Baxter agrees to sell Kidney Care segment (Vantive) to Carlyle for $3.8B cash

BAXTER INTERNATIONAL INC

Baxter to receive ~$3.5B in cash; net after-tax proceeds ~$3B; to be used for debt reduction.
Transaction expected close late 2024 or early 2025, subject to regulatory approvals.
Vantive had 2023 revenue of $4.5B and 23,000 employees; Chris Toth to remain as CEO.
Baxter targets 4-5% constant currency operational sales growth post-divestiture; adjusted operating margin ~16.5% for 2025.
Baxter expects to reach below 3.0x leverage by end of 2025.

item 1.01 item 5.02 item 7.01 item 9.01

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Departed

Chris Toth

Executive Vice President and Group President, Kidney Care

BAX · BAXTER INTERNATIONAL INC

Filed: August 13, 2024, 7:59 PM ET

Chris Toth will cease serving as Executive Vice President and Group President, Kidney Care, and as an executive officer of the Company

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Chris Toth departed as Executive Vice President and Group President, Kidney Care at BAXTER INTERNATIONAL INC.

Action: cease serving
Role: Executive Vice President and Group President, Kidney Care

Exact text from the filing

Chris Toth will cease serving as Executive Vice President and Group President, Kidney Care, and as an executive officer of the Company

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BAXTER INTERNATIONAL INC filing history →

Source: SEC EDGAR

accession 0001193125-24-199409

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