Aug 26, 2011
Acquisition Complements Baxter’s Broad Nutrition and Drug Delivery Portfolio
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX) announced today that it has entered into a definitive agreement to acquire Baxa Corporation, a privately held company based in Englewood, Colo., with additional operations in Florida and the United Kingdom. Baxa develops pharmacy technology that enhances the efficiency and safety of oral and IV dose preparation and delivery. The addition of Baxa’s product lines will complement Baxter’s portfolio of nutrition products and drug delivery systems and supports patient safety.
“With these new offerings, Baxter will be able to provide a comprehensive solution to fulfill the majority of patients’ nutritional requirements and increase efficiency in the pharmacy,” said Robert M. Davis, president of Baxter’s Medical Products business. “Bringing this expertise together with Baxter’s commercial capabilities and global reach will enable us to continue to meet our customers' evolving needs and extend our position in IV nutrition and fluid delivery.”
The transaction includes a total upfront cash consideration of $380 million and is expected to close following satisfaction of customary closing conditions and the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. Annual sales for Baxa were approximately $150 million in 2010, and Baxter expects the future top-line growth of this business to be accretive to the company’s future sales growth. In addition, Baxter expects this transaction to be neutral to full-year 2012 earnings excluding dilution of approximately $0.03 to $0.05 per diluted share related to acquisition accounting and transaction-related expenses, and increasingly accretive thereafter.
Nutrition is recognized as an important element of patients’ therapy, and both Baxter and Baxa have sought to advance the delivery of IV nutrition through innovative technologies such as Baxter’s multi-chamber, premixed containers and Baxa’s automated compounding systems.
Baxter’s multi-chamber containers are prefilled and provide many of the essential ingredients of balanced nutrition for a wide range of patients. Baxa’s pharmacy integration and automation technology allow hospital pharmacists to customize treatment for specific patient populations when needed.
In response to the growing need to eliminate sources of potential error, both premixed medications and pharmacy automation help to reduce medication errors and improve operational effectiveness. Among Baxa’s numerous offerings are the ExactaMix® Compounder, devices that automate multi-ingredient nutritional solution compounding and the DoseEdge® Pharmacy Workflow Manager, an integrated system for managing IV and oral dose preparation activities.
Baxa products play a trusted role in the preparation of hundreds of thousands of safe doses of medication every day. “With this agreement, Baxa will be able to play a greater role in delivering safe medication practices,” said Greg Baldwin, Baxa chairman and chief executive officer. “We are very pleased to find a partner that shares our commitment and sees the potential in our products, technology and people.”
About Baxter’s Medical Products Business
Baxter’s Medical Products business develops and provides products used in the delivery of fluids and drugs to patients. These include IV solutions and administration sets, premixed drugs and drug-reconstitution systems, IV nutrition products, infusion pumps, inhalation anesthetics and products and services for people with end-stage kidney disease. At the forefront of IV nutrition, Baxter’s ongoing advancements include multi-chamber containers, lipids, amino acids, vitamins and admixing technology.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning a definitive agreement entered into between the company and Baxa, including expectations with respect to the closing of the transaction and its financial impact on the company. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: satisfaction of regulatory and other requirements; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; product quality or patient safety issues; failure to obtain the necessary consents or to satisfy other closing conditions; and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.
Baxter International Inc.
Christy Noland, (847) 948-4380
Deborah Spak, (847) 948-2349
Mary Kay Ladone, (847) 948-3371
Clare Trachtman, (847) 948-3085
|Apr 23, 2018||Lewis Drug Awarded Exemplary Provider® Accreditation|
|Apr 17, 2018||25% OFF Pharmacy Software License Fee|
|Apr 04, 2018||TCGRx Announces the Acquisition Of ARxIUM’S Panasonic Fastpak Exp and Fastpak ...|
|Apr 04, 2018||Fagron Strengthens Strategic Position in USA Through Highly Complementary Acquis...|
|Mar 30, 2018||KeyCentrix appoints Luis Rodriguez as President|
|Mar 27, 2018||iMedicare Rebrands to Amplicare, a Decision-Automation Platform that Enables Hea...|
|Mar 27, 2018||Mercyhealth Adopts Omnicell’s XR2 Automated Central Pharmacy System to Enhance...|
|Mar 26, 2018||Washington State University Wins 8th Annual Student Pharmacist Compounding Compe...|
|Mar 26, 2018||H+H SYSTEM, Inc. USA Appoints Marketing Manager|
|Mar 22, 2018||CVS Health Appoints Derica W. Rice as President of CVS Caremark|
|Mar 19, 2018||MEDISCA Signs Out-Licensing Agreement with Torrey Hills Technologies for its Pro...|
|Mar 16, 2018||QS/1® Achieves Level 2 Capability for the Pharmacist Electronic Care Plan|
|Mar 14, 2018||SuiteRx a Pharmacy Owner's Dream|
|Mar 13, 2018||Introducing Mission Critical Delivery Solutions as a Thought Leader in Long Term...|
|Mar 09, 2018||Smith Drug Company Receives the 2018 Distribution Management Award for Cloud-Bas...|
|Mar 09, 2018||Albertsons Companies Earns URAC Accreditation in Specialty Pharmacy|
|Mar 06, 2018||Introducing AmerisourceBergen as a Thought Leader & Innovator in Pharmacy: Impro...|
|Mar 06, 2018||MHA Members WIN BIG with SuiteRx|
|Mar 02, 2018||Letco Medical, L.L.C. Announces Launch Of Innovative Education Value Program For...|
|Feb 26, 2018||J M Smith Corporation Announces Leadership Team Changes|
|Feb 26, 2018||Worz Named New ASCP Executive Director and CEO|
|Feb 16, 2018||RxSafe Launches Revolutionary Adherence Packaging Automation for Retail Pharmaci...|
|Feb 15, 2018||Craneware: Significant Contract Wins|
|Feb 13, 2018||Pomona Valley Hospital Medical Center Adopting In-House IV Compounding with Omni...|
|Feb 12, 2018||Verity Solutions tops 340B Management Systems Category in 2018 Best in KLAS repo...|
|Feb 12, 2018||ARxIUM’s RIVA Named Top IV Robot by KLAS for Fifth Consecutive Year|
|Feb 07, 2018||Multiple Hospitals Adopt Omnicell’s XR2 Automated Central Pharmacy System to E...|
|Feb 06, 2018||PharmaLink Educates Pharmacy Industry as a Thought Leader in Pharmaceutical Retu...|
|Feb 05, 2018||Fagron, Inc. Extends Pharmaceutical Ingredient Supply Chain To American Pharmace...|
|Jan 31, 2018||Letco Med, L.L.C. Announces Partnership with ARL Bio Pharma to Launch Quality Sa...|
Connect with thousands of pharmacy professionals throughout every practice setting.