Three years ago, Baxter entered into an agreement with Sigma to become its exclusive global distributor while obtaining a 40 percent equity stake in the company and an option to purchase the remaining 60 percent. On April 26, Baxter announced it had exercised the option.
Baxter said it made a cash payment of around $90 million to complete the acquisition of the privately held maker of smart infusion pumps based in Medina, N.Y.
Sigma’s flagship product set is the Spectrum line of large-volume pumps, which offer wireless connectivity for data transfer and function analysis. Baxter also acquired the company’s product-development pipeline, which includes a small, syringe-type infusion pump awaiting 510(k) clearance from the FDA.
A Baxter executive said Sigma’s technology fits well with Baxter’s fluid-system portfolio to offer clinicians a medication-delivery product line for bedside patient treatment.
Baxter is publicly traded and has corporate offices in Deerfield, Ill.