Baxter International has acquired Sweden-based Gambro, a privately-held global medical technology company and producer of dialysis products.

Baxter plans to accelerate product sales in established markets such as Europe, where Gambro has an extensive presence. Baxter also will expand Gambro's reach in high-growth regions of Latin America and Asia-Pacific, where Baxter has steadily grown its peritoneal dialysis (PD) business. In addition, Baxter will build upon its core portfolio and pipeline of investigational home hemodialysis (HD) and automated PD systems by adding Gambro's dialyzers, devices and dialysis solutions, next-generation monitors and acute therapies to treat patients with serious kidney, liver and lung conditions.

Brik Eyre has been named president of the combined renal business and has been elected a corporate officer of Baxter by the company's board of directors. He will report to Robert M. Davis, president of Baxter's medical products business. Eyre joined Baxter in 2008 and was general manager of U.S. medication delivery. Previously, Eyre was general manager for Baxter's biopharma solutions business.

The total cash consideration for the transaction was approximately $3.9 billion. The transaction was financed through a combination of cash generated from overseas operations and debt issuances.