BAXTER INTERNATIONAL acquisition history

Synovis develops, manufactures and markets medical devices used primarily in surgical procedures for soft tissue repair, including PERI-STRIPS DRY, TISSUE-GUARD and VERITAS Collagen Matrix, providing biological and mechanical products for soft tissue repair. $28.00 per share, approximately $325 million equity value (approximately $260 million net of cash).

The medical device business that Synovis has built, and its technical capabilities to develop and manufacture surgical products, is highly complementary to Baxter's existing offering of BioSurgery products. The combined business will offer surgeons in the United States and around the world a more complete line of innovative tools used to treat patients.Ludwig Hantson — President, Baxter's BioScience business

We are enthusiastic about this transaction not only because it is beneficial to our shareholders and employees, but also because the combination of Baxter's and Synovis' product portfolios will greatly expand the combined entity's presence in the exciting and expanding soft tissue repair market, benefiting patients worldwide.Richard Kramp — President and CEO, Synovis

Baxter entered into a definitive agreement to acquire privately held Prism Pharmaceuticals, a specialty pharmaceutical company based in King of Prussia, Pennsylvania. Prism had developed and won FDA approval for multiple presentations of NEXTERONE (amiodarone HCl), an antiarrhythmic agent, including the first and only ready-to-use premixed IV bag formulations plus vials and a pre-filled syringe, none containing polysorbate 80 or benzyl alcohol. Baxter had previously been the contract manufacturer selected by Prism to produce the premixed IV bags using Baxter's GALAXY container technology.

Baxter agreed to acquire all of the outstanding membership interests of Chatham Therapeutics, based in Chapel Hill, North Carolina, gaining Chatham's developmental gene therapy programs for the treatment of hemophilia. The two companies had entered a collaboration in May 2012 to evaluate Chatham's Biological Nano Particle (BNP) platform, an advanced recombinant adeno-associated virus (rAAV)-based gene therapy technology, as a treatment for hemophilia B (BAX 335), then in a Phase I/II study. The acquisition gave Baxter broad access to the platform, including the hemophilia B (FIX) program, a preclinical hemophilia A (FVIII) program, and potential future hemophilia applications.

Hillrom is a global medical technology leader whose products and services help enable earlier diagnosis and treatment, optimize surgical efficiency, and accelerate patient recovery while shifting care closer to home, including smart bed systems, patient monitoring and diagnostic technologies, respiratory health devices and advanced surgical equipment. $156.00 per share, approximately $10.5 billion equity value (approximately $12.8 billion enterprise value including assumed debt).

Baxter and Hillrom share a common vision for transforming healthcare to better serve all patients and providers. Baxter and Hillrom are uniting to meet the challenges of a rapidly evolving global healthcare landscape, while also creating significant value for all the stakeholders we serve.José (Joe) E. Almeida — Chairman, President and CEO, Baxter

We are confident that Baxter is the ideal partner to enhance our global reach and realize the true potential of our vision as we work together to accelerate medical innovation worldwide.John P. Groetelaars — President and CEO, Hillrom

PerClot Polysaccharide Hemostatic System is an absorbable powder hemostat; Baxter acquired certain related assets, including distribution rights for the U.S. and specified territories outside the U.S., from CryoLife, Inc. $25 million upfront cash plus up to $36 million of additional contingent consideration (acquisition-date fair value $28 million).

On July 29, 2021, we acquired certain assets related to PerClot Polysaccharide Hemostatic System (PerClot), including distribution rights for the U.S. and specified territories outside of the U.S., from CryoLife, Inc. for an upfront purchase price of $25 million and the potential for additional cash consideration of up to $36 million, which had an acquisition-date fair value of $28 million.Baxter FY2021 10-K — Acquisitions note

Transderm Scop (TDS) is a transdermal patch used to prevent nausea and vomiting in the U.S. and motion sickness in European markets; Baxter acquired the rights for the U.S. and specified territories outside the U.S. from subsidiaries of GlaxoSmithKline. $60 million upfront purchase price (including acquired inventory) plus up to $30 million additional contingent consideration (acquisition-date fair value $24 million).

On March 31, 2021, we acquired the rights to Transderm Scop (TDS) for the U.S. and specified territories outside of the U.S. from subsidiaries of GlaxoSmithKline for an upfront purchase price of $60 million including the cost of acquired inventory and the potential for additional cash consideration of $30 million, which had an acquisition-date fair value of $24 million.Baxter FY2021 10-K — Acquisitions note

Caelyx and Doxil are the branded versions of liposomal doxorubicin, a chemotherapy medicine used to treat various types of cancer; Baxter acquired the rights for specified territories outside the U.S. from a subsidiary of Johnson & Johnson (having previously acquired the U.S. rights to the product in 2019). approximately $325 million in cash.

