Baxter International - M&A Summary and Business Overview

Medical ProductsCompany

Baxter International M&A Summary

Baxter International has acquired 22 companies, including 4 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 6 assets.

Baxter International’s largest acquisition to date was in 2021, when it acquired Hill-Rom Holdings for $12.4B. It’s largest disclosed sale occurred in 2023, when it sold Simtra BioPharma Solutions to Advent International for $4.3B. Baxter International has acquired in 10 different US states, and 7 countries. The Company’s most targeted sectors include medical products (60%) and life science (20%).

Baxter International Business Overview

Where is Baxter International headquartered?

Baxter International is headquartered in Deerfield, Illinois.

What is Baxter International’s revenue?

Baxter International disclosed revenue of 15,113M USD for 2022 and 12,784M USD for 2021.

How many employees does Baxter International have?

Baxter International has 60,000 employees.

What sector is Baxter International in?

Baxter International is a medical products company.

When was Baxter International founded?

Baxter International was founded in 1931.

M&A Summary

  • M&A Total Activity26
    • M&A Buy Activity20
    • M&A Sell Activity6
  • Total Sectors Invested 4
  • Total Countries Invested 7
  • M&A Buy/Sell Connections 15
  • M&A Advisors 4

Baxter International

Baxter International, Inc.

One Baxter Parkway,
Deerfield, Illinois 60015
United States,
(224) 948-2000
www.baxter.com

Baxter International develops, manufactures and markets drugs and medical products for people with a variety of medical conditions. Baxter's operations are comprised of the BioScience and Medical Products segments. The BioScience business processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions; biosurgery products; and select vaccines. The Medical Products business manufactures intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, and inhalation anesthetics. The business also provides products and services related to pharmacy compounding, drug formulation and packaging technologies. In addition, the Medical Products business provides products and services to treat end-stage renal disease, or irreversible kidney failure. Baxter International was founded in 1931 and is based in Deerfield, Illinois.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.4/yr) # 18 - 2 - - - 20
vol $8.0B $12.5B $20.5B
Sell (0.2/yr) # 5 - - - 1 - 6
vol $657M $4.3B $4.9B
  26

Most Recent M&A

Company Date Value Type
Simtra BioPharma Solutions 2023-05-08 4.3B USD Divestiture
Deerfield, Illinois · www.biopharmasolutions.baxter.com
Hill-Rom Holdings, Inc. 2021-09-02 12.4B USD Add-on Acquisition
Chicago, Illinois · www.hillrom.com
CryoLife - PerClot Polysaccharide Hemostatic System Certain Assets 2021-07-29 61M USD Divestiture
Kennesaw, Georgia
sanofi-aventis U.S. LLC (Seprafilm Adhesion Barrier) 2019-12-02 350M USD Divestiture
, United States · www.seprafilm.us
Cheetah Medical, Inc. 2019-09-10 230M USD Add-on Acquisition
Newton Center, Massachusetts · www.cheetah-medical.com
Mallinckrodt plc - Recothrom and Preveleak 2018-03-19 - Divestiture
Dublin, Ireland
Claris Injectables Ltd. 2016-12-15 625M USD Divestiture
Ahmedabad, India · www.clarisinj.com
Baxalta, Inc. 2015-06-05 - Spin Off
Deerfield, Illinois · www.baxalta.com
SuppreMol GmbH 2015-03-04 225M EUR Add-on Acquisition
Planegg, Germany · www.suppremol.com
Baxter International Inc. - Marketed Vaccines 2014-07-30 635M USD Divestiture
Orth, Austria
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Medical Products 12 (60%) 18.5B (91%) 1 (17%) 22M (< 1%)
Life Science 4 (20%) 855M (4%) 4 (67%) 4.9B (100%)
Healthcare Services 3 (15%) 1.0B (5%) 1 (17%) -
Distribution 1 (5%) - - -
Total 20 $20.5B 6 $4.9B

By Geo

State/Country Buy Value Sell Value
United States 14 15.0B 4 4.3B
  Illinois 1 12.4B 3 4.3B
  California 3 346M - -
  Georgia 1 61M - -
  Colorado 1 380M - -
  Pennsylvania 1 338M - -
  New York 1 259M - -
  Minnesota 1 325M - -
  Massachusetts 1 230M - -
  Indiana 1 219M - -
Austria 1 715M 1 635M
Germany 1 225M - -
India 1 625M - -
Ireland 1 - - -
Israel 1 10M - -
Japan - - 1 22M
Sweden 1 3.9B - -
Domestic 14 (70%) 15.0B (73%) 4 (67%) 4.3B (87%)
Cross-border 6 (30%) 5.5B (27%) 2 (33%) 657M (13%)
Total 20 $20.5B 6 $4.9B

Top M&A Advisors

Financial Deals
Citigroup Investment Banking
1
J.P. Morgan Securities
1
Credit Suisse Investment Banking
1
Legal Deals
Sullivan & Cromwell
2

Deal Values

buy # Total
> $1B 2 $16.3B
$100M to $1B 12 $4.0B
< $100M 3 $140M
TOTAL $20.5B
Largest Hill-Rom Holdings, Inc.
$12.4B (2021-09-02)
sell # Total
> $1B 1 $4.3B
$100M to $1B 1 $635M
< $100M 1 $22M
TOTAL $4.9B
Largest Simtra BioPharma Solutions
$4.3B (2023-05-08)

M&A Connections

Deals
Acquired from
Investor(s)
15%
3 (15%)
Strategic(s)
30%
6 (30%)
Divested to
Investor(s)
17%
1 (17%)
Strategic(s)
67%
4 (67%)

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