"The combination of these two respected renal leaders – Baxter and Gambro –
will enable Baxter to better serve healthcare providers and patients
through a collective offering of innovative renal products and
therapies," said Robert L. Parkinson, Jr., chairman and chief executive
officer of Baxter. "Together, we will advance the state of dialysis care
for patients with kidney disease worldwide."
The acquisition provides a number of long-term growth opportunities
for Baxter around the world. With a broad and complementary dialysis
product portfolio and global footprint, Baxter can accelerate product
sales in established markets such as Europe, where Gambro has an
extensive presence. Baxter will also expand Gambro's reach in
high-growth regions of Latin America and Asia-Pacific, where Baxter has
steadily grown its peritoneal dialysis (PD) business. In addition,
Baxter will build upon its core portfolio and pipeline of
investigational home hemodialysis (HD) and automated PD systems by
adding Gambro's dialyzers, devices and dialysis solutions, highly
innovative and next-generation monitors, and acute therapies to treat
patients with serious kidney, liver and lung conditions.
Brik Eyre has been named president of the combined Renal business and
has been elected a corporate officer of Baxter by the company's Board
of Directors. In his role, he will report to Robert M. Davis, president
of Baxter's Medical Products business. Eyre joined Baxter in 2008 and
previously served as the general manager of U.S. Medication Delivery.
Prior to this role, Eyre served as general manager for Baxter's
BioPharma Solutions business.
The total cash consideration for the transaction was approximately
$3.9 billion USD. The transaction was financed through a combination of
cash generated from overseas operations and debt issuances. The impact
of the acquisition was included in Baxter's third quarter and full-year