# BAXTER INTERNATIONAL INC

Summary updated: 2026-10-02T12:54:55.825483Z
Canonical: https://finbar.com/research/companies/baxter-international-inc

## Overview

Baxter International Inc. is a healthcare and medical technology company whose products support care in hospitals and other settings, including home care. Its portfolio includes intravenous solutions and infusion systems, nutrition therapies, injectable medicines and inhaled anesthetics, surgical products, smart beds, patient monitoring and diagnostic technologies, and respiratory devices. [1](https://app.finbar.com/go?id=P55699780)

Baxter’s three reportable segments are Medical Products & Therapies, Healthcare Systems & Technologies, and Pharmaceuticals. The company states that its mission is “to save and sustain lives.” [2](https://app.finbar.com/go?id=P35191174)[3](https://app.finbar.com/go?id=P62763283)[4](https://app.finbar.com/go?id=P49850994)[5](https://www.baxter.com/about-baxter)

Baxter reported $11.2 billion in global sales in 2025 and had approximately 37,500 employees worldwide. At the end of 2025, it manufactured products in more than 20 countries and sold them in more than 100 countries. [6](https://investor.baxter.com/investors/investor-overview/default.aspx)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)[1](https://app.finbar.com/go?id=P55699780) Baxter was incorporated in 1931. [8](https://app.finbar.com/go?id=P29620319)
[1](https://app.finbar.com/go?id=P55699780)[2](https://app.finbar.com/go?id=P35191174)[3](https://app.finbar.com/go?id=P62763283)[4](https://app.finbar.com/go?id=P49850994)[5](https://www.baxter.com/about-baxter)[6](https://investor.baxter.com/investors/investor-overview/default.aspx)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)[8](https://app.finbar.com/go?id=P29620319)[5](https://www.baxter.com/about-baxter)[6](https://investor.baxter.com/investors/investor-overview/default.aspx)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)

## Products & services

Baxter’s continuing product portfolio includes infusion therapies and technologies, pharmaceuticals, advanced surgery products, patient-support systems, and monitoring equipment. Infusion products include IV solutions, clinical nutrition, and the IQX Infusion Platform, which combines the Spectrum IQ large-volume pump and Novum IQ syringe pump with connectivity tools for electronic medical-record integration, drug-library distribution, and infusion analytics. ExactaMix Pro automates customized parenteral-nutrition compounding. [9](https://pro.baxter.com/products/infusion-therapies-technologies/infusion-systems-accessories/iqx-infusion-platform) [10](https://pro.baxter.com/products/infusion-therapies-technologies/clinical-nutrition/exactamix-pro)

Advanced-surgery products include hemostats and sealants such as FLOSEAL Hemostatic Matrix, TISSEEL fibrin sealant, Recothrom, PerClot, Coseal, and HEMOPATCH. Patient-care equipment includes Centrella Smart+ medical-surgical beds, Progressa+ ICU beds with positioning and in-bed pulmonary-therapy capabilities, and Connex 360 vital-signs monitors for adult, pediatric, and neonatal patients. [11](https://pro.baxter.com/products/surgical-equipment-technologies/adjunctive-hemostats-sealants) [12](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/centrella-smart-bed) [13](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/progressa-smart-bed) [14](https://pro.baxter.com/connex360)

Baxter’s pharmaceutical products include premixed IV medicines, injectable drugs, and inhaled anesthetics; examples include MYXREDLIN, NEXTERONE, CARDENE I.V., Suprane, sevoflurane, and Forane. Its pharmacy-related offerings include automated drug and nutrition compounding systems, software, and support services. In 2025, operational sales growth varied by category: Advanced Surgery rose 11%, Drug Compounding 18%, and Pharmaceuticals 2%, while Injectables & Anesthesia declined 9%. These are category growth rates, not percentages of total company sales. [15](https://pro.baxter.com/products/pharmaceuticals) [16](https://pro.baxter.com/products/pharmaceuticals/premixed-medications) [17](https://pro.baxter.com/products/pharmaceuticals/anesthetics) [18](https://pro.baxter.com/care-settings/hospital-pharmacy) [19](https://app.finbar.com/go?id=T19300354)
[9](https://pro.baxter.com/products/infusion-therapies-technologies/infusion-systems-accessories/iqx-infusion-platform)[10](https://pro.baxter.com/products/infusion-therapies-technologies/clinical-nutrition/exactamix-pro)[11](https://pro.baxter.com/products/surgical-equipment-technologies/adjunctive-hemostats-sealants)[12](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/centrella-smart-bed)[13](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/progressa-smart-bed)[14](https://pro.baxter.com/connex360)[15](https://pro.baxter.com/products/pharmaceuticals)[16](https://pro.baxter.com/products/pharmaceuticals/premixed-medications)[17](https://pro.baxter.com/products/pharmaceuticals/anesthetics)[18](https://pro.baxter.com/care-settings/hospital-pharmacy)[19](https://app.finbar.com/go?id=T19300354)[9](https://pro.baxter.com/products/infusion-therapies-technologies/infusion-systems-accessories/iqx-infusion-platform)[10](https://pro.baxter.com/products/infusion-therapies-technologies/clinical-nutrition/exactamix-pro)[11](https://pro.baxter.com/products/surgical-equipment-technologies/adjunctive-hemostats-sealants)[12](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/centrella-smart-bed)[13](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/progressa-smart-bed)[14](https://pro.baxter.com/connex360)[15](https://pro.baxter.com/products/pharmaceuticals)[16](https://pro.baxter.com/products/pharmaceuticals/premixed-medications)[17](https://pro.baxter.com/products/pharmaceuticals/anesthetics)[18](https://pro.baxter.com/care-settings/hospital-pharmacy)

