Global medical giant Baxter International Inc. (NYSE:BAX) has today entered into a definitive agreement to acquire Israeli provider of non-invasive hemodynamic monitoring technologies Cheetah Medical for $190 million cash and a further $40 million in milestone payments.
With offices in Boston and Tel Aviv, Cheetah provides non-invasive fluid management monitoring technologies, designed for use in critical care, operating room and emergency department settings. The Cheetah Starling SV provides immediate, dynamic assessments of fluid responsiveness, enabling clinicians to make more confident and informed treatment for their patients.
Baxter says that Cheetah Medical will accelerate its presence in the specialized patient monitoring space with key technology used to guide fluid management- a critical aspect of patient care- as too little or too much fluid can increase mortality and risk of complications. It adds that Cheetah Medical’s technology is helping to shift care away from a "one-size-fits-all" approach to fluid administration to one that is data-driven and tailored to individual patient needs. Through this integrated approach to medication delivery and patient monitoring, clinicians will be better able to manage patients with sepsis, acute kidney injury (AKI) and other critical conditions, as well as patients undergoing surgery. Cheetah Medical's technology will also serve as a foundational component of a novel platform of specialized patient monitoring technologies currently under development..
Baxter general manager medical delivery David Ferguson said, "The robust capabilities and innovative monitoring technologies we will gain with the acquisition of Cheetah Medical will be additional strategic growth drivers as we work to eliminate preventable harm and enable personalized therapy for hospitalized patients around the world. We are enthusiastic about the opportunity to bring these products to more patients and clinicians and look forward to building upon Cheetah Medical’s expertise and technology to enhance our leadership in medication delivery and critical care."
"Cheetah Medical brings a talented team with globally recognized experience in monitoring and fluid management," added Ferguson. "We welcome the new employees who will help us grow our leadership in this space and join us in our mission to save and sustain lives."
"We strongly believe in the power of our technology to help clinicians make more confident and informed treatment decisions in ways that can help improve patient outcomes and enhance healthcare efficiencies," said Chris Hutchison, president and chief executive officer, Cheetah Medical. "Becoming part of Baxter will enable us to continue to invest in clinical and commercial initiatives on a global basis, which will help ensure that the right therapy gets to the right patients at the right time."
Published by Globes, Israel business news - en.globes.co.il - on September 10, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019