Baxter International
Baxter International is a global medical products company that develops connected medical devices, infusion systems, IV solutions, injectable pharmaceuticals, surgical technologies, and hospital beds for hospitals, health systems, physician offices, and alternate site care settings across more than 100 countries.
- Company typePublic
- Founded1930
- HeadquartersDeerfield, United States
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Baxter International does
Baxter International is a global medical products company headquartered in Deerfield, Illinois, founded in 1931 and publicly traded on NYSE under ticker BAX. Following the January 2025 divestiture of its Kidney Care business (Vantive) and the earlier $10.5B acquisition of Hill-Rom (2021), Baxter is now organized around two reporting segments spanning connected solutions, medical devices, and advanced injectable technologies. Its core product portfolio includes infusion pumps and IV solutions (Novum IQ Large Volume Pump), smart hospital beds and patient mobility equipment (Hill-Rom/Centrella), care communications platforms (Connex, Vital Info), surgical technologies distributed through the Synovis MCA subsidiary (including the SHIYA 3D surgical visualization platform), injectable pharmaceuticals (IV antibiotics, anesthesia, parenteral nutrition, compounding services), diagnostics, and respiratory therapy devices.
The company sells to hospitals, health systems, integrated delivery networks (IDNs), group purchasing organizations (GPOs), physician offices, alternate site care settings (ambulatory surgery centers, skilled nursing, oncology/infusion clinics, home care), and hospital pharmacies across more than 100 countries, with the United States representing 54.4% of net sales. Baxter employs approximately 38,000 people globally and operates a direct enterprise field sales motion supplemented by channel partnerships (e.g., Vigilant Software for IV Verify, MediThinQ for SHIYA 3D) and EDI/GHX e-commerce procurement. Revenue is generated primarily through GPO/IDN contract-based hardware sales of capital equipment and consumables, with connected care software and services positioned as a recurring layer. Full-year 2026 revenue is guided to $11.6–$11.7B (3–4% reported growth), reflecting recovery from the 2024–2025 Hurricane Helene disruption at the North Carolina IV facility and ongoing FDA verification work on Novum IQ.
Baxter International firmographics
Firmographics- Name
- Baxter International
- Legal name
- Baxter International Inc.
- Website
- https://baxter.com
- Company type
- Public
- Founded year
- 1930
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Baxter International is a global medical products company that develops connected medical devices, infusion systems, IV solutions, injectable pharmaceuticals, surgical technologies, and hospital beds for hospitals, health systems, physician offices, and alternate site care settings across more than 100 countries.
- Ownership category
- akta.pro rank
Baxter International industry classification
Industry- Product category
- Medical Devices and Injectable Pharmaceuticals
- NAICS
- Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)
- SIC
- Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)
- akta.pro primary industry
- Specialty Injectable & Infusion Therapies (Cross-therapeutic) (HLAIACAO)
- akta.pro secondary industries
- Specialty Care Pharmaceuticals (HLAIAAAB), IV Therapy, Infusion & Injection Services (Home-Based) (HSABACAF)
Keywords
Where Baxter International is headquartered
LocationHeadquarters
- HQ city
- Deerfield
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Baxter International business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Medical Devices and Connected Solutions: Baxter generates revenue from a diversified portfolio spanning infusion systems and therapies, beds and patient mobility equipment, care communications, diagnostics, respiratory therapy devices, and surgical technologies. Revenue is generated through direct sales to healthcare providers, group purchasing organizations, and integrated delivery networks. The company operates on a two-segment reporting structure (debuting Q2 2026) covering continuing operations.
- Pharmaceuticals / Advanced Injectable Technologies: Revenue from injectable pharmaceuticals including IV solutions, antibiotics (cefazolin), anesthesia, drug compounding, and parenteral nutrition. A $0.11 per diluted share tariff refund under IEEPA was recognized in Q2 2026. The company faced a recall of one lot of cefazolin IV bags due to cardboard particle contamination and supply constraints in its Pharmaceuticals Injectables division.
- Advanced Surgery: Strong performance segment including Synovis MCA's microsurgery products and the SHIYA 3D visualization platform distributed globally. Advanced Surgery is identified as a key growth driver alongside drug compounding.
