Baxter to acquire Cheetah Medical in 230m deal
Global medical products company Baxter International has agreed to acquire Cheetah Medical in a deal valued at around $230m (£186m).
Based in Boston of US and Tel Aviv of Israel, Cheetah Medical is a major provider of non-invasive hemodynamic monitoring technologies.
The deal includes an upfront cash consideration of $190m (£153m), as well as an additional $40m (£32m) based on the achievement of certain clinical and commercial milestones.
Cheetah Medical, a provider of non-invasive hemodynamic monitoring technologies
Cheetah Medical offers non-invasive fluid management monitoring technologies for use in critical care, operating room, and emergency department settings.
The acquisition of Cheetah Medical will help Baxter to expand its specialised patient monitoring portfolio.
The technology of Cheetah Medical will also serve as a foundational component of a novel platform of specialised patient monitoring technologies currently under development.
As part of an integrated system designed to aid and inform therapeutic decisions, the platform will join other Baxter devices and products.
Baxter medication delivery general manager David Ferguson said: “The robust capabilities and innovative monitoring technologies we will gain with the acquisition of Cheetah Medical will be additional strategic growth drivers as we work to eliminate preventable harm and enable personalized therapy for hospitalized patients around the world.”
Cheetah Medical provides its technology in around 30 countries across the world, including the US. Its fluid management systems are said to make an impact in more than 400 hospitals.
The acquired business will add Baxter with non-invasive hemodynamic monitoring systems, including the latest Starling SV system.
Cheetah Medical’s monitoring technologies offer productive measurements of fluid responsiveness, helping clinicians to make informed treatment decisions.
Subject to customary closing conditions, the deal is expected to be completed in the fourth quarter of this year.
Cheetah Medical president and CEO Chris Hutchison said: “We strongly believe in the power of our technology to help clinicians make more confident and informed treatment decisions in ways that can help improve patient outcomes and enhance healthcare efficiencies.”
In March this year, Baxter International has collaborated with bioMérieux for the development of future biomarkers to rapidly identify and inform the treatment of acute kidney injury (AKI).