## Geographic presence

Baxter reported 2025 continuing-operations sales of approximately $11.24 billion: $6.12 billion in the United States (about 54.4%) and $5.12 billion internationally (about 45.6%). Its 2025 Form 10-K reports sales in these broad geographic categories rather than providing a detailed country-level breakdown. [20](https://app.finbar.com/go?id=P44855409)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm) Baxter states that its products are sold in more than 100 countries. [6](https://investor.baxter.com/investors/investor-overview/default.aspx)

The company identifies One Baxter Parkway, Deerfield, Illinois, as its headquarters. Baxter’s public locations information describes international work locations but does not provide a comprehensive current list of operating sites or employee distribution by geography. [21](https://www.baxter.com/contact-us)[22](https://jobs.baxter.com/en/locations)
[20](https://app.finbar.com/go?id=P44855409)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)[6](https://investor.baxter.com/investors/investor-overview/default.aspx)[21](https://www.baxter.com/contact-us)[22](https://jobs.baxter.com/en/locations)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)[6](https://investor.baxter.com/investors/investor-overview/default.aspx)[21](https://www.baxter.com/contact-us)[22](https://jobs.baxter.com/en/locations)

## Business segments

For 2025, Baxter International reported three business segments: **Medical Products & Therapies**, focused on sterile IV solutions, infusion systems and therapies, parenteral nutrition, and advanced-surgery products; **Healthcare Systems & Technologies**, encompassing connected-care, patient-monitoring, respiratory-health, and surgical-space technologies; and **Pharmaceuticals**, covering specialty injectable medicines, inhaled anesthetics, and drug compounding. Baxter also reports “Other,” which is not a reportable segment. [23](https://app.finbar.com/go?id=P73290114) [7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)

Based on 2025 net sales of $11.244 billion, Medical Products & Therapies generated $5.299 billion, approximately **47.1%**; Healthcare Systems & Technologies generated $3.071 billion, approximately **27.3%**; and Pharmaceuticals generated $2.493 billion, approximately **22.2%**. “Other” contributed $381 million, approximately **3.4%**, primarily from sales to Vantive under a manufacturing and supply agreement and from certain manufacturing facilities. The filing also disaggregates segment sales into product categories; these are not additional reportable segments. [24](https://app.finbar.com/go?id=T13352383) [23](https://app.finbar.com/go?id=P73290114)
[23](https://app.finbar.com/go?id=P73290114)[24](https://app.finbar.com/go?id=T13352383)[24](https://app.finbar.com/go?id=T13352383)[24](https://app.finbar.com/go?id=T13352383)[24](https://app.finbar.com/go?id=T13352383)[24](https://app.finbar.com/go?id=T13352383)[7](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)

## Company history

Founded in 1931 by physicians Ralph Falk and Donald Baxter, Don Baxter Intravenous Products Corporation became an early commercial manufacturer of prepared intravenous solutions. Baxter’s later milestones in renal care included its first commercial dialysis system in 1956 and its first peritoneal dialysis solution in 1960. [25](https://www.baxter.com/about-baxter/our-evolution)

Baxter expanded and reshaped its portfolio through major transactions: Edwards Lifesciences became independent after a 2000 spin-off, and Baxter completed its acquisition of Gambro in 2013. In 2015, Baxter separated its biopharmaceutical business as Baxalta. [26](https://www.edwards.com/ir/news/news-details/2000/Edwards-Lifesciences-Begins-Trading-On-NYSE-After-Spin-Off-From-Baxter-International) [27](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2013/Baxter-Completes-Acquisition-of-Gambro-AB-and-Enhances-Global-Leadership-in-Renal-Therapies/default.aspx) [28](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2015/Baxters-Board-of-Directors-Approves-Separation-of-Baxalta-and-Declares-Special-Dividend-of-Baxalta-Stock/default.aspx)

