Medtech firm Baxter sees its revenues climb following its recent acquisition of Hillrom
Global medtech leader Baxter has seen revenues climb following its acquisition of medical device manufacturer Hillrom in December 2021, according to its its latest financial report.
Reporting results for the first quarter of 2022, Baxter confirmed sales in the US totalled US$1.76 billion, a nearly 50 per cent increase from the same period a year earlier, with international sales increasing 10 per cent to US$1.95 billion. Its net income was US$71 million.
The firm’s newly acquired Hillrom businesses – Patient Support Systems, Front Line Care and Surgical Solutions – contributed approximately US$755 million to first-quarter performance on a reported basis.
José Almeida, Baxter’s chairman, president and chief executive officer commented: “The Baxter-Hillrom combination unlocks the next phase of our transformation, presenting a new wave of potential to drive greater impact for patients, clinicians, employees, shareholders and other communities we serve worldwide.
“Integrating our complementary capabilities introduces additional opportunities for growth across our broad geographic footprint and also creates remarkable new possibilities for connectivity with leading-edge digital health innovation focused on enhancing care, lowering costs and increasing workflow efficiency.”
The combination unites two leading medtech organisations in a shared vision for transforming healthcare and advancing patient care worldwide.
Baxter has stated that it plans to build on its robust global footprint, including commercial and service infrastructure, to expand Hillrom products into new international markets, bringing its portfolio of products and services to even more patients and providers worldwide.
Building on the company’s collective installed base of more than two million medical devices globally, Baxter has stated that it plans to use its combined expertise in connectivity technology and integration, digital health solutions, data visualisation and analytics, therapy development, and monitoring and sensing to build a connected system that surrounds the patient and their care team.
“We are invigorated by the potential to create value for patients and customers in new ways as a combined company,” said Almeida, “and we are energized by the power we bring together as one team united in our mission to save and sustain lives. We are very excited to welcome our Hillrom colleagues to Baxter.”
Baxter’s portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products are available in more than 100 countries.
Hillrom’s wide range of products include connected smart beds, patient lifts, patient assessment and monitoring technologies, caregiver collaboration tools and respiratory care devices.
Last year Hillrom acquired contact-free continuous monitoring technology from EarlySense to enhance its digital communication offering.
https://thiis.co.uk/medtech-firm-baxter-sees-its-revenues-climb-following-its-recent-acquisition-of-hillrom/https://thiis.co.uk/wp-content/uploads/2021/06/Sabina-Sit-to-Stand-B.jpghttps://thiis.co.uk/wp-content/uploads/2021/06/Sabina-Sit-to-Stand-B-150x150.jpgMergers & AcquisitionsNewsroomSupplier NewsTrade Newsaccessible,acquisition,Baxter,healthcare,Hillrom,lifts,medical,Medtech,MobilityGlobal medtech leader Baxter has seen revenues climb following its acquisition of medical device manufacturer Hillrom in December 2021, according to its its latest financial report. Reporting results for the first quarter of 2022, Baxter confirmed sales in the US totalled US$1.76 billion, a nearly 50 per cent increase from...Liane McIvorLiane McIvorliane@thiis.co.ukEditorTHIIS Magazine