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Baxter to acquire Seprafilm Adhesion Barrier
Posted on Monday, 02 December 2019 14:38
Baxter International has agreed to pick up Seprafilm Adhesion Barrier and its related assets from Sanofi in a deal worth USD 350.00 million in cash.
These such products, hemostats and sealants are important for surgeons to manage intraoperative bleeding and reduce adhesions, which can occur when scar tissue from any kind of surgery develops and binds to nearby tissue.
Baxter said the deal is in line with its focus on acquiring businesses that have a strong strategic fit with the company’s leading portfolio across the hospital, including in operating rooms.
Seprafilm currently has a global commercial presence including sales in the US, Japan, China, South Korea and France.
The adhesion barrier division is used in patients undergoing abdominal or pelvic laparotomy, as an adjunct intended to reduce the incidence, extent and severity of postoperative adhesions.
It is expecting sales of USD 100.00 million in the 12 months following completion, scheduled no later than the first quarter of 2020.
Will Boren, general manager of Baxter’s advanced surgery business, said: “Seprafilm will be a strong complement to our leading hemostat and sealant portfolio, helping us continue to advance the art of healing with optimised patient care in the operating room.
“While Seprafilm is clinically recognised among surgeons globally, we plan to provide commercial support for the product through our dedicated surgery salesforce and pursue opportunities for expansion in certain countries.”
Shares in Baxter closed down slightly to USD 81.97 today, giving the business a market capitalisation of USD 41.85 billion.
The company has six global businesses in sectors such as pharmaceuticals, clinical nutrition and advanced surgery.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,131 deals targeting medical equipment and supplies manufacturers announced worldwide since the start of 2019.
In the largest of these, 3M Company paid USD 6.73 billion for Acelity, a surgical healing and hospital patient-mobility equipment maker.
NxStage Medical, BioTek Instruments and National Seating & Mobility, among others, have also been targeted in 2019 to date.
© Zephus Ltd