Baxter in discussions for sale of kidney division
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Key takeaways:
- Baxter International said in a recent 8K report filing it would consider a sale of its kidney division vs. completing a spinoff.
- If Baxter completes the spinoff, the new company would be called Vantive.
Baxter International disclosed in a U.S. Securities and Exchange Commission filing earlier this month that it would consider selling its kidney care business instead of spinning it off as originally planned.
“Consistent with Baxter’s commitment to evaluate strategic options in the interest of maximizing stockholder value, Baxter disclosed that it has been in recent discussions with select private equity investors to explore a potential sale of the Kidney Care asset in lieu of the proposed spinoff of that business,” Baxter said in the 8K filing. “No final decision on the separation structure has been made and Baxter continues to make progress on the previously announced proposed spinoff of the Kidney Care business.
“Regardless of the separation structure ultimately selected, Baxter has expressed its commitment to separating the Kidney Care business in the second half of 2024,” the company said in the filing.
Baxter announced in June 2023 that Robert Toth would serve as chair of a new independent, publicly traded company called Vantive that would include the Renal Care and Acute Therapies businesses.
Reference:
Baxter announces strategic actions to enhance operational effectiveness, accelerate innovation for patients and drive value for shareholders. Available at: https://www.baxter.com/baxter-newsroom/baxter-announces-strategic-actions-enhance-operational-effectiveness-accelerate. Posted Jan. 6, 2023. Accessed March 12, 2024.
MedTechDive. Baxter considers selling kidney care unit to private equity. Available at: https://www.healio.com/news/nephrology/20230616/baxter-names-ceo-for-proposed-kidney-care-spinoff. Accessed March 12, 2024.
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