Baxter International has received approval to formally close the agreement to acquire the Edward Lifesciences haemofiltration business, also known as continuous renal replacement therapy (CRRT).
Baxter will use the haemofiltration business to expand its intensive care dialysis therapy offerings and will also combine solutions, machines and ancillaries for CRRT and acute blood purification (ABP) into one business.
Baxter Europe marketing VP of renal Greg Walsh said that this acquisition enables Baxter to expand its renal offering into the haemofiltration market.
"It also presents a perfect opportunity for us to build upon our solutions' capabilities and leverage our existing haemodialysis strategic partnership with Nikkiso," Walsh said.
Under the terms of the agreement, Baxter will provide Edwards with an initial cash payment of $56m and will then receive transition services from Edwards.
Edwards will also receive an additional $9m based on revenue objectives expected to be achieved over the next two years. As part of this transaction, approximately 60 employees from Edwards Lifesciences will be integrated into Baxter Healthcare International.
Edward Lifesciences' haemofiltration, or CRRT therapy mimics the function of kidneys for patients with life-threatening kidney injuries or edema (fluid overload).
CRRT gradually removes excess fluid and waste products from the body that build up with the acute impairment of kidney function.