Ropes & Gray advised Advent International and Warburg Pincus in their investment in Baxter International Inc.’s BioPharma Solutions (BPS) business. Under the terms of the definitive agreement, Baxter will receive $4.25 billion in cash, subject to certain closing adjustments. The transaction was announced on May 8 in a press release.
Baxter International is a global MedTech company and BPS is a leading provider of sterile contract manufacturing solutions, parenteral delivery systems and customized support services to the pharma and biotech industries. As a standalone company and in partnership with Advent and Warburg, BPS will operate as a premier, independent end-to-end CDMO providing a range of services for clients, from clinical research to commercial deployment.
The Ropes & Gray team was led by private equity partners Annie Sipe and Christian Westra, and included private equity partner Matt Richards, finance partners Andrea Hwang and Byung Choi, tax partners David Saltzman and Adam Greenwood, litigation & enforcement partners Ruchit Patel, Samer Musallam and Jim Dowden, life sciences regulatory & compliance partner Lincoln Tsang, life sciences regulatory & compliance partner and chair Gregory Levine, life sciences partner Amanda Austin and health care counsel Alison Fethke.
Stay Up To Date with Ropes & Gray
Ropes & Gray attorneys provide timely analysis on legal developments, court decisions and changes in legislation and regulations.
Stay in the loop with all things Ropes & Gray, and find out more about our people, culture, initiatives and everything that’s happening.
We regularly notify our clients and contacts of significant legal developments, news, webinars and teleconferences that affect their industries.