Baxter International Inc., through its subsidiaries, provides a broad portfolio of essential healthcare products, including acute and chronic dialysis therapies; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices. These products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, ambulatory surgery centers, doctors' offices and patients at home under physician supervision. The company's global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. As of December 31, 2023, the company manufactured products in over 20 countries and sold them in over 100 countries.

• Employees: Approximately 60,000 (as of December 31, 2023)
• Geographic Footprint: Over 100 countries
• Headquarters: Deerfield, Illinois
• Founded: 1931
• Number of locations/facilities: Over 60 principal manufacturing locations
• Revenue: $14.81 billion (FY2023)

• CEO: José E. Almeida
• CFO: Joel T. Grade
• Chief Supply Chain Officer: James Borzi
• Chief Human Resources Officer: Jeanne K. Mason, Ph.D.
• Other Key Executives: Heather Knight, Reazur Rasul, David S. Rosenbloom, Alok Sonig, Christopher A. Toth

Key leaders have extensive experience in healthcare and related industries.

• Annual Revenue: $14.81 billion (FY2023)
• Net Income: $2.66 billion (FY2023)
• Total Assets: $28.276 billion (as of December 31, 2023)
• Number of Employees: Approximately 60,000 (as of December 31, 2023)
• Key Financial Highlights: Net sales increased 2% over 2022 on a reported basis and 3% on a constant currency basis. Net income included special items which increased net income by $1.18 billion.

Main product categories include:

• Acute and Chronic Dialysis Therapies: Peritoneal dialysis (PD), hemodialysis (HD), continuous renal replacement therapies (CRRT) and other organ support therapies.
• Sterile Intravenous (IV) Solutions: Sterile IV solutions.
• Infusion Systems and Devices: Infusion systems and administration sets.
• Parenteral Nutrition Therapies: Parenteral nutrition therapies.
• Inhaled Anesthetics: Inhaled anesthesia.
• Generic Injectable Pharmaceuticals: Specialty injectable pharmaceuticals and drug compounding.
• Surgical Hemostat and Sealant Products: Surgical hemostat, sealant and adhesion prevention products.
• Advanced Surgical Equipment: Advanced equipment for the surgical space, including surgical video technologies and precision positioning devices.
• Smart Bed Systems: Smart bed systems.
• Patient Monitoring and Diagnostic Technologies: Patient monitoring systems and diagnostic technologies.
• Respiratory Health Devices: Respiratory health devices.

The company manages its global operations based on four segments:

• Medical Products and Therapies: Includes sales of sterile IV solutions, infusion systems, administration sets, parenteral nutrition therapies and surgical hemostat, sealant and adhesion prevention products.
• Healthcare Systems and Technologies: Includes sales of connected care solutions and collaboration tools, including smart bed systems, patient monitoring systems and diagnostic technologies, respiratory health devices and advanced equipment for the surgical space.
• Pharmaceuticals: Includes sales of specialty injectable pharmaceuticals, inhaled anesthesia and drug compounding.
• Kidney Care: Includes sales of chronic and acute dialysis therapies and services, including PD, HD, CRRT and other organ support therapies.

The company's strategy focuses on driving sustainable growth and innovation aligned with its mission to save and sustain lives. Key strategic pillars include:

• Innovation: Accelerating sales growth through new connected care and core therapies offerings.
• Market Expansion: Expanding the portfolio geographically and through channel expansion.
• Operational Excellence: Simplifying operations and better aligning manufacturing and supply chains.
• Capital Allocation: Disciplined capital allocation strategies, including debt repayments, active portfolio management and returning capital to stockholders.

Baxter operates in the healthcare industry, facing competition from various international and domestic healthcare, medical products and pharmaceutical companies. Key market trends include:

• Market Position: The company has a diversified portfolio and a global presence.
• Key Competitors: The company faces substantial competition in each of its segments from companies of all sizes.
• Industry Trends: The industry is characterized by a focus on cost-effectiveness, price, service, product performance and technological innovation. There is also ongoing consolidation in the customer base and among competitors.

• Strategic Risks: The proposed spinoff of the Kidney Care business may not be completed, and difficulties may arise with the integration of Hillrom.
• Financial Risks: Global economic conditions, including inflation and supply chain disruptions, may adversely affect operations. The company may not achieve its financial goals.
• Operational Risks: Inability to obtain sufficient components or raw materials, issues with product quality, and failure to attract, develop, retain and engage key employees.
• Regulatory Risks: The company is subject to numerous laws and regulations, and non-compliance could lead to fines, damages and exclusion from healthcare programs.