{"id":5975,"date":"2023-05-08T21:24:33","date_gmt":"2023-05-09T01:24:33","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/baxter-sells-biopharma-to-advent-and-warburg-for-4-25-billion-in-cash\/"},"modified":"2023-05-08T21:24:34","modified_gmt":"2023-05-09T01:24:34","slug":"baxter-sells-biopharma-to-advent-and-warburg-for-4-25-billion-in-cash","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=5975","title":{"rendered":"Baxter sells BioPharma to Advent and Warburg for $4.25 billion in cash"},"content":{"rendered":"
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\u00a9 Reuters. Baxter (BAX) sells BioPharma to Advent and Warburg for $4.25 billion in cash<\/span>
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Baxter (NYSE:) announced today a deal to divest its BioPharma Solutions business to private equity firms Advent International and Warburg Pincus in a deal worth $4.25 billion in cash.<\/p>\n

The transaction is expected to close in the second half of 2023. Baxter said it intends to use the generated proceeds to reduce its debt.<\/p>\n

\u201cToday represents an important step in Baxter\u2019s ongoing transformation journey as we continue to execute against our strategic priorities, enhance our focus and create additional value for all our stakeholders,\u201d said Jos\u00e9 (Joe) E. Almeida, Chairman, President and Chief Executive Officer at Baxter.<\/p>\n

The medtech company sees the deal resulting in dilution of approximately $0.10 per share to the company\u2019s earnings. BPS is seen generating about $600 million in 2023 sales, Baxter said.<\/p>\n

\u201cBPS is a premier asset at the forefront of the biopharma industry, and one we\u2019ve been closely following for a number of years,\u201d said John Maldonado, a Managing Partner at Advent.<\/p>\n

Baxter stock is moving higher on Monday.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Baxter (BAX) sells BioPharma to Advent and Warburg for $4.25 billion in cash Baxter (NYSE:) announced today a deal to divest its BioPharma Solutions business to private equity firms Advent International and Warburg Pincus in a deal worth $4.25 billion in cash. The transaction is expected to close in the second half of […]<\/p>\n","protected":false},"author":1,"featured_media":1465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-5975","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBaxter sells BioPharma to Advent and Warburg for $4.25 billion in cash | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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