Carlyle to buy Baxter's kidney-care spinoff Vantive for $3.8 billion

Buyout firm Carlyle Group (CG.O) struck a deal to acquire Baxter’s kidney-care unit Vantive for $3.8 billion, the companies said on Tuesday.

The proceeds from the deal, which is expected to close by early 2025, will help medical-device maker Baxter reduce its debt pile. Baxter, which paid down about $2.8 billion of debt last year after divesting its biopharma unit, had long-term debt of $13.8 billion at the end of 2023.