(Reuters) -Baxter International on Monday named Andrew Hider as the medical device maker’s new top boss, succeeding longtime CEO Jose Almeida.
Hider previously served as CEO of ATS Corporation, a company that designs and builds machinery for industries including medical devices, food and beverage, and pharmaceuticals.
During his eight-year tenure at ATS, Hider oversaw multiple product launches and led acquisitions of companies such as Avidity Science, Heidolph, and Transformix Engineering, strengthening ATS’s life sciences portfolio.
He also spent 10 years at Danaher , a life sciences and diagnostics company, holding various leadership positions.
“Andrew’s leadership at global, diversified companies underscores his ability to manage complex operations and generate value for shareholders,” said Baxter interim CEO Brent Shafer, who will transition to independent chair of the board.
Baxter has experienced robust demand for its intravenous (IV) solutions after a supply disruption last year caused by hurricane-related flooding at one of its manufacturing facilities.
The company said that Hider will assume his new role no later than September 3, taking over from Almeida, who stepped down in February.
Almeida’s retirement followed Baxter’s $3.8 billion spinoff of its kidney care unit. During his tenure, Baxter acquired hospital bed-maker Hill-Rom for $10.5 billion and shifted its focus away from the biopharma business.
Under Almeida’s leadership, the company’s shares more than doubled to $90 in the initial years, only to shed gains during the post-pandemic years.
(Reporting by Christy Santhosh in Bengaluru; Editing by Tasim Zahid and Sriraj Kalluvila)
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