Baxter International has purchased the remaining 60% equity stake of Sigma International General Medical Apparatus for a cash payment of approximately $90m.
In 2009, Baxter signed an agreement to distribute Sigma’s infusion pumps, gained a 40% equity stake and had an option to purchase the remaining 60% of Sigma.
As part of the acquisition, Baxter’s portfolio will now comprise Sigma’s product development pipeline which includes a platform of multiple infusion technologies such as Spectrum large volume pump (LVP).
Within Sigma’s pipeline is a syringe infusion pump that has been submitted to the US Food and Drug Administration for 510(k) clearance.
Baxter medical products business president Robert Davis said the acquisition of Sigma builds upon the company’s leadership in IV medication and fluid delivery and demonstrates its commitment to patient safety as a global provider of smart infusion systems.
"SIGMA’s smart infusion technology is a great fit with Baxter’s fluid system portfolio and will expand our ability to provide clinicians with a comprehensive medication delivery solution at the bedside," Davis added.