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.

Download the Modern Healthcare app to keep up to date with industry news.

“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.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button