Baxter to divest its BioPharma Solutions business for $4.25B

Baxter (NYSE: BAX) + continues to streamline, announcing today that it will sell its pharma and biotech contract manufacturing business. 

The Deerfield, Illinois-based medtech company — maker of diagnostic, critical care, kidney care, nutrition, hospital and surgical products and services — will sell its BioPharma Solutions (BPS) business to private equity firms Advent International and Warburg Pincus. Baxter expects the $4.25 billion sale to close in the second half of 2023, pending customary regulatory approvals and closing conditions.

After taxes, Baxter will receive roughly $3.4 billion from the deal.

“Today represents an important step in Baxter’s ongoing transformation journey as we continue to execute against our strategic priorities, enhance our focus and create additional value for all our stakeholders,” Baxter CEO José (Joe) E. Almeida said in a news release.

“BPS has long been recognized worldw…

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