BOSTON - Baxter International Inc. (NYSE:BAX), a global medtech leader, has introduced The Vest Advanced Pulmonary Experience (APX) System, a new airway clearance system for patients with chronic lung conditions. The unveiling took place at the North American Cystic Fibrosis Conference.
The Vest APX System, cleared by the U.S. Food and Drug Administration earlier this year, is designed to aid adults and children in managing chronic lung conditions that cause mucus accumulation, such as cystic fibrosis and bronchiectasis. The system utilizes High Frequency Chest Wall Oscillation (HFCWO) technology, a method pioneered by Hillrom, now a part of Baxter, to help loosen and move mucus towards larger airways where it can be expelled.
According to Jim O’Connell, president of Front Line Care at Baxter, the new system is a response to patient and clinician feedback, focusing on daily comfort and ease of use. It features a lightweight garment with a Velcro brand closure for a better fit, a fabric that wicks away moisture to keep patients cool, and a user-friendly touch screen for simple operation. The control unit is smaller and lighter than its predecessor, and it comes with a carrying case for improved portability.
Baxter's commitment to respiratory health also includes the CARE Connex Program, which provides ongoing support from clinical experts throughout the patient care journey. The Vest APX System will be showcased at the American College of Chest Physicians (CHEST) annual meeting from October 6-9 and will be available for order in the fall.
Baxter's respiratory health portfolio caters to a range of conditions, including chronic obstructive pulmonary disease (COPD), cystic fibrosis, bronchiectasis, and other conditions that compromise pulmonary function. These products and services are utilized in home care and acute care settings.
The information in this article is based on a press release statement from Baxter International Inc.
In other recent news, Baxter International Inc. continues to make strategic moves. The medical technology company has appointed Jeffrey A. Craig, the former CEO of Meritor (NYSE:MTOR) Corporation, to its board of directors, bringing valuable financial and operational expertise. Baxter has also seen significant executive changes, with the resignation of Brian Stevens from his role as Senior Vice President, Chief Accounting Officer, and Controller. Joel Grade, the current Executive Vice President and Chief Financial Officer, will serve as the interim Chief Accounting Officer.
In a major development, Baxter sold its kidney-care business, Vantive, to Carlyle Group (NASDAQ:CG) for $3.8 billion, a move aimed at managing the company's financial liabilities. Vantive, a significant player in the global kidney care market, reported revenues of $4.5 billion last year and employs over 23,000 staff.
Baxter also reported strong second-quarter results for 2024, with sales growth in multiple sectors and an increased full-year sales growth forecast to around 3%. The company's sales from continuing operations grew 3% on a reported basis and 4% at constant currency rates. Analysts have positively received these strategic moves by Baxter, although no specific upgrades or downgrades were mentioned. These recent developments are part of Baxter's ongoing efforts to streamline operations, focus on growth opportunities, and reduce debt.
InvestingPro Insights
Baxter International Inc. (NYSE:BAX) continues to innovate in the healthcare field, as demonstrated by the recent introduction of The Vest APX System. This commitment to advancing medical technology is supported by the company's solid financial metrics and positive outlook reflected in InvestingPro data. With a market capitalization of $19.58 billion and a revenue growth of 2.9% over the last twelve months as of Q2 2024, Baxter shows a steady financial performance. The company's gross profit margin stands at an impressive 38.77%, indicating a strong ability to manage costs and generate earnings.
InvestingPro Tips highlight that Baxter has raised its dividend for 7 consecutive years and has maintained dividend payments for an impressive 54 consecutive years, showcasing its commitment to shareholder returns. Additionally, analysts are optimistic about Baxter's future, with 11 analysts having revised their earnings upwards for the upcoming period, and they predict the company will be profitable this year. This positive sentiment is underscored by the company's shareholder yield and its status as a prominent player in the Healthcare Equipment & Supplies industry.
For investors interested in Baxter's financial health and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/BAX. These insights include further analysis and metrics that can help investors make informed decisions about their investments in the healthcare sector.
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