Baxter said it entered into an Equity Purchase Agreement with affiliates of Carlyle Group Inc. on August 12, 2024 to sell its Kidney Care business, subject to customary regulatory approvals and other closing conditions.

1. 01

   Baxter said it entered into an Equity Purchase Agreement with affiliates of Carlyle Group Inc. on August 12, 2024 to sell its Kidney Care business, subject to customary regulatory approvals and other closing conditions.

2. 02

   The company said it determined in August 2024 that its Kidney Care business met the criteria to be classified as held-for-sale and the conditions to be reported as a discontinued operation. It said it will report the business as a discontinued operation starting with its condensed consolidated financial statements for the quarter ended September 30, 2024, with prior periods retroactively adjusted.

3. 03

   The company said Exhibit 99.1 contains retrospectively adjusted, unaudited supplemental historical financial information for 6 quarters, from the quarter ended June 30, 2024 through the quarter ended March 31, 2023. It said the information is for informational purposes only.

4. 04

   The company said the discontinued operations presentation of Kidney Care affects only how certain historical financial information is reported and does not restate or revise its existing consolidated balance sheet, income statement or cash flows.

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Original filing

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