On February 17, 2021, we acquired the rights to Caelyx and Doxil, the branded versions of liposomal doxorubicin, from a subsidiary of Johnson & Johnson for specified territories outside of the U.S for approximately $325 million in cash. We previously acquired the U.S. rights to this product in 2019.Baxter FY2021 10-K — Acquisitions note

Seprafilm Adhesion Barrier is a surgical product indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce the incidence, extent and severity of postoperative adhesions between the abdominal wall and underlying viscera, acquired from Sanofi. approximately $342 million in cash.

In February 2020, we completed the acquisition of the product rights to Seprafilm Adhesion Barrier (Seprafilm) from Sanofi for approximately $342 million in cash. Seprafilm is indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce the incidence, extent and severity of postoperative adhesions.Baxter FY2021 10-K — Acquisitions note

Cheetah Medical is a provider of non-invasive fluid management and hemodynamic monitoring technologies used to guide fluid administration decisions in critical and surgical care. $188 million total cash consideration net of cash acquired, plus up to $40 million of contingent consideration (acquisition-date fair value $18 million).

On October 25, 2019, we acquired 100 percent of Cheetah Medical, Inc. (Cheetah) for total cash consideration of $188 million, net of cash acquired, with the potential for additional cash consideration, up to $40 million, based on clinical and commercial milestones for which the acquisition date fair value was $18 million.Baxter FY2021 10-K — Acquisitions note

RECOTHROM Thrombin topical (Recombinant) is the first and only stand-alone recombinant thrombin, and PREVELEAK Surgical Sealant is used in vascular reconstruction; both hemostat and sealant products were acquired from Mallinckrodt plc. $184 million total consideration ($163 million upfront cash plus potential contingent payments).

On March 16, 2018, Baxter acquired two hemostat and sealant products from Mallinckrodt plc: RECOTHROM Thrombin topical (Recombinant) and PREVELEAK Surgical Sealant for total consideration of $184 million.Baxter FY2018 10-K — Acquisitions note

Claris Injectables Limited, a wholly owned subsidiary of Claris Lifesciences Limited, is a generic injectable pharmaceuticals maker producing essential generic injectable medicines such as anesthesia and analgesics, renal, anti-infectives and critical care products in bags, vials and ampoules. approximately $629 million total cash consideration, net of cash acquired.

On July 27, 2017, Baxter acquired 100 percent of Claris Injectables Limited (Claris), a wholly owned subsidiary of Claris Lifesciences Limited, for total cash consideration of approximately $629 million, net of cash acquired. Through the acquisition, Baxter added capabilities in production of essential generic injectable medicines, such as anesthesia and analgesics, renal, anti-infectives and critical care in a variety of presentations including bags, vials and ampoules.Baxter FY2017 10-K — Acquisitions note

Baxter acquired SuppreMol, a privately held biopharmaceutical company based in Martinsried, Germany that develops treatment options for autoimmune and allergic diseases, for EUR 200 million (approximately $225 million USD) before working capital and other adjustments. The deal included SuppreMol's early-stage portfolio of novel biologic immunoregulatory therapeutics focused on modulating Fc receptor signaling pathways, with lead candidate SM101 having completed Phase 2a studies in idiopathic thrombocytopenic purpura and systemic lupus erythematosus. Baxter also acquired and would continue to operate SuppreMol's Munich operations.

Gambro is a privately held global medical technology company based in Lund, Sweden, focused on developing, manufacturing and supplying dialysis products and therapies used in hemodialysis and continuous renal replacement therapy for patients with acute or chronic kidney disease. SEK 26.5 billion total consideration (approximately $4.0 billion), including payoff of existing Gambro indebtedness.

Baxter has a legacy of innovation in dialysis, including the development of peritoneal dialysis for the treatment of end-stage kidney disease patients in the home. This acquisition further strengthens our global dialysis offerings by extending our portfolio in the hemodialysis segment.Robert L. Parkinson — Jr., Chairman and CEO, Baxter

Both companies have a longstanding heritage in kidney care with innovative technologies and a dedication to saving, sustaining and improving the lives of patients worldwide.Guido Oelkers — President and CEO, Gambro

Baxter exercised its option and completed the purchase of SIGMA International General Medical Apparatus, a privately held company based in Medina, New York, acquiring the remaining 60 percent of the company for approximately $90 million in cash. Baxter had entered into an agreement with SIGMA in 2009 covering exclusive global distribution of its infusion pumps, a 40 percent equity stake, and an option to buy the rest of the company. SIGMA develops and manufactures smart infusion pump technology, including the Spectrum large volume pump, and the deal brought Baxter SIGMA's product development pipeline of multiple infusion technologies.

Baxter completed its acquisition of Baxa Corporation, a privately held global company based in Englewood, Colorado that develops pharmacy technology for the safe and efficient preparation and delivery of oral and IV doses. The acquired portfolio included the ExactaMix compounders, ExactaMed oral syringes, the NeoThrive enteral feeding system, and the DoseEdge pharmacy workflow manager. Baxa's annual sales were $157 million in 2010, and Baxter expected the business to be accretive to future sales growth.

