Aug 26, 2011

Baxter to Acquire Privately Held Baxa Corporation for $380 Million

Baxter to Acquire Privately Held Baxa Corporation

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.

About Baxter

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.

 

Contacts

Baxter International Inc.
Media Contacts
Christy Noland, (847) 948-4380
Deborah Spak, (847) 948-2349
or
Investor Contacts
Mary Kay Ladone, (847) 948-3371
Clare Trachtman, (847) 948-3085

 

Baxter Press Release

Market Buzz

Sep 19, 2018 RXQ Compounding Expanding in Albany
Sep 17, 2018 Middlesex Hospital Bolsters Pharmacy Safety and Compliance by Extending Wolters ...
Sep 14, 2018 Synergy Medical once again among Canada's Top 500 Companies
Sep 10, 2018 American Associated Pharmacies Taps FDS to Bring its Members a State-of-the-Art ...
Sep 10, 2018 Rees Scientific achieved ISO/IEC 17025:2017 Accreditation
Sep 06, 2018 Medical Packaging Inc. Named One of The Best Places to Work In New Jersey
Sep 06, 2018 Americorp Financial Launches New Brand, Website for Equipment Financing
Aug 30, 2018 Letco Medical, L.L.C. Announces Exclusive Partnership with Sweetgrass GxP Group,...
Aug 29, 2018 QS/1® Selected as Early Adopter in New CMS SCRIPT Standard
Aug 23, 2018 Innovations to Omnicell Patient Engagement Platform Support Value-Based, Patient...
Aug 14, 2018 ACHC and ExceleraRx Corp. Form Partnership
Aug 13, 2018 RetailSTARx with McKesson’s EnterpriseRx Supports ID Tracking for Controlled S...
Aug 07, 2018 Fagron, Inc. Announces New Hair Care Line - TrichoConcept™
Aug 03, 2018 Letco Medical, L.L.C. Launches Pharmacy Financial Services to Support Compoundin...
Aug 02, 2018 Beaumont Health Selects Omnicell’s Medication Management Platform and Services...
Jul 31, 2018 Lupin launches generic Desoximetasone Topical Spray, 0.25% in the US
Jul 25, 2018 NYU Langone Health Expands Strategic Partnership with Omnicell for Automated Med...
Jul 25, 2018 Prudential Cleanroom Services Hosts Ribbon Cutting Ceremony at Nashua, NH Cleanr...
Jul 18, 2018 Excelera® Specialty Pharmacy Network Announces Access to Breast Cancer Treatmen...
Jul 17, 2018 Multi-Store Independent Pharmacy Streamlines Operations with Epicor Eagle N Seri...
Jul 12, 2018 Acentrus Specialty Partners with CPPA for Specialty Pharmacy Practice Accreditat...
Jul 12, 2018 Letco Medical, L.L.C. Acquired by Current Management Team
Jul 10, 2018 Lorrie A. Carr Appointed as CEO for Excelera
Jul 02, 2018 Medi-Dose, Inc. / EPS, Inc. Announces New Packaging Option for its Steri-Dropper...
Jun 26, 2018 Effective June 26, R.J. Hedges & Associates will be offering their comprehensive...
Jun 25, 2018 Medical Packaging Inc. Named One of The Best Places to Work In New Jersey
Jun 20, 2018 Prudential Overall Supply a Clean Green Certified Company Releases Clean Green V...
Jun 15, 2018 Retail Management Solutions named in the top 250 of the Fifty Five and Five Inbo...
Jun 14, 2018 Tutela Welcomes Fertility Specialists Medical Group (FSMG) and The San Diego Cen...
Jun 11, 2018 SuiteRx Saves the day at APPA's 2nd Annual PharmaCon Expo

RXinsider Product Overview Videos