• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Baxter records $3.1B impairment over Hillrom acquisition

Baxter records $3.1B impairment over Hillrom acquisition

October 27, 2022 By Danielle Kirsh

Baxter logoBaxter (NYSE:BAX) today posted third-quarter results that were in line with estimates on Wall Street, but it lowered its outlook for the remainder of the year amid macroeconomic headwinds.

The Deerfield, Ill.–based company — maker of renal care products, drug delivery devices and more — also recorded impairment charges of $3.1 billion related to its $12.5 billion acquisition of Hillrom in December 2021. The charges reflect changes in macroeconomic factors, such as rising interest rates and broad declines in equity valuations, and the impact of current supply chain challenges for the legacy Hillrom businesses, according to Baxter.

As a result of the impairment charges, Baxter lost $2.9 billion, or $5.83 per share, on sales of $3.77 billion for the three months ended Sept. 30, 2022. The results swung Baxter to a large loss on sales growth of 16.96% compared with Q3 2021.

Adjusted to exclude one-time items, earnings per share were 82¢, in-line with estimates on Wall Street, where analysts were looking for sales of $3.77 billion.

“Baxter’s wide-ranging product portfolio is fundamental to healthcare globally, and at the heart of our sustained success over more than nine decades,” President and CEO José Almeida said in a news release. “We continue to navigate today’s challenging macroenvironment and have taken decisive action on multiple fronts to mitigate ongoing macroeconomic headwinds, while remaining focused on the needs of all our stakeholders – from patients, clinicians and customers to our employees and shareholders. Our vision for the company and fundamental strengths are intact. We remain confident in our ability to deliver innovation for patients, to realize the potential of the Hillrom acquisition and to continue strategically optimizing our portfolio.”

Baxter is updating its financial outlook for the year to reflect the continued impact from supply constraints for electromechanical components, foreign exchange pressures, increased interest expenses and a higher effective tax rate. For full-year 2022, Baxter now expects U.S. GAAP earnings to be a loss of $4.52 to $4.45 per diluted share and adjusted earnings before special items to be $3.53 to $3.60 per diluted share. It anticipates sales growth of 17–18% on a reported basis and approximately 23% on a constant currency basis.

Shares in BAX were down 5.83% to $54.27 apiece in afternoon trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up slightly.

Filed Under: Business/Financial News, Diagnostics, Drug Pumps, Drug-Device Combinations, Featured, MassDevice Earnings Roundup, News Well, Wall Street Beat Tagged With: Baxter

More recent news

  • Medtronic earns CE mark for redo TAVI procedure
  • Natus Neuro launches BrainWatch AI-driven, point-of-care EEG
  • Boston Scientific has positive real-world Acurate Prime TAVI data
  • Johnson & Johnson MedTech launches ultrasound catheter for imaging in cardiac ablation procedures
  • Onward reports more successful BCI implants

About Danielle Kirsh

Danielle Kirsh is an award-winning journalist and senior editor for Medical Design & Outsourcing, MassDevice, and Medical Tubing + Extrusion, and the founder of Women in Medtech and lead editor for Big 100. She received her bachelor's degree in broadcast journalism and mass communication from Norfolk State University and is pursuing her master's in global strategic communications at the University of Florida. You can connect with her on Twitter and LinkedIn, or email her at [email protected].

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy