Thermo Fisher among bidders to acquire Baxter's biopharma unit – Reuters

JHVEPhoto/iStock Editorial via Getty Images

• Thermo Fisher Scientific (NYSE:TMO) and South Korea-based Celltrion Inc. are among those vying to acquire the biopharma solutions business of Baxter International (NYSE:BAX), Reuters reported Tuesday, citing people familiar with the matter.
• In January, Baxter (BAX) announced plans to explore strategic alternatives for the unit, which provides contract manufacturing services to the healthcare industry.
• A potential sale, which, according to sources, could generate more than $4B for the healthcare equipment maker, can help it reduce its debt load that reached $16.6B as of 2022 year-end following its $10.5B acquisition of Hill-Rom in 2021.
• Private equity firms, including KKR & Co (KKR) and The Carlyle Group Inc. (CG), have also said to be interested in Baxter’s (BAX) unit, which will still attract new bidders, sources said.
• Baxter (BAX), Thermo Fisher (TMO), and KKR (KKR) refused to comment, while Celltrion and Carlyle (CG) were not immediately available for comments.
• Read: Seeking Alpha contributor Wolf Report retained its Buy rating on Baxter (BAX) early this year, noting that the company is one of its number-one picks in healthcare/MedTech for 2023.

Comments

[Another Mountain's Rock Investing]

TMO is a buyer, while Baxter, Danaher, and many more firms sell off their assets. In other words, TMO remains top of the class.

[skymole]

@another Mountain's Rock Investing Right. And it's priced that way. BAX may be more promising as an investment.

[Another Mountain's Rock Investing]

@jemicarus sometimes it is better to invest in good companies rather than expect things to change. multiple ways to go about it though.

[user1416]

@another Mountain's Rock Investing But is Baxter's Biopharma a good investment? TMO already has good representation in CRO and manufacturing.

I don't follow Baxter, but their chart and a long string of missed earnings looks pretty bad.