BAXTER TO PARTNER WITH UNIVERSITY, HEALTH CARE INSTITUTIONS IN BALTIMORE AREA
Company based in Chicago area to collaborate with Johns Hopkins University, LifeBridge Health System and the University of Maryland, Baltimore
BALTIMORE, MD (June 6, 2019) – Baxter International Inc.(NYSE: BAX), a leading global medical products company based in the Chicago area, joined with the Maryland Department of Commerce earlier this week to announce plans to partner with three university and health care institutions in the Baltimore area. Maryland Commerce Secretary Kelly M. Schulz met with Baxter executives at the 2019 BIO International Convention in Philadelphia to discuss the details of the company’s collaborations with Johns Hopkins University, LifeBridge Health System, and the University of Maryland, Baltimore (UMB).
“New ideas can come from anywhere, which is why we look for partnerships that can drive innovation as early as the discovery process,” said Sumant Ramachandra, M.D., Ph.D., MBA, senior vice president, chief science and technology officer, Baxter. “We’re excited to partner with these world-class institutions in Maryland to advance innovation that can improve delivery of patient care.”
“It is exciting that Baxter is working with three of Maryland’s world renowned university and health care institutions to advance surgical outcomes for patients,” said Maryland Commerce Secretary Schulz. “These collaborations have very promising potential, and our team at Commerce looks forward to working closely with Baxter to ensure their success here in Maryland.”
Maryland Commerce officials first met with Baxter during the 2018 BIO Conference, and subsequent meetings led to the company touring the state later in 2018 and connecting with a number of potential partners. As a result of those discussions, Baxter decided earlier this year to form a collaboration with Johns Hopkins University and is working to finalize a collaboration with LifeBridge Health System. In addition, the company may partner with a number of companies in the UMB BioPark.
As part of its collaboration with John Hopkins University Center for Bioengineering Innovation and Design (CBID), Baxter will provide mentoring and funding to help biomedical engineering students design new healthcare solutions and address unmet needs in surgery. Baxter will have the opportunity to license and pursue technologies developed from the collaboration.
“This year, Johns Hopkins CBID is thrilled to welcome its newest corporate partner, Baxter. Together CBID and Baxter will be looking into commercially viable opportunities for clinical benefit for patients undergoing surgery,” said Youseph Yazdi, executive director of JHU CBID. “Baxter is a forward thinking and innovative company, and we’re excited that they have selected CBID to join with them to look for ways to help in this critical surgical space.”
In addition, Baxter is in discussions with LifeBridge Health to address challenges and unmet needs facing clinicians in critical care.
“Through this partnership, we hope to develop innovative ideas to be piloted, researched and implemented with the ultimate aim of improving the care of our patients,” says Pothik Chatterjee, executive director of innovation and research at LifeBridge Health.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.
Every day, millions of patients and caregivers rely on Baxter’s leading portfolio of critical care, nutrition, renal, hospital and surgical products. For more than 85 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers that make it happen. With products, technologies and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.