Baxter Completes SIGMA International Acquisition
Baxter International has announced it has completed its acquisition of SIGMA International General Medical Apparatus, according to a news release.
In 2009, Baxter acquired 40 percent of the privately held company based in Medina, N.Y., with an option to purchase the remaining 60 percent. To acquire the remaining 60 percent, Baxter paid approximately $90 million cash.
SIGMA develops and manufactures smart infusion pump technology including the Spectrum large volume pump. Baxter has acquired SIGMA's product development pipeline, which includes a platform of multiple infusion technologies. Within the pipeline is a syringe infusion pump that has been submitted to the FDA for 510(k) clearance.
"The acquisition of SIGMA builds upon Baxter's long-standing leadership in IV medication and fluid delivery and demonstrates our commitment to patient safety as a global, leading provider of smart infusion systems," said Robert M. Davis, president of Baxter's medical products business, in the release. "We have had a distribution relationship with SIGMA for three years. SIGMA's smart infusion technology is a great fit with Baxter's fluid system portfolio and will expand our ability to provide clinicians with a comprehensive medication delivery solution at the bedside."
Related Articles on Company Acquisitions:
Natus Medical to Acquire CareFusion's Neurodiagnostic Business
Covidien to Acquire Oridion Systems for $300M
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