BAXTER INTERNATIONAL acquisition history

Hillrom is a global medical technology leader whose products and services help enable earlier diagnosis and treatment, optimize surgical efficiency, and accelerate patient recovery while shifting care closer to home, including smart bed systems, patient monitoring and diagnostic technologies, respiratory health devices and advanced surgical equipment. $156.00 per share, approximately $10.5 billion equity value (approximately $12.8 billion enterprise value including assumed debt).

Baxter and Hillrom share a common vision for transforming healthcare to better serve all patients and providers. Baxter and Hillrom are uniting to meet the challenges of a rapidly evolving global healthcare landscape, while also creating significant value for all the stakeholders we serve.José (Joe) E. Almeida — Chairman, President and CEO, Baxter

We are confident that Baxter is the ideal partner to enhance our global reach and realize the true potential of our vision as we work together to accelerate medical innovation worldwide.John P. Groetelaars — President and CEO, Hillrom

Gambro is a privately held global medical technology company based in Lund, Sweden, focused on developing, manufacturing and supplying dialysis products and therapies used in hemodialysis and continuous renal replacement therapy for patients with acute or chronic kidney disease. SEK 26.5 billion total consideration (approximately $4.0 billion), including payoff of existing Gambro indebtedness.

Baxter has a legacy of innovation in dialysis, including the development of peritoneal dialysis for the treatment of end-stage kidney disease patients in the home. This acquisition further strengthens our global dialysis offerings by extending our portfolio in the hemodialysis segment.Robert L. Parkinson — Jr., Chairman and CEO, Baxter

Both companies have a longstanding heritage in kidney care with innovative technologies and a dedication to saving, sustaining and improving the lives of patients worldwide.Guido Oelkers — President and CEO, Gambro

Synovis develops, manufactures and markets medical devices used primarily in surgical procedures for soft tissue repair, including PERI-STRIPS DRY, TISSUE-GUARD and VERITAS Collagen Matrix, providing biological and mechanical products for soft tissue repair. $28.00 per share, approximately $325 million equity value (approximately $260 million net of cash).

The medical device business that Synovis has built, and its technical capabilities to develop and manufacture surgical products, is highly complementary to Baxter's existing offering of BioSurgery products. The combined business will offer surgeons in the United States and around the world a more complete line of innovative tools used to treat patients.Ludwig Hantson — President, Baxter's BioScience business

We are enthusiastic about this transaction not only because it is beneficial to our shareholders and employees, but also because the combination of Baxter's and Synovis' product portfolios will greatly expand the combined entity's presence in the exciting and expanding soft tissue repair market, benefiting patients worldwide.Richard Kramp — President and CEO, Synovis

Claris Injectables Limited, a wholly owned subsidiary of Claris Lifesciences Limited, is a generic injectable pharmaceuticals maker producing essential generic injectable medicines such as anesthesia and analgesics, renal, anti-infectives and critical care products in bags, vials and ampoules. approximately $629 million total cash consideration, net of cash acquired.

On July 27, 2017, Baxter acquired 100 percent of Claris Injectables Limited (Claris), a wholly owned subsidiary of Claris Lifesciences Limited, for total cash consideration of approximately $629 million, net of cash acquired. Through the acquisition, Baxter added capabilities in production of essential generic injectable medicines, such as anesthesia and analgesics, renal, anti-infectives and critical care in a variety of presentations including bags, vials and ampoules.Baxter FY2017 10-K — Acquisitions note

Cheetah Medical is a provider of non-invasive fluid management and hemodynamic monitoring technologies used to guide fluid administration decisions in critical and surgical care. $188 million total cash consideration net of cash acquired, plus up to $40 million of contingent consideration (acquisition-date fair value $18 million).

On October 25, 2019, we acquired 100 percent of Cheetah Medical, Inc. (Cheetah) for total cash consideration of $188 million, net of cash acquired, with the potential for additional cash consideration, up to $40 million, based on clinical and commercial milestones for which the acquisition date fair value was $18 million.Baxter FY2021 10-K — Acquisitions note

Seprafilm Adhesion Barrier is a surgical product indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce the incidence, extent and severity of postoperative adhesions between the abdominal wall and underlying viscera, acquired from Sanofi. approximately $342 million in cash.

In February 2020, we completed the acquisition of the product rights to Seprafilm Adhesion Barrier (Seprafilm) from Sanofi for approximately $342 million in cash. Seprafilm is indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce the incidence, extent and severity of postoperative adhesions.Baxter FY2021 10-K — Acquisitions note

RECOTHROM Thrombin topical (Recombinant) is the first and only stand-alone recombinant thrombin, and PREVELEAK Surgical Sealant is used in vascular reconstruction; both hemostat and sealant products were acquired from Mallinckrodt plc. $184 million total consideration ($163 million upfront cash plus potential contingent payments).

On March 16, 2018, Baxter acquired two hemostat and sealant products from Mallinckrodt plc: RECOTHROM Thrombin topical (Recombinant) and PREVELEAK Surgical Sealant for total consideration of $184 million.Baxter FY2018 10-K — Acquisitions note

Caelyx and Doxil are the branded versions of liposomal doxorubicin, a chemotherapy medicine used to treat various types of cancer; Baxter acquired the rights for specified territories outside the U.S. from a subsidiary of Johnson & Johnson (having previously acquired the U.S. rights to the product in 2019). approximately $325 million in cash.

On February 17, 2021, we acquired the rights to Caelyx and Doxil, the branded versions of liposomal doxorubicin, from a subsidiary of Johnson & Johnson for specified territories outside of the U.S for approximately $325 million in cash. We previously acquired the U.S. rights to this product in 2019.Baxter FY2021 10-K — Acquisitions note

PerClot Polysaccharide Hemostatic System is an absorbable powder hemostat; Baxter acquired certain related assets, including distribution rights for the U.S. and specified territories outside the U.S., from CryoLife, Inc. $25 million upfront cash plus up to $36 million of additional contingent consideration (acquisition-date fair value $28 million).

On July 29, 2021, we acquired certain assets related to PerClot Polysaccharide Hemostatic System (PerClot), including distribution rights for the U.S. and specified territories outside of the U.S., from CryoLife, Inc. for an upfront purchase price of $25 million and the potential for additional cash consideration of up to $36 million, which had an acquisition-date fair value of $28 million.Baxter FY2021 10-K — Acquisitions note

Transderm Scop (TDS) is a transdermal patch used to prevent nausea and vomiting in the U.S. and motion sickness in European markets; Baxter acquired the rights for the U.S. and specified territories outside the U.S. from subsidiaries of GlaxoSmithKline. $60 million upfront purchase price (including acquired inventory) plus up to $30 million additional contingent consideration (acquisition-date fair value $24 million).

On March 31, 2021, we acquired the rights to Transderm Scop (TDS) for the U.S. and specified territories outside of the U.S. from subsidiaries of GlaxoSmithKline for an upfront purchase price of $60 million including the cost of acquired inventory and the potential for additional cash consideration of $30 million, which had an acquisition-date fair value of $24 million.Baxter FY2021 10-K — Acquisitions note