Global medical products company Baxter International has agreed to acquire Cheetah Medical to expand its specialised patient monitoring portfolio.
Cheetah Medical provides non-invasive haemodynamic monitoring technologies. The company, established in 2000, is headquartered in Boston and Tel Aviv, Israel.
The company’s fluid management systems are currently in use in over 400 hospitals across the US and in 30 countries globally.
Under the deal, Baxter will pay $190m in cash for the company, with potential for a further $40m based on clinical and commercial milestones.
The acquisition will provide Baxter with Cheetah Medical’s non-invasive haemodynamic monitoring systems, including the latest Starling SV system, designed to offer clinicians with fluid responsiveness measurements for maintenance of organ and tissue perfusion.
Baxter said Cheetah Medical’s technology is helping to shift fluid administration care away from a one-size-fits-all approach, enabling clinicians to better manage patients with sepsis, acute kidney injury and other critical conditions, as well as patients undergoing surgery.
The deal enhances Baxter’s products and therapies with a non-invasive haemodynamic monitoring system for fluid management. It also supports the company’s efforts to allow personalised therapy and to help eliminate preventable harm.
Baxter general manager for medication 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 personalised therapy for hospitalised patients around the world.”
The transaction is anticipated to close in the fourth quarter of the year, subject to customary closing conditions.
Cheetah Medical president and CEO Chris Hutchison said: “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.”