Advent International and Warburg Pincus Name Franco Negron CEO of BioPharma Solutions Following its Proposed Divestiture from Baxter

Advent International ("Advent"), one of the largest and most experienced global private equity investors, and Warburg Pincus, a leading global growth investor, today announced they have selected Franco Negron to be chief executive officer (CEO) of BioPharma Solutions (BPS) following its proposed divestiture from Baxter International Inc. (NYSE:BAX). The closing of the divestiture, which remains subject to the satisfaction of customary closing conditions, is currently expected to occur in the second half of 2023.