Drug and medical device maker Baxter International Inc. said Thursday it will buy privately held Baxa Corp. in a deal valued at about $380 million.
Baxter, based in Deerfield, Ill., said the deal will complement its portfolio of nutrition products and drug delivery systems. Baxa had about $150 million in sales last year. Baxter expects the acquisition to be neutral to earnings next year and then add to them afterwards.
Baxa, based in Englewood, Colo., develops pharmacy technology that makes the delivery of oral drugs and IV fluids safer and more efficient, according to Baxter.