Baxter International Inc. (BAX - Free Report) recently announced collaboration with the University of Southern California Center for Body Computing (“USC CBC”) to develop innovative digital solutions designed to help save and sustain lives. With the development, Baxter aims to integrate digital capabilities to advance care.
Baxter and USC CBC will focus on maintaining care, explore other strategic business collaborations and develop potential software solutions.
Financial terms of the deal have been kept under wraps.
Courtesy of the collaboration, the company will have the opportunity to join a diverse list of leading companies, non-profit organizations and government agencies working to digitize healthcare.
Other Strategic Collaborations
Baxter has accelerated the pace of acquisitions and strategic collaborations to enhance portfolio.
In the past, Baxter has collaborated with the International Society of Nephrology (ISN) to spread chronic kidney disease awareness and improve access to treatment.
In September, Baxter announced that the FDA approved its ALTAPORE Bioactive Bone Graft, a next-generation substitute for spine surgeries. Per management, ALTAPORE had earlier received clearance for use in orthopedic surgical procedures in the extremities and pelvis. The company expects to start selling ALTAPORE in the United States by the end of 2018 (read more: Baxter's ALTAPORE Bioactive Bone Graft Gets FDA Nod).
Recently, Baxter’s Actifuse Flow Bone Graft Substitute received FDA clearance. This development is expected to boost the company’s surgical portfolio under the Advanced Surgery business.
Buoyed by the streak of favourable developments, Baxter issued upbeat guidance. For 2018, the company expects adjusted earnings per share in the range of$2.94-$3. Revenues are expected to grow 6% on a year-over-year basis and 5% at constant currency (cc).
In spite of strong prospects, Baxter faces cutthroat competition from companies like Medtronic PLC (MDT - Free Report) , Boston Scientific Corporation (BSX - Free Report) and Stryker Corporation (SYK - Free Report) . All these companies have strong portfolio and are raking in billions in the medical products industry.
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