Baxter names CEO for proposed Kidney Care spinoff
Click Here to Manage Email Alerts
Key takeaways:
- Baxter intends to spin off its renal care and acute therapies businesses into a standalone company.
- The spinoff is currently expected by July 2024.
Baxter International named Chris Toth as CEO for its proposed Renal Care and Acute Therapies spinoff businesses, according to a press release.
“Chris’ deep global health care and operational experience, coupled with his patient- and customer-centric approach, makes him the perfect choice to lead our proposed spinoff,” José E. Almeida, chairperson, president and CEO of the medical technologies company, said in the release. “I am confident that his passion for health care access and quality of care, strong focus on building a high-performance culture, and proven record of driving profitable growth and innovation will both build on the new company’s 70-year legacy of pioneering leadership and help guide it to new success.”
Baxter intends to spin off its Kidney Care Renal Care and Acute Therapies businesses into an independent, publicly traded company, Kidney Co. The operation remains subject to the satisfaction of customary conditions and is currently expected by July 2024.
In the interim, Toth will serve as the executive vice president and group president of Kidney Care, reporting to Almeida. Toth recently served as CEO of Varian and held executive leadership roles previously at the Siemens Healthineers-owned company, including president and chief operating officer; president of Varian Oncology Systems and president of global commercial and field operations.
“I am honored and energized to lead the proposed Kidney Co. forward with my dedicated colleagues, and to create value for the patients, providers, future investors and many other stakeholder communities we will serve,” Toth said in the release.
Read more about
Click Here to Manage Email Alerts