{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-138972","form_type":"8-K","ticker":"BAX","cik":"0000010456","company_name":"BAXTER INTERNATIONAL INC","filed_at":"2023-05-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.752449+00:00","generated_at":"2026-06-15T07:55:22.050094+00:00","sec_items":["1.01","5.02","5.03","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Baxter signs $4.25B deal to sell BioPharma Solutions to Advent/Warburg; CFO Saccaro resigns","bullets":["Sold BioPharma Solutions (BPS) to Advent International and Warburg Pincus for $4.25B cash; net proceeds ~$3.4B after tax.","Transaction expected to close H2 2023, subject to regulatory approvals; proceeds targeted for debt reduction.","CFO Jay Saccaro resigns effective May 31, 2023; Brian Stevens named interim CFO (also remains CAO/Controller).","BPS generated ~$600M revenue in FY2023; divestiture streamlines Baxter's focus on core medtech.","Baxter reaffirms 2023 guidance except for potential impacts from proposed divestiture."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-138972","json":"https://secwatch.observer/filing/0001193125-23-138972.json","markdown":"https://secwatch.observer/filing/0001193125-23-138972.md","text":"https://secwatch.observer/filing/0001193125-23-138972.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/0001193125-23-138972-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/d406146d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T07:55:22.050094+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7775369628","claim":"James K. Saccaro resigned as Executive Vice President and Chief Financial Officer at BAXTER INTERNATIONAL INC.","evidence_excerpt":"On May 4, 2023, Mr. James K. Saccaro notified the Company of his decision to resign as the Company’s Executive Vice President and Chief Financial Officer (“ CFO ”), effective as of May 31, 2023, to join a company in the heathcare industry.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/0001193125-23-138972-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Executive Vice President and Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"e655f336d3","claim":"Brian C. Stevens changed role as interim Chief Financial Officer at BAXTER INTERNATIONAL INC.","evidence_excerpt":"Brian C. Stevens, the Company’s Senior Vice President, Chief Accounting Officer and Controller, will assume the role of interim CFO on such date (or such earlier date, in the event Mr. Saccaro were to resign or otherwise stop serving in his role as CFO, the “ Commencement Date ”)) and also continue to serve in his current role while the Company undertakes an executive search process for a permanent CFO.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/0001193125-23-138972-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"will assume the role of"},{"label":"Role","value":"interim Chief Financial Officer"}],"fact_type":"executive_change"},{"claim_id":"332b64422765440b6c38676c26af76e16e987b5c","claim":"BAXTER INTERNATIONAL INC: Amended and restated bylaws to streamline provisions relating to appointment of officers by simplifying description of duties for certain positions and making other conforming changes (effective 2023-05-06).","evidence_excerpt":"On May 6, 2023, the Board of Directors of the Company approved an amendment and restatement of the Company’s Amended and Restated Bylaws (the “ Amended and Restated Bylaws ”) in order to streamline the provisions relating to the appointment of officers by simplifying the description of duties for certain positions in Article IV and making certain other conforming changes.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/0001193125-23-138972-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"bylaw amendment"},{"label":"Effective","value":"2023-05-06"}],"fact_type":"governance_change"},{"claim_id":"5b0f972c9b98210ba364c2c45ecdad3ce8214cca","claim":"BAXTER INTERNATIONAL INC entered into Equity Purchase Agreement with Bamboo US BidCo LLC and Blitz 23-317 GmbH (collectively, Buyer) valued at $4.25 billion in cash (effective 2023-05-08).","evidence_excerpt":"On May 8, 2023, Baxter International Inc. (the “ Company ”), Baxter Healthcare Corporation, a Delaware corporation, Baxter Deutschland Holding GmbH, a German limited liability company, and Gambro Dialysatoren GmbH, a German limited liability company, each a subsidiary of the Company, entered into an Equity Purchase Agreement (the “ Purchase Agreement ”) with Bamboo US BidCo LLC, a Delaware limited liability company, and Blitz 23-317 GmbH, a German limited liability company (collectively, “ Buyer ”) to sell all issued and outstanding limited liability company interests of Baxter Pharmaceutical Solutions LLC (“ BPS ”) and all issued and outstanding equity interests of Baxter Oncology GmbH (“ BOG ” and together with BPS, the “ Divested Entities ”) to Buyer for an aggregate purchase price of $4.25 billion in cash","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10456/000119312523138972/0001193125-23-138972-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Bamboo US BidCo LLC and Blitz 23-317 GmbH (collectively, Buyer)"},{"label":"Value","value":"$4.25 billion in cash"},{"label":"Effective","value":"2023-05-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}