Report: Baxter Considers Dropping Renal Care Businesses
Bloomberg reported that Baxter is exploring options to divest its renal care services and hemodialysis businesses to focus more resources on higher-growth businesses and pay down the debt it took on to acquire Hillrom last year.
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The company reported in October that it was reviewing its portfolio and would offer more details on its future plans in January. Wells Fargo analysts expect Baxter to split its fast-growing connected care business from its lower-margin hospital-based therapeutics products.
Baxter’s management justified the deal by emphasizing the potential cost synergies and shared commitment to digital health innovation.
Kidney dialysis and biosurgery will be two major focus points for a newly refined Baxter after it spins off its biopharmaceuticals business, as planned for mid-2015.