Baxter International Inc. has reached an agreement to acquire Seprafilm Adhesion Barrier and related assets from Sanofi. The agreement is in line with Baxter’s continued focus on acquiring products and technologies that have a strong strategic fit with the company’s portfolio across the hospital, including in the operating room.
The transaction contemplates a cash purchase price at closing of $350 million and is expected to close no later than the first quarter of 2020, following satisfaction of closing conditions.
“Seprafilm will be a strong complement to our leading hemostat and sealant portfolio, helping us continue to advance the art of healing with optimized patient care in the operating room,” said Wil Boren, general manager for Baxter’s Advanced Surgery business, in a statement. “While Seprafilm is clinically recognized among surgeons globally, we plan to provide commercial support for the product through our dedicated surgery salesforce and pursue opportunities for expansion in certain countries.”
Seprafilm currently has a global commercial presence including sales in the U.S., Japan, China, South Korea and France, among others. Sales of the proposed acquired products are expected to be approximately $100 million in the 12 months following close.