2022 Revenues ($USD) : $12,784,000,000
2022 R&D spend : $534,000,000
2022 Number of Employees : 60,000
Fiscal Year End : 12/31/2021
Company CEO : José E. Almeida, chair, president and CEO

Fresh off of closing its $12.5 billion acquisition of Hillrom at the end of 2021, Baxter has moved up two spots to No. 10 in this year’s Big 100 report of the largest medical device companies. The company expects synergies from the deal to help fuel sales growth momentum over the next three years. Baxter said in May that it attributed such benefits to the impact of market expansion across the broader portfolio, plus new innovation fueled by the expanded capabilities the company obtains through the acquisition. A major part of the merger with Hillrom involved accelerating the companies’ expansion into digital and connected care offerings to enable patients to access hospital-level care at home or in other care settings. For example, Baxter is now the parent company of BardyDx and its Carnation Ambulatory Monitor, a lightweight, extended-wear cardiac ECG patch. – CN and SW