THE DEAL: Drug and medical device maker Baxter International Inc. said Tuesday it plans to buy the privately held Swedish company Gambro AB for about $2.76 billion. The deal is worth about $4 billion, counting debt.
THE REASONING: Baxter wants to broader its dialysis product portfolio. Dialysis involves removing blood from a patient, running it through a machine that cleans out impurities and then returning it to the patient's body.
ABOUT BAXTER: Based in Deerfield, Ill., Baxter also makes vaccines, bleeding disorder treatments and intravenous administration sets to deliver medicines and fluids to patients.