UPDATE 2-Baxter International plans to spin off kidney care units
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Jan 6 (Reuters) - Baxter International Inc said on Friday it plans to spin off its kidney care units, becoming the latest medical device maker to slim down its business in the face of supply chain challenges.
The company plans to spin off its kidney care units - renal care and acute therapies - into a separate listed entity in the next 12-18 months.
Baxter is also exploring alternatives for its biopharma solutions business, including a potential sale or other separation options.
The company said the restructuring will allow it to "create a more resilient supply chain and greater alignment with the company's manufacturing footprint".
For the nine months ended Sept. 30, the renal care unit reported sales of $2.77 billion, while the acute therapies and biopharma solutions units posted sales of $519 million and $491 million, respectively.
Baxter's rival Medtronic said in October it would spin off two of its smaller businesses, patient monitoring and respiratory interventions, into a new company to streamline its portfolio and increase the pace of revenue growth. (Reporting by Raghav Mahobe and Leroy Leo in Bengaluru; Editing by Shounak Dasgupta)
