---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-003388"
form_type: "8-K"
ticker: "BAX"
cik: "0000010456"
company_name: "BAXTER INTERNATIONAL INC"
filed_at: "2025-02-03T23:59:59+00:00"
generated_at: "2026-05-27T03:52:44.015199+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Baxter completes $3.8B sale of kidney care business (Vantive) to Carlyle-backed buyers; net proceeds ~$3.71B

## Summary
- Sale closed Jan 31, 2025; net pre-tax cash proceeds of approximately $3.71B after working capital and debt adjustments.
- Chris Toth, EVP and Group President Kidney Care, ceased as executive officer effective closing date.
- Amendment to purchase agreement clarifies cash adjustment definitions, post-closing cash sweep mechanics, and excess withholding tax exposure.
- Original aggregate purchase price of $3.80B in cash, subject to closing adjustments.

## SEC filing metadata
- accession: 0001628280-25-003388
- form_type: 8-K
- ticker: BAX
- cik: 0000010456
- company_name: BAXTER INTERNATIONAL INC
- filed_at: 2025-02-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10456/000162828025003388/0001628280-25-003388-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10456/000162828025003388/bax-20250131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-003388
- JSON: https://secwatch.observer/filing/0001628280-25-003388.json
- Plain text: https://secwatch.observer/filing/0001628280-25-003388.txt

## Key facts
- Executive change
  Chris Toth departed as Executive Vice President and Group President, Kidney Care at BAXTER INTERNATIONAL INC.
  - Action: ceased
  - Role: Executive Vice President and Group President, Kidney Care
  source text: In accordance with the terms and conditions of the Purchase Agreement, effective as of the Closing Date, Chris Toth ceased serving as Executive Vice President and Group President, Kidney Care, and as an executive officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/10456/000162828025003388/0001628280-25-003388-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.