Baxter Announces Acquisition of PerClot Polysaccharide Hemostatic System to Expand Advanced Surgery Portfolio
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July 29, 2021 1:06 PM EDT
Stifel analyst Rick Wise lowered the price target on Baxter International (NYSE: BAX) to $90.00 (from $95.00) while maintaining a Buy rating.
The analyst commented, "Overall, Baxters 2Q21 results seemed mixed, if not slightly-disappointing. Total sales were basically in-line with Stifel/Consensus (+8% operationally), aided... More
July 29, 2021 8:01 AM EDT
(Updated - July 29, 2021 8:02 AM EDT)
CryoLife, Inc. (NYSE: CRY), a leading cardiac and vascular surgery company focused on aortic disease, announced today that it has completed the sale of its PerClot product line to a subsidiary of Baxter International, Inc. ("Baxter") (NYSE: BAX ), for up to $60.8 million in cash. Of the $60.8 million, CryoLife will receive up to $45.8 million and Starch Medical, Inc. ("SMI") will receive up to $15.0 million. In this sale, CryoLife has transferred its PerClot product line to Baxter and SMI has agreed to transfer or extend certain rights to... More
