Baxter To Acquire Hemofiltration Product Line From Edwards Lifesciences
Transaction is expected to close in the third quarter of 2009
Baxter has signed a definitive agreement with Edwards Lifesciences to acquire certain assets related to Edwards' hemofiltration product line, also known as Continuous Renal Replacement Therapy (CRRT).
The transaction is expected to close in the third quarter of 2009, pending regulatory approvals.
Under the terms of the agreement, Baxter will provide Edwards an initial cash payment of approximately $56 million upon the close of the transaction. Additionally, Baxter will receive transition services from Edwards and is expected to pay Edwards up to an additional $9 million, based on revenue objectives expected to be achieved over the next two years.
Bruce McGillivray, Corporate Vice President and President of Renal business, Baxter, said: “This acquisition expands Baxter's existing CRRT business, which is predominantly in the US and China, into new markets such as Europe and Australia.”
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