Baxter eyes big business opportunities in China

Baxter International Inc reported close to double-digit growth in core business revenue over the past few years, given the vast opportunities in the country's healthcare market, according to its president of the Asia-Pacific region.

Andrew Frye, president of APAC at Baxter and senior vice-president of the company, said China is an "exciting" market.

"In terms of sales, China is the second-largest market for Baxter worldwide. It offers us big business opportunities. China's acceleration has been dramatic."

Last year, China contributed a decent portion of the company's global revenue. The country was second only to Baxter's home market of the United States, which contributed around 40 percent.

The US-headquartered company said it recognizes the Chinese government's commitment to expand healthcare to all Chinese people, both rural and urban, as well as its commitment to drive innovation in manufacturing and product development.

"We move with the government initiatives, like the Healthy China 2030 strategy, as well as the increasingly higher-quality standards of products sold in China," Frye said.

For rural areas in China where there is limited medical access, the company launched a program called "Study on the Accessibility of Peritoneal Dialysis Treatment to Patients with End-Stage Renal Disease and the Grass-Root Management Mode" in 2012, offering home therapy for end-stage renal disease patients.

Joining hands with the National Institute of Hospital Administration under the National Health Commission, Baxter's dialysis products are delivered directly to patients' homes in Liaoning, Jiangsu, Zhejiang, Henan, Hubei and Hunan provinces. The initial investment behind the project totaled $5 million.

This kind of home dialysis therapy improves patients' quality of life, as they do not need to go to the hospital three times a week for dialysis.

"Many people really appreciate that, especially students and elderly people. We also educate doctors to help them teach patients to do the therapy at home.

"Baxter's mission is to save and sustain lives. We help them to maintain not just their physical health, but their psychological health, so that they can still see friends, and don't have to undergo blood purification at the hospital," Frye said.

Fu Qiang, deputy director of the National Institute of Hospital Administration, said, "The program offers a great example of dialysis management. It increases patients' quality of healthcare and life. It also improves the accessibility of medical care in rural areas."

In 2017, the company's sales revenue stood at $10.6 billion, growing 4 percent year-on-year.

On Sept 14, Baxter received the Aon Best Employer award in both China and the Asia Pacific region. The program was designed to improve employee engagement, leadership effectiveness, and employer branding and culture to drive high performance.