Baxter International Divests Vantive Kidney Care Segment
Transaction Valued at $3.8 Billion
Carlyle Group Acquires Kidney Care Business
NEW YORK, NY -- Baxter International Inc. (NYSE: BAX) has announced the divestment of its Vantive Kidney Care Segment to funds managed by global investment firm The Carlyle Group. The transaction is valued at approximately $3.8 billion, subject to customary closing adjustments.
The sale of Vantive Kidney Care, a leading provider of peritoneal dialysis solutions and services, aligns with Baxter's ongoing strategy to focus on its core businesses and optimize its portfolio. The transaction is expected to close in mid-2023, subject to regulatory approvals and other customary closing conditions.
"This transaction allows us to refine our focus and invest more strategically in our core businesses," said Joe Almeida, Chairman and CEO of Baxter. "We are confident that Vantive Kidney Care will continue to thrive under Carlyle's ownership and are excited about the opportunities ahead for both Baxter and Vantive."
The Carlyle Group expressed its commitment to supporting Vantive Kidney Care's growth and innovation initiatives. "We believe that Vantive Kidney Care has significant potential to drive meaningful improvements in the lives of patients around the world," said Gregor Boehm, Managing Director and Head of Healthcare Investments at The Carlyle Group.
Baxter will continue to provide dialysis products and services to the kidney care community through its Renal business unit. The company remains committed to delivering innovative therapies and solutions that address the unmet needs of patients with kidney disease.
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