Baxter International, a global medtech leader, agreed to sell its kidney care segment, to be named Vantive, to global investment firm Carlyle for $3.8 billion.
The deal comes after Baxter announced plans in January 2023 to create a standalone kidney care company to enhance future performance, allowing flexibility to put capital towards opportunities that will accelerate both companies’ growth objectives.
Vantive is a leader in global kidney care, offering products and services for peritoneal dialysis, hemodialysis and organ support therapies. In 2023, it had revenues of $4.5 billion.
The S&C team advising Baxter on corporate matters includes Melissa Sawyer, Matt Goodman, Elizabeth Pompliano and Nickolas Kinslow. Davis Wang and John Jo are advising on tax matters. Heather Coleman is advising on executive compensation matters. Mehdi Ansari is advising on intellectual property matters. Cathy Clarkin is advising on disclosure matters. Michael Rosenthal, Samantha Hynes, Kolja Ortmann and Chiara Neirotti are advising on antitrust and regulatory matters.