Baxter acquired ApaTech, a U.K.-based orthobiologic products company, gaining ACTIFUSE, a silicate-substituted calcium phosphate synthetic bone-graft material marketed in the United States, Europe and other markets, along with manufacturing and R&D facilities in the U.K., the United States and Germany. The acquisition complemented Baxter's regenerative-medicine capabilities.

Baxter acquired certain assets from Alpha Therapeutic Corporation, most significantly Aralast, a plasma-derived alpha-1 antitrypsin (alpha-1 proteinase inhibitor) therapeutic. Baxter immediately divested certain of the acquired assets to third parties, retaining the Aralast therapy for its plasma-based BioScience portfolio.

Baxter acquired the majority of the assets of ESI Lederle, a division of Wyeth and a leading U.S. manufacturer and distributor of injectable generic drugs for the hospital market, offering a complete range of sterile injectable manufacturing capabilities including ampules and vials. The acquisition leveraged Baxter's injectable expertise, channel strength and manufacturing capabilities.

Baxter acquired Epic Therapeutics, a drug-delivery company specializing in the formulation of drugs for injection or inhalation, including controlled-release protein therapeutics using its proprietary PROMAXX microsphere technology. The acquisition strengthened Baxter's drug-delivery portfolio.

Baxter acquired Wockhardt Life Sciences Limited, an Indian manufacturer and distributor of intravenous fluids. The acquisition expanded Baxter's IV-solutions manufacturing and distribution footprint in India.

Baxter acquired Fusion Medical Technologies, a Fremont, California company that developed and commercialized proprietary products used to control bleeding during surgery. Fusion's collagen- and gelatin-based hemostasis products (including FloSeal) complemented Baxter's fibrin-based biosurgery technologies, broadening its offerings to seal tissue, aid wound healing and manage active bleeding.

Baxter acquired Autros Healthcare Solutions, a developer of automated patient-information and medication-management systems designed to reduce medication errors. The acquisition added medication-management technology to Baxter's medication-delivery offerings.

Baxter acquired ASTA Medica Onkologie, an oncology subsidiary of Germany's Degussa AG that developed, produced and marketed oncology products worldwide. The acquisition gave Baxter a stronger presence in the oncology market and a pipeline of oncology therapeutics.

Baxter acquired Cook Pharmaceutical Solutions, formerly a unit of Cook Group Incorporated, a Bloomington, Indiana contract manufacturer specializing in the sterile filling of syringes and vials. The purchase supported Baxter's strategy of becoming a full-line provider of drug-delivery solutions and added specialized fill-finish capacity and a skilled manufacturing, R&D and quality workforce.

Baxter acquired Sera-Tec Biologicals, which owned and operated 80 plasma-collection centers across 28 states along with a central testing laboratory. The acquisition secured plasma-collection capacity to support Baxter's plasma-based therapies within its BioScience business.

Baxter acquired North American Vaccine, Inc. (NAV), a Columbia, Maryland company engaged in the research, development, production and sale of vaccines for the prevention of human infectious diseases. The deal broadened Baxter's position in the global vaccines market and added programs such as the NeisVac-C meningococcal vaccine.

Baxter acquired Althin Medical A.B., a leading manufacturer of hemodialysis products based in Ronneby, Sweden. The acquisition greatly expanded Baxter's hemodialysis product offering and strengthened its position in the global HD marketplace, adding the Tina hemodialysis machine to Baxter's renal portfolio.

Baxter acquired Somatogen, a Boulder, Colorado biopharmaceutical company developing recombinant hemoglobin technology. The deal strengthened Baxter's position in oxygen-carrying therapeutics (so-called blood substitutes) intended to carry oxygen to vital organs in patients experiencing acute blood loss, complementing its existing hemoglobin therapeutics program.

Baxter acquired a majority interest in Bieffe Medital S.p.A., a European manufacturer of dialysis and intravenous solutions and containers, in early 1998, purchasing the remaining shares in July 1998. Bieffe brought low-cost non-PVC container technology (including its Clear-Flex containers) that strengthened Baxter's competitive position across several international IV and renal markets.

Baxter acquired Research Medical, Inc., a provider of specialized products used in open-heart surgery. The acquisition strengthened Baxter's cardiovascular surgery product line, adding cannulae, cardioplegia and related devices used during cardiac procedures.

Baxter acquired Immuno International AG, a Vienna, Austria-based global manufacturer of biopharmaceutical products and services for transfusion medicine, including plasma-derived products for hemophilia and surgical applications. The combination created one of the world's largest manufacturers of plasma products; U.S. antitrust clearance required certain divestitures and licensing commitments.