Published: Tuesday, 10 January 2017 22:06
Written by Administrator
Baxter International Inc. is an American health care company with headquarters in Deerfield, Illinois. The company primarily focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions. The company had 2013 sales of $16.3 billion, across two businesses: BioScience and Medical Products. Baxter's BioScience business produces recombinant and blood plasma proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies and other chronic and acute blood-related conditions; products for regenerative medicine, and vaccines. Baxter's Medical Products business produces intravenous products and other products used in the delivery of fluids and drugs to patients; inhalational anaesthetics; contract manufacturing services; and products to treat end-stage renal disease, or irreversible kidney failure, including products for peritoneal dialysis and hemodialysis.
Baxter International was founded in 1931 by Donald Baxter, a medical doctor, as a manufacturer and distributor of intravenous therapy solutions. Baxter's interest was bought out in 1935 by Ralph Falk, who established a research and development function. In 1939 the company developed a vacuum-type collection container, extending the shelf life of blood from hours to weeks. In 1954, the company expanded operations outside of the United States by opening an office in Belgium. In 1956 Baxter International introduced the first functioning artificial kidney, and in 1971 became a member of the Fortune 500.
In 1971, Baxter built a major manufacturing plant in Ashdod, Israel and as a result, the company was placed on the Arab League boycott list in the early 1980s.
Throughout the 1980s and 1990s the company expanded to deliver a wider variety of products and services (including vaccines, a greater variety of blood products) through acquisitions of various companies. Sales and production facilities also expanded throughout the world.
In 1982, Baxter acquired Medcom, Inc., a New York-based firm founded by Richard Fuisz and his brother, that had large markets in the United States and Saudi Arabia. Baxter chief executive Vernon Loucks fired Fuisz who then brought anti-boycott charges against Baxter to the U.S. Commerce Department Office of Anti-Boycott Compliance (OAC). Fuisz alleged that Baxter had sold their profitable Ashdod facility to Teva Pharmaceutical Industries in 1988 while simultaneously negotiating the construction of a similar plant in Syria in partnership with the Syrian military in order to be removed from the Arab League blacklist in 1989. In 1993 Baxter pleaded guilty to a felony in relation to an anti-boycott law in the United States.
In July 15, 1985, American Hospital Supply Corporation CEO Karl D. Bays and Baxter's then-CEO Vernon R. Loucks Jr., signed an agreement that merged two of the United State's "largest producers of medical supplies." This was a "one-Baxter approach" in which the company provided "70% to 80% of what a hospital needed."
In 1991, Baxter's home infusion subsidiary, Caremark, "was accused by the government of paying doctors to steer patients to its intravenous drug service" In 1992 Caremark spun off from Baxter International. Caremark was fined $160 million for the "four-year-long federal mail-fraud and kickback" scheme in which the "home-infusion business unit made weekly payments to scores of doctors that averaged about $75 per patient for referring those patients to its services. Some doctors earned as much as $80,000 a year from the kickbacks, according to government documents."
In 1996, the company entered into a four-way, $640 million settlement with haemophiliacs 1999 in relation to blood clotting concentrates that were infected with HIV. Under pressure from shareholders due to poor performance and an unsuccessful merger, Loucks was forced to resign.
Baxter acquired medical device firm Baxa on November 10, 2011. In 2011, Hikma Pharmaceuticals PLC completed the acquisition of Baxter Healthcare Corporation's US generic injectables business (Multi-Source Injectables or MSI). In July 2013, EU antitrust regulators approved Baxter's bid for Sweden's Gambro.
In March 2014, Baxter announced plans to create two separate, independent global healthcare companies—one focused on developing and marketing
bio-pharmaceuticals and the...Read More
Published: Tuesday, 10 January 2017 22:00
Written by Administrator
Luxoft is an international custom software development company with more than 12,000 employees, 39 offices in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. It is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland, tax domiciled in London, and is listed on the New York Stock Exchange. Their customer list consists of over 170 clients, over 30 of which are high potential accounts (next UBS, Boeing, Harman etc.).
Luxoft was initially established in 1995 in Moscow as a development center of IBS, an IT holding company. In April 2000, the development center was incorporated as a separate entity under the direction of Dmitry Loschinin.
As of 26 June 2013, Luxoft is listed on the New York Stock Exchange, following an initial public offering of 4.1 million shares at $17 each. According to IBS President and main shareholder Anatoly Karachinsky, Luxoft was spun off in order to "unlock value for shareholders who aren’t interested in the Russian part of the group’s business".
After the pro-Russian unrest in Ukraine in 2014, Luxoft "relocated its senior management and about 100 engineers this year from Russia and Ukraine to Switzerland".The company had offices in three Ukrainian cities—Kiev, Odessa, and Dnipropetrovsk—and as of March 2014, 49% of its employees were based in Ukraine and 29% in Russia.
Luxoft's clients "consist primarily of large multinational corporations", such as Boeing, Ford Motor Co., and Deutsche Bank. For example, Luxoft created software that facilitates determining a customer's creditworthiness for Deutsche Bank. Other products have included "derivative trading systems for banks and computer-vision navigation that matches a moving image from a camera mounted in a car to locations on a map".
Luxoft has development centers in Romania (Bucharest), Vietnam (Ho Chi Minh City), Poland (Krakow, Wroclaw, Tricity), Bulgaria (Sofia), Russia (Moscow, St. Petersburg, Omsk) and Ukraine (Kiev, Odessa, Dnipropetrovsk). Representative offices of the company are also located worldwide in: United States (New York, NY; Seattle, WA), Europe (London, UK; Frankfurt, Germany) and Asia (Singapore).
Luxoft is actively pursuing M&A strategy having recently acquired local companies in USA, United Kingdom, Germany, Denmark (2014-2016).
NEW YORK--(BUSINESS WIRE)--Dec. 13, 2016-- Luxoft Holding, Inc. (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, today announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading technology insights, market intelligence and advisory services company.
Luxoft was among the leading providers in the Breakthrough Sourcing Market categories for the Americas, EMEA, and APAC regions based on annual contract value (ACV) won over the last 12 months, according to the 3Q 2016 Global ISG Outsourcing Index®. Now in its 56th consecutive quarter, the ISG Outsourcing Index® provides an independent quarterly review of the latest sourcing industry data and trends for enterprises, service providers, analysts and the media.
“We’re pleased to have earned our seventh consecutive listing on ISG’s Top 15 Sourcing lists,” said Luxoft President and CEO Dmitry Loschinin. “During this past quarter, we completed two strategic acquisitions allowing us to enter the healthcare and pharmaceutical market, to further our position in the telecom vertical, substantially expand our foot print in North America, and to expand our Human Machine Interface and digital cockpit practices in the automotive space. Our clients are increasingly engaged with our Centers of Expertise in digital transformation initiatives for big data/analytics, Internet of Things, and others.”
“For nearly 15 years, the ISG Index™ has been the...Read More