Baxter completes Sigma International acquisition

Baxter has announced the completion of its buyout of the New York-based Sigma International General Medical Apparatus.

The firm has paid $90 million (55.48 million pounds) to exercise its option to take control of the remaining 60 percent of Sigma, having purchased a 40 percent equity stake in the business in 2009.

Sigma specialises in the creation of smart infusion pump technology such as the Spectrum large volume pump, as well as various promising pipeline products, including a syringe infusion pump that has been submitted for US approval.

Baxter will now take ownership of these products, building on the global distribution arrangement it has had with Sigma since 2009.

Robert Davis, president of Baxter's medical products business, said: "Sigma's smart infusion technology is a great fit with Baxter's fluid system portfolio and will expand our ability to provide clinicians with a comprehensive medication delivery solution at the bedside."

The company published its financial report for the first quarter of 2012 earlier this week, revealing a better-than-expected sales total of $3.4 billion for the period.