MedCity News August 13, 2024
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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