BAXTER INTERNATIONAL INC acquired Bieffe Medital S.p.A. for $244M, a transaction completed in 1998, structured as Acquisition of a majority interest in early 1998 with the remaining shares purchased in July 1998; total purchase price including assumed debt.
Bieffe Medital S.p.A. operates in Renal and Medication Delivery, is based in Italy. 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.
Broadened Baxter's ability to serve the global IV and dialysis markets and added non-PVC container technology for international competitiveness.
Advisory firms were not disclosed for this transaction.