Baxter to acquire soft tissue repair specialist Synovis

Baxter has announced the acquisition of Synovis, a specialist provider of biological and mechanical products for use in soft tissue repair procedures.

The transaction has been valued at $325 million (210.12 million pounds) and will allow Baxter to expand its product offering in the regenerative medicine and biosurgery field.

Synovis is responsible for the creation of medical devices for a wide range of surgical procedures, including Peri-Strips Dry, Tissue-Guard and the Veritas Collagen Matrix, as well as microsurgery products such as Coupler, Flow Coupler and Gem Microclip.

It has also recently branched out into the orthopaedic and wound management sector, meaning its product range is highly complementary to Baxter's existing offerings.

Ludwig Hantson, president of Baxter's bioscience business, said: "The combined business will offer surgeons in the US and around the world a more complete line of innovative tools used to treat patients."

This comes after the company completed the acquisition of Baxa Corporation, which specialises in pharmacy technology for dose preparation and delivery.