- Connected Care / Software: Revenue from connected care solutions including software, monitoring systems, and data integration platforms that help clinicians reduce inefficiencies and close gaps in care. This includes connected infusion devices and care communications products.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Enterprise healthcare provider contracts via GPO/IDN |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Baxter International product offering
Product offeringCore offering
Baxter International develops, manufactures, and markets a diversified portfolio of medical devices, advanced injectable pharmaceuticals, and connected care solutions for hospitals, health systems, physician offices, alternate site care settings, and home care environments globally. Core product lines include infusion pumps and IV solutions (including the Novum IQ Large Volume Pump), hospital beds and patient mobility equipment (Hill-Rom), surgical visualization platforms (SHIYA 3D), respiratory therapy devices, care communications software, and injectable medications serving more than 100 countries.
Product overview
Baxter International is a diversified medical products company offering a unified portfolio of connected solutions, medical devices, and advanced injectable technologies spanning hospital, physician office, and home care settings. The portfolio is organized around core product categories that work together: Infusion and Nutrition systems (including Novum IQ Large Volume Pump) deliver medications and nutritional therapies; Beds and Patient Mobility equipment (Hill-Rom brand) provide smart/IoT-enabled hospital beds; Care Communications platforms (Connex, Vital Info) enable real-time monitoring and clinical decision support; Connected Care solutions integrate devices and data across hospital IT systems; Surgical Equipment and Technologies include the SHIYA 3D Visualization Platform distributed through Synovis MCA subsidiary; and Pharmaceuticals encompass injectable medicines and drug compounding services. Additional offerings include Diagnostics and Examination equipment and Respiratory Therapy and Devices, all supported by product training, technical support, and clinical resources.
Differentiator
Problem solved
Functional benefit
Brands
- Synovis MCA: Surgical visualization and microsurgery technologies subsidiary
- Hill-Rom
Products and services
- Beds and Mobility Equipment (Hill-Rom)
- Care Communications
- Connected Care
- Diagnostics and Examination
- Infusion and Nutrition
- SHIYA 3D Visualization Platform
- Pharmaceuticals
- Respiratory Therapy and Devices
- Surgical Equipment and Technologies
- IV Verify Line Labeling System
Quantifiable outcome
- Q2 2026 adjusted EPS of $0.56 beat consensus estimate of $0.37 by 51% and revenue of $2.96B beat by ~6%
- +2 more outcomes
Companies that use Baxter International
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Baxter International technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature4 records
Baxter International partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Retia MedicalminorRetia Medical appointed Christopher Benassi, former Vice President of Baxter International's Connected Care Group, to its Strategic Advisory Board to support commercialization expansion of cardiovascular intelligence software (Argos Cardiac Output Monitor and Argos Infinity platform) in US and international markets, including virtual and tele-ICU environments. Benassi brings over 15 years of healthcare and medtech leadership experience from leading Baxter's Connected Care Group focused on AI and critical care monitoring technologies.
- MediThinQcoreMulti-year exclusive global distribution agreement with MediThinQ (South Korea) for the SHIYA 3D surgical visualization platform. Synovis MCA, a Baxter subsidiary, will commercialize the platform leveraging its established microsurgery expertise and hospital relationships. The platform combines a digital exoscope with up to 20x magnification and proprietary wearable display SCOPEYE, enabling surgeons to operate without traditional optical microscopes while capturing and sharing procedure data in real time. Regulatory approvals secured in US, Europe, Japan, China, South Korea, UK, Australia, and Taiwan.
- Vigilant SoftwareminorExclusive distribution agreement for the IV Verify Line Labeling System, developed by Vigilant Software. The system is designed to streamline nursing workflows and improve medication safety at the bedside. Launched at the 2026 American Organization for Nursing Leadership Conference.
- TANKER FoundationminorBaxter PD Solutions participated in TANKER Foundation's CAPD fluid bag distribution programme under Tamil Nadu's Chief Minister's Comprehensive Health Insurance Scheme. Georgi Abraham, who pioneered CAPD in India in 1991, presided over the event where the first CAPD fluid bag was distributed to patient K. S. Manoharan.
