Texas Pacific to acquire Baxter unit for $540m

Baxter International will sell its Transfusion Therapies business to Texas Pacific Group and partner Maverick Capital.

Texas Pacific Group, along with its partner Maverick capital, has agreed to acquire the assets of the Transfusion Therapies unit of Baxter International, a medical product and service provider based north of Chicago, for $540 million (€424 million).

The sale includes the unit’s manual and automated blood collection products and storage equipment as well as five international manufacturing facilities located in Haina, Dominican Republic; La Chatre, France; Maricao and San German, Puerto Rico; and Nabeul, Tunisia.

Transfusion, which has about 3,500 employees worldwide and annual sales of more than $500 million, produces products that are used by hospitals, blood banks and plasma-collection centres throughout the world to collect and process blood and blood components for therapeutic use.

Based in Dallas, Texas, Texas Pacific Group currently manages $30 billion in assets in a variety of industries including healthcare, retail/consumer, airlines, media and communications, industrials, technology and financial services.