BAXTER INTERNATIONAL INC acquires Synovis Life Technologies, Inc.
Snapshot
BAXTER INTERNATIONAL INC acquired Synovis Life Technologies, Inc. for $28.00 per share, approximately $325 million equity value (approximately $260 million net of cash) in December 2011. The transaction was structured as all cash. Synovis Life Technologies, Inc. is a St. Paul, Minnesota, USA-based BioSurgery / soft-tissue repair business.
- Acquirer
- BAXTER INTERNATIONAL INC
- Target
- Synovis Life Technologies, Inc.
- Value
- $28.00 per share, approximately $325 million equity value (approximately $260 million net of cash)
- Date
- December 2011
- Type
- full acquisition
- Status
- ready
The deal at a glance
About this deal
BAXTER INTERNATIONAL INC acquired Synovis Life Technologies, Inc. for $28.00 per share, approximately $325 million equity value (approximately $260 million net of cash), a transaction announced in December 2011, structured as all cash.
Synovis Life Technologies, Inc. operates in BioSurgery / soft-tissue repair, is based in St. Paul, Minnesota, USA, had revenue of about Approximately $70 million in annual sales (2010). 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.
The acquisition complements and will 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.
Highly complementary soft-tissue repair portfolio that expanded Baxter's presence in the growing soft-tissue repair market. Integrated into Baxter's BioSurgery franchise
No advisory firms have been disclosed for this transaction.