- INCOSE IndiaminorSRM University-AP partnered with INCOSE India to host a Healthcare Industry-Academia Dialogue Forum supporting a new B.Tech. in Health Engineering programme. Representatives from Baxter International, Philips, Stryker, and Medtronic participated to contribute to curriculum design and pledged continued research collaboration and student engagement.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Baxter International competitors and assessment
Company assessmentBroad incumbents
- GE HealthCare: Imaging, diagnostics, and patient monitoring powerhouse that competes with Baxter's connected care and diagnostics portfolios, with deeper AI and software capabilities.
- Becton Dickinson (BD): Global medical technology company with overlapping portfolios in infusion, medication management, and connected care, and a large installed base in hospitals that competes with Baxter's broader offerings.
- Medtronic: Diversified medical device leader with overlapping franchises in patient monitoring, surgical technologies, and infusion-adjacent therapy areas. Competes with Baxter in connected care and capital equipment.
- Stryker: Major medical device company competing in surgical equipment, hospital beds, and connected care—direct overlap with Baxter's Hill-Rom beds and surgical visualization franchises.
- Cardinal Health: Large healthcare distributor and medical products manufacturer with overlapping offerings in hospital supplies and injectable pharmaceuticals, distributing products that compete with Baxter's portfolio.
Direct peers
- B. Braun: Privately held German medical device and pharmaceutical company and Baxter's most direct competitor in IV solutions, infusion pumps, and clinical nutrition products globally. B. Braun matches Baxter across the IV fluids and infusion therapy categories.
- Fresenius Kabi: Specializes in IV generic drugs, infusion therapies, and clinical nutrition, directly competing with Baxter in injectable pharmaceuticals and IV solutions across hospital and alternate site care settings.
- ICU Medical: Focused on IV therapy, infusion pumps, and medical connectors, ICU Medical is a direct competitor in the infusion pump and IV consumables market where Baxter's Novum IQ platform competes.
Emerging players
- Teleflex: Specialty medical device company focused on critical care and surgical products, with overlapping offerings in infusion accessories and respiratory care that intersect with Baxter's portfolio.
Others
- Owens & Minor: Medical supply distribution and patient-direct businesses serving hospitals and home care, providing a distribution channel that parallels Baxter's hospital and home care reach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Baxter International social profiles
Digital presenceBaxter International compliance and trust
Trust signalCompliance5 records
Baxter International financial estimates
Financial estimateRevenue estimate
Valuation estimate
Baxter International leadership team
Management profileNumber of profiles
Profiles12 records
Baxter International subsidiaries and ownership
Company hierarchySubsidiaries2 records
Baxter International funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Baxter International M&A and investment
M&A and investmentM&A19 records
Investments13 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Baxter International
What does Baxter International do?
Baxter International develops, manufactures, and markets a diversified portfolio of medical devices, advanced injectable pharmaceuticals, and connected care solutions for hospitals, health systems, physician offices, alternate site care settings, and home care environments globally. Core product lines include infusion pumps and IV solutions (including the Novum IQ Large Volume Pump), hospital beds and patient mobility equipment (Hill-Rom), surgical visualization platforms (SHIYA 3D), respiratory therapy devices, care communications software, and injectable medications serving more than 100 countries.
Is Baxter International a public or private company?
Baxter International is a public company. It is classified as public and is currently operating.
When was Baxter International founded?
Baxter International was founded in 1930. It employs 5,001 to 10,000 people.
Where is Baxter International based?
Baxter International is headquartered in Deerfield, United States, in the North America region.
How does Baxter International make money?
Four revenue lines are on record. Medical Devices and Connected Solutions are the primary driver. The others are pharmaceuticals / Advanced Injectable Technologies, advanced Surgery and connected Care / Software.
Who are Baxter International's main competitors?
Broad incumbents on record are GE HealthCare, Becton Dickinson (BD), Medtronic, Stryker and Cardinal Health. Direct peers are B. Braun, Fresenius Kabi and ICU Medical. Teleflex is listed as an emerging player. Owens & Minor is listed as an others.
Does Baxter International have an API?
No public API is recorded for Baxter International.
What industry is Baxter International in?
Baxter International's product category is Medical Devices and Injectable Pharmaceuticals. Its primary akta.pro industry code is HLAIACAO, Specialty Injectable & Infusion Therapies (Cross-therapeutic), with a secondary code of HLAIAAAB, Specialty Care Pharmaceuticals. Its NAICS code is 339112 and its SIC code is 3841.