new york: Private Equity Consortium. Warburg Pinchas and Advent International is in talks to buy medical device maker Baxter International. Biopharmaceutical solutions People familiar with the matter said on Sunday that the deal could be worth $4 billion or more.
Warburg Pinchas and Advent The company submitted the most attractive offer to Baxter at the auction and has also attracted interest from other private equity firms and big names in the biomedical field, including Thermo Fisher Scientific, according to people familiar with the matter.
The acquisition consortium has asked other private equity firms to help finance the acquisition as direct lenders, one of the people added.
It is unclear whether Warburg Pincus and Advent will be able to successfully complete talks to buy the unit, according to people familiar with the matter, and Baxter could still choose to sell it to another bidder or continue operations. It is said that there is a sexuality. They requested anonymity because the details of the sales process are confidential.
Baxter, Wahlberg and Advent did not immediately respond to requests for comment. Thermo Fisher declined to comment.
Baxter’s Biopharmaceutical solutions The unit supports pharmaceutical companies in the formulation, development and commercialization of drugs, such as biologics and vaccines, that are typically administered via intravenous or injectable methods.
Baxter, which has a market capitalization of $23 billion, said in January that it would consider selling the unit to “strengthen its focus and improve its capital structure.” This cites the company’s efforts to cut non-core businesses and pay off part of the $16.4. Billion pile of debt.
Baxter also plans to separate its nephrology and acute care units. The company said its dialysis business, which is part of Baxter’s renal care division, is holding back profits.
Another medical device maker, Medtronic, announced plans in October to spin off its patient monitoring and respiratory interventions business, and has since attracted interest from potential buyers.