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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Outset Medical CEO Leslie Trigg and the beginner’s mindset

Outset Medical Chair and CEO Leslie Trigg [Photo courtesy of Outset Medical]

The home dialysis developer’s CEO discusses leadership, leaping before you look and making medtech for the home and hospital.

Eight years after becoming the CEO of Outset Medical (Nasdaq:OM) and two years after going public, Leslie Trigg says the medtech developer is finally at the starting gate for home dialysis.

It hasn’t been easy. The COVID-19 pandemic made it unsafe to train nurses in person, even as hospitals used the Tablo hemodialysis console in hallways and waiting rooms to clean patients’ blood. The pandemic also disrupted Outset’s supply chain. For example, it increased transportation costs for its single-use cartridges made by a contract manufacturer in Southeast Asia.

Last year, Outset had to put new shipments on hold while working through issues with the FDA.

And when she first go…

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