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Baxter International Inc.

NYSE:BAXLive AI agent

Baxter is committed to upholding high standards of corporate governance, recognizing its crucial role in maintaining investor and public confidence.

Investor website: https://baxter.com/

About

Baxter is committed to upholding high standards of corporate governance, recognizing its crucial role in maintaining investor and public confidence. This commitment extends across the company’s structure, leadership, policies, culture, and the ethical conduct of all employees. Strong corporate governance is at the heart of building trust in today’s business environment, and Baxter’s Board of Directors plays a key role in addressing the needs of employees, communities, customers, and stockholders.

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Projects
["Baxter International Inc. (NYSE:BAX), a global medtech leader, and funds managed by global investment firm Carlyle (NASDAQ:CG) today announced that they have signed a definitive agreement under which Carlyle is to acquire Baxter's Kidney Care segment, to be named Vantive, for $3.8 billion. Under the terms of the definitive agreement, subject to certain closing adjustments, Baxter will receive approximately $3.5 billion in cash with net after-tax proceeds currently estimated to be approximately $3 billion. Baxter announced its intention to create a standalone kidney care company in January 2023 as part of its broader strategic realignment designed to enhance future performance and create value for all stakeholders. In March 2024, Baxter announced that it was in discussions to explore a potential sale of the segment. After reviewing the financial impact of the potential separation pathways, management and the Baxter Board determined that selling the business to Carlyle should maximize value for Baxter stockholders and best position Baxter and Vantive for long-term success, with enhanced flexibility to deploy capital toward opportunities that seek to accelerate each company's respective growth objectives. Baxter intends to use after-tax proceeds from the transaction to reduce its debt, consistent with its stated capital allocation priorities. Carlyle has been a leading private equity investor in the medtech sector over the past decade, with investments in medical technology and diagnostic companies totaling over $40 billion in enterprise value. Moreover, Carlyle's investment in Vantive is made in partnership with Atmas Health, a collaboration among three industry executives founded in September 2022 to focus on acquiring and building a market-leading healthcare business. The partnership, consisting of Kieran Gallahue, Jim Hinrichs, and Jim Prutow, brings a proven track record of creating value in the medical technology industry. Kieran Gallahue will serve as the Chairman of Vantive, working with CEO Chris Toth and the Vantive management team. Vantive is a leader in global kidney care, offering products and services for peritoneal dialysis, hemodialysis and organ support therapies, including continuous renal replacement therapy (CRRT). The business has more than 23,000 employees globally and had 2023 revenues of $4.5 billion."]
Leadership
William A. Ampofo II (Senior Vice President, Parts & Distribution and Supply Chain, Boeing Global Services), Jeffrey (Jay) A. Craig (Former Chair and Chief Executive Officer, Meritor Corporation), Andrew Hider (President and Chief Executive Officer), Michael R. McDonnell (Former Executive Vice President and Chief Financial Officer, Biogen Inc.), Patricia B. Morrison (Former Executive Vice President, Customer Support Services and Chief Information Officer, Cardinal Health Inc.), Nancy M. Schlichting (Former President and Chief Executive Officer, Henry Ford Health System), Brent Shafer (Chair of the Board and Former Chair and Chief Executive Officer, Cerner Corporation), Amy A. Wendell (Former Senior Vice President, Strategy and Business Development and Licensing, Covidien), David S. Wilkes, M.D. (Dean Emeritus of the University of Virginia School of Medicine), James Borzi (Executive Vice President, Chief Supply Chain Officer), Cynthia (Cindy) Carlisle (Executive Vice President and Chief Human Resources Officer), Stacey Eisen (Senior Vice President, Chief Communications Officer and Corporate Marketing, and President, Baxter Foundation), Julie Foster (President, Front Line Care), Adriana Guiry (Senior Vice President, Baxter Growth & Performance System), Scott Kaplan (Senior Vice President, Quality, Regulatory & Patient Safety), Piero Novello (Senior Vice President and President, International), Charles (Rusty) Patel (Senior Vice President and Chief Information Officer), David S. Rosenbloom (Executive Vice President and General Counsel), Cecilia Soriano (Group President, Infusion Therapies and Platforms), James Teaff (President, Care & Connectivity Solutions), Steve Wallace (President, Advanced Surgery & Commercial Excellence), Anita Zielinski (Interim Chief Financial Officer and Senior Vice President, Chief Accounting Officer and Controller)

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