BRUSSELS, July 22 U.S. dialysis equipment maker
Baxter International secured EU regulatory approval on
Monday for its proposed $4 billion acquisition of Swedish peer
Gambro AB after pledging to divest a unit to allay competition
The European Commission said Baxter will sell its global
continuous renal replacement therapy (CRRT) business including
supply deals and intellectual property rights. Reuters had
flagged the EU approval on July 10.
The CRRT division accounts for about 2 percent of Baxter's
renal product sales. Baxter will also set up a line for the
production of fluids used in CRRT to be located in a place
designated by the buyer of the unit.
The Commission, tasked with ensuring a level playing field
in the 28-country European Union, said Baxter's concessions
addressed its concerns about the deal.
Baxter is buying Gambro from Swedish investment holding
company Investor AB and its partly owned private
equity company EQT.