Baxter
(NYSE: BAX)
announced today that it picked “Vantive” as the name of its proposed kidney care spinoff.
In January, Baxter announced plans to spin its renal care and acute therapies units into an independent, publicly traded company. It said at the time that it expected the company to stand alone in the next 12 to 18 months. Baxter said today that it expects Vantive to launch as an independent, publicly traded company by July 2024 or earlier.
The company picked Chris Toth, EVP and group president, kidney care, to serve as CEO of the new company upon the spinoff’s completion.
“Announcing the Vantive name is a critical milestone in our journey to becoming an independent company focused solely on therapies for kidney disease and other vital organ support,” said Toth “The Vantive name reflects our dedicated employees’ steadfast commitment to patients and our passion for helping them lead full and meaningful lives in partnership with our customers. We are eager to continue collaborating with the kidney and critical care communities as we work to transform care globally.”
Baxter said it expects Vantive to carry forward its nearly 70-year legacy in kidney disease and organ support therapies. The company serves more than 1 million patients annually across more than 70 countries.
The Vantive logo and full visual identity will be unveiled at a later date, Baxter said. Until the completion of the proposed separation in 2024, the kidney care business will continue to operate as part of Baxter.
Baxter’s spinoff move falls in line with a major spinoff trend in medtech. It also creates competition for another recent kidney care spin. In May 2022, Medtronic and DaVita announced a plan to create a new kidney care company. GE, BD and Zimmer Biomet, among others, also recently completed spinoffs of major business units.
Kidney care is in the midst of a major transformation. Since the Trump administration, the CMS and other government agencies have been promoting greater access to home dialysis treatment and kidney transplants versus the traditional model of having kidney disease patients go to dialysis centers.