Baxter completes purchase of Sigma
Three years ago, Baxter entered into an agreement with Sigma to become its exclusive global distributor while obtaining a 40 percent equity stake in the company and an option to purchase the remaining 60 percent. On April 26, Baxter announced it had exercised the option.
Baxter said it made a cash payment of around $90 million to complete the acquisition of the privately held maker of smart infusion pumps based in Medina, N.Y.
Sigma’s flagship product set is the Spectrum line of large-volume pumps, which offer wireless connectivity for data transfer and function analysis. Baxter also acquired the company’s product-development pipeline, which includes a small, syringe-type infusion pump awaiting 510(k) clearance from the FDA.
A Baxter executive said Sigma’s technology fits well with Baxter’s fluid-system portfolio to offer clinicians a medication-delivery product line for bedside patient treatment.
Baxter is publicly traded and has corporate offices in Deerfield, Ill.
Baxter said it made a cash payment of around $90 million to complete the acquisition of the privately held maker of smart infusion pumps based in Medina, N.Y.
Sigma’s flagship product set is the Spectrum line of large-volume pumps, which offer wireless connectivity for data transfer and function analysis. Baxter also acquired the company’s product-development pipeline, which includes a small, syringe-type infusion pump awaiting 510(k) clearance from the FDA.
A Baxter executive said Sigma’s technology fits well with Baxter’s fluid-system portfolio to offer clinicians a medication-delivery product line for bedside patient treatment.
Baxter is publicly traded and has corporate offices in Deerfield, Ill.
Dave P. has worked in journalism, marketing and public relations for more than 30 years, frequently concentrating on hospitals, healthcare technology and Catholic communications. He has also specialized in fundraising communications, ghostwriting for CEOs of local, national and global charities, nonprofits and foundations.