line to Baxter International (NYSE: BAX) for up to $60.8 million. CryoLife will receive up to $45.8 million, while Starch Medical, Inc. will receive up to $15 million. The transaction includes worldwide marketing rights and related assets. CryoLife will also provide transition services and remain responsible for FDA approval efforts. Proceeds will be used for general corporate purposes, contingent obligations, and potential debt repayment.
Baxter International has completed the acquisition of assets related to PerClot Polysaccharide Hemostatic System from CryoLife for up to $60.8 million, including $25 million upfront. This strategic move aims to enhance Baxter’s offerings in the operating room, particularly in managing intraoperative bleeding. PerClot is not yet cleared for sale in the U.S. but is sold in over 35 countries. The acquisition aligns with Baxter's commitment to optimize patient care and expand its hemostatic product line, complementing its recent purchase of Seprafilm.
Baxter International Inc. (NYSE:BAX) reported a strong second-quarter 2021, with worldwide sales reaching approximately $3.1 billion, reflecting a 14% year-over-year increase. The U.S. sales grew 6% to $1.2 billion, while international sales surged 19% to $1.9 billion. Key drivers included growth in BioPharma Solutions and Advanced Surgery. Net income attributable to Baxter reached $298 million, or $0.59 per diluted share, marking a 23% increase. Adjusted net income was $409 million, exceeding guidance. Baxter also announced strategic product launches and plans for its Investor Conference in September.
Baxter International Inc. (NYSE:BAX) highlights findings from a significant retrospective analysis published in the Journal of Medical Economics. The study revealed that the use of active hemostatic products alone resulted in lower rates of bleeding-related complications and shorter hospital stays compared to combining active and passive hemostats. This analysis included data from 94,462 patients and indicated adjusted mean total hospital cost savings of $3,040 per surgery. Baxter aims to enhance surgical outcomes through effective bleed management strategies using its VIBe SCALE tool.
Baxter International Inc. (NYSE:BAX) has declared a quarterly cash dividend of $0.28 per share, payable on October 1, 2021, to shareholders of record as of September 3, 2021. This sets an annual dividend rate at $1.12 per share. Baxter continues to be a vital company in medical products, providing critical care and innovative healthcare solutions for over 90 years, with a reach in more than 100 countries.
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