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Baxter International splits in two

A new, smaller Baxter International is to be created in a move designed to resurrect Baxter's share price. The company's board of directors has approved a plan to spin off its hospital supply business into a separate entity, leaving Baxter International to focus on the more sophisticated and profitable medical technology businesses - a strategy which Baxter management considered two years ago, but decided "it was not the right thing to do" at that time.

A new, smaller Baxter International is to be created in a move designed to resurrect Baxter's share price. The company's board of directors has approved a plan to spin off its hospital supply business into a separate entity, leaving Baxter International to focus on the more sophisticated and profitable medical technology businesses - a strategy which Baxter management considered two years ago, but decided "it was not the right thing to do" at that time.

The streamlined Baxter International, with annual sales of around $5,000 million and led by current Baxter chairman and CEO Vernon...

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