Baxter to Spinout $5B Kidney Care Business

Deerfield, IL, January 6, 2023 (Baxter) -- Baxter International Inc. (NYSE:BAX), a leading global medtech company, today announced a comprehensive strategic roadmap to meaningfully enhance its operational effectiveness, drive toward improved long-term performance, accelerate innovation and create additional value for all stakeholders. These changes include the plan to spin off the company's Renal Care and Acute Therapies global business units (GBUs) into an independent, publicly traded company; a simplified commercial and manufacturing footprint to enhance underlying business performance; and further portfolio actions to improve Baxter's capital structure, including a review of strategic alternatives for the BioPharma Solutions (BPS) business.

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