Baxter’s earnings rise with Hillrom acquisition

Baxter’s shares were slightly lower on the news this morning, trading at around $70 a share.

Baxter, a maker of dialysis machines and other equipment for operating theaters and critical care units, attributed revenue growth to the acquisition of Hillrom, which contributed about $755 million to Baxter’s first-quarter results. In addition, Baxter’s drug delivery and biopharma verticals saw double-digit growth in the first quarter.

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“Our positive momentum in the first quarter of 2022 was driven by the diversity and robustness of our portfolio of essential healthcare products — a momentum that has been further strengthened by our recent acquisition of Hillrom,” Jose E. Almeida, Baxter Chairman, President and CEO. , the message says.

Baxter acquired Hillrom, which sells hospital beds, patient monitors and other medical equipment, last year for $10.5 billion.

This story first appeared in our sister publication, Crane’s Chicago business.