Baxter to Divest Its Biopharma Solutions Unit for $4.25 Billion

Baxter International Inc said on Monday a private-equity group, which includes Warburg Pincus and Advent International, has agreed to buy its biopharma solutions unit for $4.25 billion.

Medical device makers such as Baxter have been grappling with supply-chain shortages that began during the pandemic, while rising costs of raw materials, labor and transportation added more pressure.

Baxter announced its intent to explore alternatives for its biopharma solutions business and spin off its kidney care units in January, stating the restructuring will allow greater alignment with the company’s manufacturing footprint.

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