Shareholder Value and Smart Acquisitions Are Priorities for This Health Care CEO
José Almeida is on a roll at Baxter International (BAX). He kicks off 2018 and his third year as CEO of the health care company with a stock that’s up nearly 70%, strong earnings and profits, and a strategic acquisition.
Speaking with Fortune, Almeida says he is ready to do more acquisitions this year and he’s interested in “any company that is within our area of business.” Baxter is best known for its machines to treat kidney disease and for making intravenous products used in delivering drugs to patients. Based in Deerfield, Ill., Baxter has revenues of $10 billion and is on Fortune’s list of America’s 500 biggest companies.
Almeida says his acquisition strategy has the support of Dan Loeb. The activist investor owns just under 7% of Baxter and the stock is one of the top holdings of his firm Third Point. Almeida says Loeb and Third Point have been “great owners of Baxter” adding, “I think what Dan wants at the end of the day is that you create value for your shareholders.”
Watch the video above for more of our conversation with Almeida.