Baxter announces takeover of Gambro

Baxter has announced the takeover of Gambro in a deal worth $3.9 billion (2.49 billion pounds), thus enhancing its leadership position in the renal therapies market.

Gambro is a prominent developer of medical technologies and dialysis products and has an extensive reach in territories such as Europe, as well as a broad portfolio of dialysers, devices and dialysis solutions, innovative next-generation monitors and acute therapies for patients with serious kidney, liver and lung conditions.

By combining the two companies' capabilities and product ranges, Baxter will be able to reach a larger number of disease sufferers worldwide.

Coinciding with the announcement, Brik Eyre has been named president of the combined renal business and will become a corporate officer of Baxter.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "The combination of these two respected renal leaders will enable Baxter to better serve healthcare providers and patients through a collective offering of innovative renal products and therapies."

Earlier this year, the company made a new investment in Ocular Therapeutix, a specialist developer of ophthalmic therapeutic products.