Spending spree? Baxter adds Synovis for $325M

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Blood-product and intravenous-drug maker Baxter has acquired Synovis Life Technologies, which produces devices and biological products used in soft-tissue repair, for $325 million.

The deal will boost Deerfield, Ill.-based Baxter’s presence in regenerative medicine and biosurgery, the companies said in a joint statement. St. Paul, Minn.-based Synovis products are used in an array of interventions, among them obesity surgery, hernia repair and orthopedic procedures such as rotator-cuff and tendon repairs.

The transaction comes three-and-a-half months after Baxter purchased Baxa for $380 million, seeking to grow its business in nutrition products and drug-delivery systems.