Corrected September 11, 2013, at 3:30 p.m.*
Medical device giant Baxter (NYSE:BAX) made another buy this month, nabbing patient fluid monitoring systems maker FlowSense for $9.5 million plus liabilities. The new acquisition comes just days after Baxter closed the books on the gargantuan $3.9 billion buyout of dialysis giant Gambro AB.
Israel-based FlowSense brings to Baxter its URINFO 2000 fluid monitoring system, which provides real-time, accurate and continuous monitoring of urine output, helping doctors prevent renal failure, treat acute kidney injuries and manage fluid and electrolyte balances, according to the company’s website.
FlowSense was founded in 2009 by The Trendlines Group, an Israel-based seed-stage-investment group focused on the life sciences, clean teach and agricultural tech. The Trendlines Group built FlowSense after acquiring the assets to the URINFO technology, and has since brought the product to markets in Europe, the U.S., Israel and China. The investment firm received several offers for FlowSense before handing the company over to Baxter, according to a company statement.
News of the acquisition comes just days after Baxter announced the consummation of its mega-deal with Swedish dialysis giant Gambro AB, which went through a couple of rounds with global anti-trust regulators before finally closing earlier this month.
BAX shares closed last night at $71.43, a 1% boost on the day.
*Due to a reporter’s error this article mistakenly stated that FlowSense was based in Minnesota. The FlowSense in Maple Grove, Minn., is unrelated to this transaction. The FlowSense company purchased by Baxter is based in Israel.