Baxter International Inc. - BAX STOCK NEWS

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.

Baxter International Inc. (NYSE:BAX) announced the launch of its 2020 Corporate Responsibility Report, detailing achievements from its 2015-2020 goals and introducing a new set of commitments for 2030. The report highlights significant progress in environmental, social, and governance (ESG) performance, including a 13.6% reduction in greenhouse gas emissions and over 375 recycling partnerships. Baxter plans to double patient outreach in underserved markets, achieve carbon neutrality by 2040, and invest $275 million in communities. The company emphasizes transparency in sustainability reporting and aligns with the UN Sustainable Development Goals.

Baxter International (NYSE:BAX) has announced new scholarship and grant programs aimed at supporting Black students in health and science fields. Over the next three years, $1.2 million will be allocated to three Historically Black Colleges and Universities (HBCUs): Meharry Medical College, Morehouse School of Medicine, and Tennessee State University. The initiative includes the Baxter Scholars Award, which prepares students for early medical school acceptance. Additional funding will bolster programs at Morehouse School of Medicine focused on pre-medical studies and relevant experiences.