Baxter completes sale of BioPharma Solutions business for $4.25B in cash

BAXTER INTERNATIONAL INC

Closed sale of Baxter Pharmaceutical Solutions LLC and Baxter Oncology GmbH to Bamboo BidCo entities for $4.25B.
Net pre-tax cash proceeds of approximately $3.96B received at closing.
Company plans to use ~$3.4B of net after-tax proceeds to pay down debt through H1 2024.
Prior full-year 2023 guidance scenario assuming no transaction is now withdrawn; only scenario with close remains.

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