Baxter buys rival for $4bn

City A.M. Reporter
BAXTER International said yesterday that it would buy privately held Swedish dialysis product company Gambro for about $4bn (£2.5bn) to complement its kidney therapy portfolio.

US-listed Baxter will finance the deal with debt and cash.

The acquisition marks further consolidation in the kidney dialysis market, where Gambro and Baxter compete against rivals such as DaVita HealthCare and Fresenius Medical Care.

Gambro is one of the largest makers of equipment for hemodialysis, which is generally performed in a hospital or clinic.