Baxter International Inc. Overview
Pro stress-test →Baxter International is a global medtech company that supplies hospitals, physician offices and other care settings with connected solutions, medical devices and advanced injectable technologies. In 2025, the company reported revenue from continuing operations of $11.2B with 3% operational sales growth, reflecting its post-divestiture portfolio focused on core high-margin business units.
Strategic Profile
Pro stress-test →Baxter entered 2026 focused on executing a broad turnaround strategy aimed at restoring growth, improving cash flow and strengthening operational discipline. In August 2025, the company appointed Andrew Hider as President and CEO and separated the Chair and CEO roles, with Brent Shafer serving as Non-Executive Chair. The company targets net leverage of about 3.0x by the end of 2026, prioritizing debt repayment while maintaining a quarterly dividend.
Competitive Landscape
Pro stress-test →Baxter competes in the fragmented global medtech market across multiple segments including infusion therapies, surgical solutions, patient support systems, and healthcare IT. Primary competitors include Becton Dickinson (infusion/IV systems), Medtronic (surgical and monitoring solutions), B. Braun (infusion therapies), and Teleflex (vascular access and surgical products).
Industry Context
Baxter International Inc. operates in Medical device manufacturing and infusion therapies.
Key facts
Founded: 1931 · Headquarters: Deerfield, US · Employees: 37,500 · Revenue: $11.2B · Market cap: $10.1B