Baxter International (BAX)

Baxter’s legacy operations include intravenous solutions, infusion systems, administration sets, injectable medicines, parenteral nutrition, and surgical products such as sealants and hemostatic agents. These categories make the company an important supplier of consumable and device-based products used throughout hospitals. Many of its products are tied to recurring clinical use, which gives Baxter a broad presence across patient treatment areas.

The company materially expanded its hospital equipment and digital care capabilities through the acquisition of Hillrom in 2021. That transaction added products such as hospital beds, patient support systems, operating room equipment, and patient monitoring technologies. The combination broadened Baxter from a supplier of therapies and consumables into a larger provider of hospital infrastructure and connected care tools.

Baxter has also reshaped its portfolio by divesting its kidney care business, which had been a long-standing part of the company. The sale, completed in early 2025, refocused Baxter on its remaining hospital-centered medical products and technologies. Its performance is influenced by hospital procedure volumes, healthcare purchasing trends, manufacturing reliability, supply chain costs, and regulatory standards. Baxter’s distinguishing feature is the breadth of its role inside healthcare facilities, from basic fluids and drug delivery to beds, monitoring, and surgical support products.