MedCity News August 13, 2024
Frank Vinluan

Baxter International is selling its kidney care business for less than it was able to fetch for its much smaller biopharma solutions segment last year. A unit within kidney care took a goodwill impairment charge, Baxter’s financial reports show.

Baxter International’s plans to streamline its operations are taking a big step with the proposed $3.8 billion sale of its kidney care business to private equity firm The Carlyle Group.

The two companies announced Tuesday that they have signed a definitive agreement for Carlyle to acquire the kidney business, which will be named Vantive. Net after-tax proceeds to Deerfield, Illinois-based Baxter are estimated to be about $3 billion. Baxter said it plans to use these proceeds to reduce its debt, which...

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