Baxter Completes Acquisition of RECOTHROM and PREVELEAK to Broaden Surgical Hemostat and Sealant Portfolio
Baxter International Inc. has acquired RECOTHROM and PREVELEAK in an effort to broaden their horizons.
Wed Apr 18 2018
DEERFIELD, Ill., MARCH 19, 2018 – Baxter International Inc. (NYSE: BAX), a global medical products company, is committed to advancing surgical innovation and today announced it has completed its previously announced acquisition of two hemostat and sealant products from Mallinckrodt plc. RECOTHROM Thrombin topical (Recombinant) is the first and only stand-alone recombinant thrombin and PREVELEAK Surgical Sealant is used in vascular reconstruction.
Both products complement and broaden Baxter’s existing surgical portfolio of hemostats and sealants. With RECOTHROM, Baxter can now provide surgeons with additional options of innovative hemostatic products to handle different severities of bleeding, while PREVELEAK complements its existing portfolio of advanced surgical sealants.
“We are excited to add both RECOTHROM and PREVELEAK to our portfolio of hemostats and sealants to offer surgeons additional options that address different situations when intraoperative bleeding can occur,” said Wil Boren, president of Baxter’s Advanced Surgery business. “Our top priority right now is working with customers and distributors to ensure a smooth transition.”
The deal is expected to be modestly accretive to Baxter’s 2018 adjusted earnings and increasingly accretive thereafter. Under the terms of the agreement, Baxter is acquiring RECOTHROM and PREVELEAK for an upfront payment of approximately $153 million and potential contingent payments in the future.
About Baxter’s Surgery Portfolio
Baxter is committed to advancing surgical innovation with a variety of products and delivery devices used for hemostasis (addressing bleeding), tissue sealing, and hard tissue regeneration, as well as soft tissue repair and microsurgery. With products available in nearly 60 countries, Baxter is at the forefront of providing surgeons and hospitals with innovative products that improve patient outcomes, are convenient to use and are cost-effective.