ARTICLE SUMMARY:
Three decades ago, Baxter International was a leader in a medical device industry that was more about low tech medical supplies than high tech devices. As the industry itself transformed, however, Baxter began to lose its way, to lose its innovative edge. In 2016, former Covidien CEO Joe Almeida came on board as Baxter’s new CEO, bringing a fresh vision for innovation to this once-dynamic company.
Thirty or 40 years ago, Baxter International Inc. stood in the pantheon of medtech companies, one of a triumvirate of companies, along with Abbott Laboratories Inc. and American Hospital Supply Corp. located in the suburbs just north of Chicago.
