Spending spree? Baxter adds Synovis for $325M
Blood-product and intravenous-drug maker Baxter has acquired Synovis Life Technologies, which produces devices and biological products used in soft-tissue repair, for $325 million.
The deal will boost Deerfield, Ill.-based Baxter’s presence in regenerative medicine and biosurgery, the companies said in a joint statement. St. Paul, Minn.-based Synovis products are used in an array of interventions, among them obesity surgery, hernia repair and orthopedic procedures such as rotator-cuff and tendon repairs.
The transaction comes three-and-a-half months after Baxter purchased Baxa for $380 million, seeking to grow its business in nutrition products and drug-delivery systems.
The deal will boost Deerfield, Ill.-based Baxter’s presence in regenerative medicine and biosurgery, the companies said in a joint statement. St. Paul, Minn.-based Synovis products are used in an array of interventions, among them obesity surgery, hernia repair and orthopedic procedures such as rotator-cuff and tendon repairs.
The transaction comes three-and-a-half months after Baxter purchased Baxa for $380 million, seeking to grow its business in nutrition products and drug-delivery systems.
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.