Baxter International Inc. (NYSE:BAX), a global, diversified healthcare company, and ApaTech, a private equity-backed, U.K.-based orthobiologic products company, today announced a definitive agreement whereby Baxter will acquire all of the outstanding equity of ApaTech for total consideration of up to $330 million.
As a result of the acquisition, Baxter will acquire ACTIFUSE, a silicate substituted calcium phosphate synthetic bone graft material which is currently marketed in the United States, E.U., and other select markets around the world, and manufacturing and R&D facilities located in the U.K., United States and Germany.
“We are delighted to announce this transaction, and look forward to the future of our combined organizations with confidence and excitement.”
“This is a significant step in enhancing Baxter’s position in the rapidly growing orthobiologics space, and our leadership in regenerative medicine,” said Ron Lloyd, vice president and general manager, BioTherapeutics and Regenerative Medicine, Baxter. “ACTIFUSE will allow us to immediately enter the emerging bone fusion category, and ApaTech’s product pipeline is highly complementary to our existing commercial and technical capabilities in biosurgery.”
ApaTech generated sales of approximately $60 million in calendar year 2009. Baxter and ApaTech personnel will work to ensure uninterrupted operations, product distribution and ongoing support and service for ApaTech customers, distributors and business partners, and seamless integration of the business into Baxter.