N@N

Baxter Creates New Medical Products Business and Announces Key Leadership Changes

^{Published on 2010-10-12 13:35:41 - Market Wire}
 

DEERFIELD, Ill.--([ BUSINESS WIRE ])--Baxter International Inc. (NYSE:BAX) announced the formation of a new Medical Products business, combining the companya™s Renal and Medication Delivery businesses into a single global business unit. This new business brings together two organizations that can leverage many capabilities and requirements across product development, supply chain, manufacturing and regulatory affairs.

"This new organization reinforces Baxtera™s commitment to maintaining a diverse business model while accelerating the companya™s ongoing efforts to lower cost and drive productivity," said Robert L. Parkinson, Jr., chairman and chief executive officer. "This also allows us to serve customers and other stakeholders with greater efficiency and increases our organizational capacity to pursue growth initiatives."

Concurrent with the new organizational structure, the company announced key leadership changes, effective immediately:

Medical Products Leadership

Robert Davis has been appointed corporate vice president and president, Medical Products. He previously served as corporate vice president and president of the companya™s Renal business, and prior to that, served as the companya™s chief financial officer. Davis joined Baxter in 2004 from Eli Lilly and Company, where he held a number of financial roles of increasing responsibility. Davis earned his juris doctorate from Northwestern University School of Law and his master's degree from Northwestern University's Kellogg Graduate School of Management, after graduating from Miami University with a bachelor's degree in finance.

Peter Arduini, corporate vice president and president, Medication Delivery, is leaving the company for another opportunity.

BioScience Leadership

Ludwig Hantson has been appointed corporate vice president and president, BioScience, filling a role vacated by Joy Amundson, who is leaving after six years of service to the company. Hantson joined Baxter in May 2010 as corporate vice president and president of the companya™s International business. Prior to joining Baxter, Hantson was chief executive officer, Pharma North America for Novartis and spent 13 years at Janssen, a unit of Johnson & Johnson, in roles of increasing responsibility in marketing and clinical R&D. Hantson earned his PhD in Motor Rehabilitation and Physical Therapy from the University of Louvain.

"Peter and Joy have made important contributions to our organization and we thank them for their service," said Parkinson. "At the same time, wea™re very fortunate to have two outstanding leaders in Rob and Ludwig, who will support our efforts to accelerate long-term growth."

Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.