Deal to close by early 2025 (Il Sole 24 Ore Radiocor) - New York, 13 Aug - The US medical technology group Baxter International said it has signed a definitive agreement to sell its kidney care segment to the private equity Carlyle for 3.8 billion dollars.

The business will be renamed Vantive.

Under the terms of the agreement, Baxter will receive approximately 3.5 billion dollars in cash with net after-tax proceeds currently estimated to be approximately 3 billion dollars.

Baxter intends to use after-tax proceeds from the transaction to reduce its debt.

Carlyle's investment in Vantive is made in partnership with Atmas Health, a collaboration among three industry executives founded in September 2022.

The transaction is expected to close in late 2024 or early 2025, Baxter added.

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(RADIOCOR) 13-08-24 13:42:40 (0307) 5 NNNN