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Baxter acquires 2 surgical products from Mallinckrodt

Deerfield, Ill.-based Baxter International Inc. completed the acquisition of two surgical products from Mallinckrodt PLC for $153 million upfront.

U.K.-based Mallinckrodt will also receive future milestone payments.

The products include Preveleak, a medical device to seal holes formed during surgical repair of blood vessels, and Recothrom, a blood coagulation agent used to stop bleeding during surgeries.

Baxter will also receive the manufacturing operation for Preveleak and other related inventory related to the devices from Mallinckrodt.