Baxter kidney care unit creates 70 jobs and establishes R&D center in Minnesota

Baxter International’s kidney care business plans to build a $41 million research and development center in Golden Valley, with the project expected to create about 70 jobs, outpacing Chicago.

The move comes as private equity group Carlyle is in the process of acquiring a kidney unit called Vantive. The $3.8 billion deal is expected to close late this year or early 2025, according to Baxter, and Vantive will become an independent company.

The R&D center of excellence in Golden Valley will be one of Vantive’s four worldwide headquarters and will bring together some of Baxter’s employees in Minnesota, according to a spring filing with the city of Golden Valley. The center will accommodate approximately 170 total workers.

Vantive develops and supports kidney care and organ support therapies, including types of dialysis and continuous kidney replacement therapy. It has 23,000 employees worldwide and $4.5 billion in revenue, according to an application filed with the city.

The Minnesota Department of Employment and Economic Development (DEED) will provide $3.2 million in funding incentives to Vantive for the project.

Baxter kidney care unit spokesperson Mo Tracy said the incentives will help Vantive “establish an excellent research and development center in the Golden Valley and expand our workforce focused on driving innovation in kidney care and other vital organ treatments.” a statement.

The project is at 201 General Mills Blvd., an existing 90,000-square-foot office building near Highway 55. is planned for. This strategy can offer advantages to medical and life sciences companies.

“What they’re usually trying to do is find a place where they can get up and running as quickly as possible,” said Amanda Taylor, Greater MSP’s vice president of business investments.