Baxter to purchase dialysis specialist Gambro

Baxter has agreed a deal to purchase the Swedish dialysis products company Gambro for 26.5 billion kronor (2.49 billion pounds).

The medical technology firm is focused on developing, manufacturing and supplying dialysis products and therapies for patients with acute or chronic kidney disease, meaning the takeover will strengthen Baxter's presence in this market.

Its product range includes offerings such as the Artis and AK 96 systems for use in haemodialysis, as well as continuous renal replacement therapy offerings such as Prismaflex.

Following the acquisition, Baxter will be able to accelerate product sales in established markets such as Europe, while expanding Gambro's reach in high-growth regions of Latin America and Asia.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "This transaction will provide attractive returns and enhance Baxter's sales and earnings growth over the company's current long-range financial plan."

Last month, the company announced that it will be working with Brazil's Hemobras to expand access to haemophilia A therapies in the South American nation.