News Summary: Baxter to buy Gambro in $2.76B deal

Updated: 12/04/2012 1:35 PM KSTP.com

THE DEAL: Drug and medical device maker Baxter International Inc. said Tuesday it plans to buy the privately held Swedish company Gambro AB for about $2.76 billion. The deal is worth about $4 billion, counting debt.

THE REASONING: Baxter wants to broader its dialysis product portfolio. Dialysis involves removing blood from a patient, running it through a machine that cleans out impurities and then returning it to the patient’s body.

ABOUT BAXTER: Based in Deerfield, Ill., Baxter also makes vaccines, bleeding disorder treatments and intravenous administration sets to deliver medicines and fluids to patients.

(Copyright 2012 by The Associated Press. All Rights Reserved.)