Baxter International has announced Chris Toth, the former CEO of Varian, will become CEO of the company's Renal Care and Acute Therapies businesses, which is expected to spin off by midsummer.

“Chris’s deep global healthcare and operational experience, coupled with his patient- and customer-centric approach, makes him the perfect choice to lead our proposed spinoff,” said Baxter chairman, president and CEO, José E. Almeida. “I am confident that his passion for healthcare access and quality of care, strong focus on building a high-performance culture, and proven record of driving profitable growth and innovation will both build on the new company’s 70-year legacy of pioneering leadership and help guide it to new success.”

Baxter announced the spin off on January 6, describing it as a “major inflection point” that will allow the separate business entity, (Kidney Co.) to pursue more growth opportunities and innovation for kidney care as well as expand margins in the near term and beyond. Together, the Renal Care and Acute Therapies businesses made approximately $5 billion in sales globally in 2021. As a stand-alone company, they will compete in market segments worth more than $15 billion and estimated to collectively grow between 3% to 4% on a compound annual basis over the next three years.

“Baxter’s Kidney Care enterprise is a leader in the global industry, serving more than one million patients annually as a trusted partner to providers and clinicians around the world,” said Toth. “I am honored and energized to lead the proposed Kidney Co. forward with my dedicated colleagues, and to create value for the patients, providers, future investors and many other stakeholder communities we will serve.”

Toth, 43, most recently served as CEO of Varian, a Siemens Healthineers Company. Prior to that, he held numerous executive leadership roles across a two-decade career with Varian, including as president and chief operating officer; president of Varian Oncology Systems, Varian’s largest business; and president of Global Commercial and Field Operations.

Until the spinoff, which remains subject to satisfaction of customary conditions, Toth will serve as executive vice president and group president, Kidney Care, and report to Baxter chairman, president and CEO, José E. Almeida, effective June 1, 2023.

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