Tuesday, May 9, 2023 Daily Archives

Baxter sells biopharma services business to PE for $4.25bn

Baxter International will focus fully on medtech after agreeing to sell its BioPharma Solutions (BPS) business to private equity firms Advent International and Warburg Pincus. Baxter’s BPS unit includes fill/finish manufacturing facilities serving the syringe and vial markets from several locations, including a site in Halle/Westfalen, Germany currently undergoing a $100 million expansion. The deal, expected to close in the second half of 2023, will see Baxter receive $4.25 billion in cash, which it will use to reduce its debt.…