Baxter ’ s CEO is transforming the company: Here ’ s how

From improved corporate culture to less bureaucracy to internal innovation, CEO José Almeida has been priming Baxter for success since taking over a year and a half ago. The former CEO of Covidien, who led the company to it $50 billion merger with Medtronic in January 2015, jumped at the opportunity to lead Baxter. The company “started with a great mission, products essential to health care,” Almeida said last week at Healthegy’s Medtech Conference in Minneapolis. The company among other things sells lifesaving renal and medical products, including intravenous (IV) solutions, systems and administrative sets, IV infusion parenteral nutrition, perioperative care, pharmacy devices and software, acute renal care, and home and in-center dialysis. “What a chance to take this portfolio,” Almeida said. “What an opportunity financially as well, when I look at the balance sheet, the great leverage opportunity. And also coming to a company that had in the past a culture of innovation that may have lost its way. So why not bring what I know, what I’ve learned, from so many good people in my career to Baxter.” Besides, Almeida was ready for new challenges after the Medtronic-Covidien deal: “How many rounds of tennis can you play every day?” Since Almeida officially stepped into Baxter’s CEO spot in January 2016, the company’s stock has risen more than a third in value, to about $60 per share. During its most rece...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Wall Street Beat Baxter MedTech Source Type: news