Baxter acquired Hillrom in December 2021. In 2023, it sold its BioPharma Solutions business and Baxter Oncology GmbH; in 2025, it completed the sale of its Kidney Care business, then known as Vantive, to Carlyle for $3.80 billion in gross cash consideration. [29](https://www.baxter.com/news-insights/baxter-completes-acquisition-hillrom-creating-15-billion-global-medtech-leader) [30](https://www.baxter.com/news-insights/baxter-reports-third-quarter-2023-results) [31](https://app.finbar.com/go?id=P8916206)
[31](https://app.finbar.com/go?id=P8916206)[25](https://www.baxter.com/about-baxter/our-evolution)[26](https://www.edwards.com/ir/news/news-details/2000/Edwards-Lifesciences-Begins-Trading-On-NYSE-After-Spin-Off-From-Baxter-International)[27](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2013/Baxter-Completes-Acquisition-of-Gambro-AB-and-Enhances-Global-Leadership-in-Renal-Therapies/default.aspx)[28](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2015/Baxters-Board-of-Directors-Approves-Separation-of-Baxalta-and-Declares-Special-Dividend-of-Baxalta-Stock/default.aspx)[29](https://www.baxter.com/news-insights/baxter-completes-acquisition-hillrom-creating-15-billion-global-medtech-leader)[30](https://www.baxter.com/news-insights/baxter-reports-third-quarter-2023-results)

## Sources

1. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P55699780)
2. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P35191174)
3. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P62763283)
4. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P49850994)
5. [www.baxter.com](https://www.baxter.com/about-baxter)
6. [investor.baxter.com](https://investor.baxter.com/investors/investor-overview/default.aspx)
7. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/10456/000162828026007733/bax-20251231.htm)
8. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P29620319)
9. [pro.baxter.com](https://pro.baxter.com/products/infusion-therapies-technologies/infusion-systems-accessories/iqx-infusion-platform)
10. [pro.baxter.com](https://pro.baxter.com/products/infusion-therapies-technologies/clinical-nutrition/exactamix-pro)
11. [pro.baxter.com](https://pro.baxter.com/products/surgical-equipment-technologies/adjunctive-hemostats-sealants)
12. [pro.baxter.com](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/centrella-smart-bed)
13. [pro.baxter.com](https://pro.baxter.com/products/beds-patient-mobility/smart-beds-surfaces/progressa-smart-bed)
14. [pro.baxter.com](https://pro.baxter.com/connex360)
15. [pro.baxter.com](https://pro.baxter.com/products/pharmaceuticals)
16. [pro.baxter.com](https://pro.baxter.com/products/pharmaceuticals/premixed-medications)
17. [pro.baxter.com](https://pro.baxter.com/products/pharmaceuticals/anesthetics)
18. [pro.baxter.com](https://pro.baxter.com/care-settings/hospital-pharmacy)
19. [BAXTER INTERNATIONAL INC — Presentation (2025 Y), p37](https://app.finbar.com/go?id=T19300354)
20. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P44855409)
21. [www.baxter.com](https://www.baxter.com/contact-us)
22. [jobs.baxter.com](https://jobs.baxter.com/en/locations)
23. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P73290114)
24. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=T13352383)
25. [www.baxter.com](https://www.baxter.com/about-baxter/our-evolution)
26. [www.edwards.com](https://www.edwards.com/ir/news/news-details/2000/Edwards-Lifesciences-Begins-Trading-On-NYSE-After-Spin-Off-From-Baxter-International)
27. [investor.baxter.com](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2013/Baxter-Completes-Acquisition-of-Gambro-AB-and-Enhances-Global-Leadership-in-Renal-Therapies/default.aspx)
28. [investor.baxter.com](https://investor.baxter.com/investors/events-and-news/news/press-release-details/2015/Baxters-Board-of-Directors-Approves-Separation-of-Baxalta-and-Declares-Special-Dividend-of-Baxalta-Stock/default.aspx)
29. [www.baxter.com](https://www.baxter.com/news-insights/baxter-completes-acquisition-hillrom-creating-15-billion-global-medtech-leader)
30. [www.baxter.com](https://www.baxter.com/news-insights/baxter-reports-third-quarter-2023-results)
31. [BAXTER INTERNATIONAL INC — Full financial report (2025 Y)](https://app.finbar.com/go?id=P8916206)

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