Baxter to Acquire Synovis for $260M
The agreement is intended to expand the portfolio of Baxter’s regenerative medicine and biosurgery franchise, which includes a number of devices and biological products for hemostasis, tissue sealing and adherence.
Baxter International will acquire Synovis Life Technologies for $260 million ($325 million in equity value). The transaction is expected to close in 1Q12.
The agreement is intended to expand the portfolio of Baxter’s regenerative medicine and biosurgery franchise, which includes a number of devices and biological products for hemostasis, tissue sealing and adherence.
The Synovis board has unanimously approved the transaction. Synovis, a provider of biological and mechanical products for soft tissue repair used in a variety of surgical procedures, posted approximately $70 million in sales in 2010.
"The medical device business that Synovis has built, and its technical capabil
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