DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX), a global medtech leader, today announced that Vantive will be the name of the company's proposed spinoff of its Renal Care and Acute Therapies businesses. Vantive is expected to launch as an independent, publicly traded company by July 2024 or earlier, subject to satisfaction of customary conditions.
"Announcing the Vantive name is a critical milestone in our journey to becoming an independent company focused solely on therapies for kidney disease and other vital organ support," said Chris Toth, executive vice president and group president, Kidney Care at Baxter, who is to serve as chief executive officer of the new company upon spinoff. "The Vantive name reflects our dedicated employees' steadfast commitment to patients and our passion for helping them lead full and meaningful lives in partnership with our customers. We are eager to continue collaborating with the kidney and critical care communities as we work to transform care globally."
Vantive will carry forward Baxter's nearly 70-year legacy as a pioneer and leader in kidney disease and organ support therapies. The company will continue to serve as a trusted partner to providers and clinicians around the world, focusing on improving outcomes for the more than one million patients it serves annually in more than 70 countries. Vantive will continue its focus on driving meaningful change in kidney care and organ support through innovative technologies, digital connectivity, and services to better support clinicians and patients. As a standalone entity with its own investment priorities and enhanced management focus, Vantive should be better positioned to pursue growth opportunities and invest in innovation.
The Vantive logo and full visual identity will be unveiled at a later date. Until completion of the proposed separation in 2024, the Kidney Care business will continue to operate as Baxter. Read more about the proposed Kidney Care spinoff here.
About Baxter
Every day, millions of patients, caregivers and healthcare providers rely on Baxter's leading portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we've been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter's employees worldwide are now building upon the company's rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.
This release includes forward-looking statements concerning the company's planned spinoff of its Renal Care and Acute Therapies businesses, related timing and anticipated benefits. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: the company's ability to execute and complete the proposed spinoff; the timing for the proposed spinoff; the ability to satisfy the conditions to the proposed spinoff; and other risks identified in Baxter's most recent filings on Form 10-K and Form 10-Q and other SEC filings, all of which are available on Baxter's website. Baxter does not undertake to update its forward-looking statements unless otherwise required by the federal securities laws.
Baxter and Vantive are trademarks of Baxter International Inc. or its subsidiaries.
Contacts
Media Contact
Lauren Russ, (224) 948-5353
media@baxter.com
Investor Contact
Clare Trachtman, (224) 948-3020
