Baxter Sells its Renal Care Subsidiary to Carlyle for $3.8 Billion

Baxter, a medical device manufacturer has reached an agreement with the Carlyle Group to sell its subsidiary Vantive for $3.8 billion. This is the renal care division that Baxter began considering selling less than a year ago.

The deal, which is expected to close in early 2025, will help the US company reduce its debt, in line with the strategy it implemented last year by selling its biopharmaceutical unit for $2.8 billion.

The company began a process of selling subsidiaries a few years ago to pay off its debt. In mid-2023, the company formalized the sale of Biopharma Solutions, acquired by Advent and Warburg for $3.857 billion. At the end of last year, Baxter began evaluating the possibility of spinning off Vantive.

Baxter generated $4.5 billion in revenue from its kidney care operations over the past year. Carlyle, meanwhile, founded Atmas Health, a healthcare investment arm, in 2022, through which it has acquired Vantive.

Baxter’s renal business sales to reach $4.5 billion in 2023

Carlyle is one of the world’s largest investment funds with $435 billion in assets under management. The firm has been an active buyer and seller of companies and services this year.

Baxter was founded in 1931, is headquartered in Deerfield (USA) and has more than 60,000 employees. Baxter has been present in Spain for forty years. The group has facilities in Madrid, Valencia and Sabiñánigo (Huesca). The latter is home to the intravenous solutions factory that serves more than twenty countries in Europe, Asia and Africa. The Spanish subsidiary has more than 700 employees.

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