Lehman Brothers Collection

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  1. Lehman Brothers: 1850 - 2008
  2. Data Resources
  3. Companies & Deals
  4. Baxter Laboratories, Inc.
  5. 125,000 shares common stock ($1 par value)

Deal Books:

125,000 shares common stock ($1 par value)

Deal Type

Common stock

Due Date

December 14, 1951

Book Date

December 14, 1951

Of the shares offered in this Baxter Laboratories, Inc., deal, 100,000 shares were sold to the underwriters by the selling stockholders. The group of selling stockholders consisted of Ralph Falk, Marian C. Falk, Carol Falk, Harry N. Falk, Elizabeth M. Falk, Antonie Falk Kelly, William B. Graham, Naurice M. Nesset, Thelma Nesset, Ralph Falk II, Carol Fullinwider, William A. Heveran, Rosalie Heveran, Lois K. Anderson, Bifin and Company, Daniel R. Borgen, Wayne D. Brandon, LeRoy Briggs, A. Lincoln Brown, Harold Brunn, Frances J. Burdick, Ethel C. Chapman, Joan G. Chapman, Horace Dawson, Harold Dedman, Ann D. Ensign, Isabella Ensign, Eben W. Erikson, Lloyd B. Erikson, Marie B. Erikson, Marilyn M. Erikson, David R. Falk, Henry L. Falk, John P. Falk, Lena S. Falk, Robert H. Falk, Theodore Falk, Corallyn Gewecke, Theodore H. Gewecke, A. Curtis Jones, Jr., Winfield G. Jones, Emma Kleiner, Eugene M. Kleiner, J. M. Kleiner, Walter H. Kleiner, Foster G. McGraw, Edward J. Nawoj, Margaret M. Rau, Joseph E. Rau, Josephine Rothchild, Barbara E. Smith, and Kathryn Stanley. The remaining 25,000 shares were offered by Baxter Laboratories, Inc. The company received no part of the proceeds from the shares sold by the selling stockholders. The net proceeds from the company's sale of shares were applied to general corporate purposes.

List of Companies

  • Baxter Laboratories, Inc.

    Industry

    Health Care Products

    Description

    In 1931 Dr. Ralph Falk, Harry Falk, and Dr. Donald Baxter founded Don Baxter Intravenous Products Company to distribute IV solutions to midwestern hospitals. The company was established to manufacture large, closely controlled supplies of solutions, as at the time only large research centers and university hospitals were able to produce such solutions. In 1933 the company opened a manufacturing facility in Glenview, Illinois. Ralph Falk purchased Baxter's interest in the company in 1935 and began a research and development program. In 1939 the company created Transfuso-Vac, a sterile vacuum-type blood collection and storage unit, which stored blood for weeks rather than hours. The company produced Plasma-Vac in 1941, which separated plasma from whole blood and stored the plasma for later use. Both products were in high demand during World War II, and the company provided them to the U.S. armed forces. Sales by 1945 were over $1.5 million. In 1948 Baxter expanded its product line to include Fenwal Laboratories' new unbreakable plastic container for blood storage. Baxter created Travenol Laboratories, a pharmaceutical specialties division, in 1949. Travenol was responsible for developing and marketing chemical compounds and medical equipment. The company continued to grow during the 1950s, making key acquisitions. Dr. William B. Graham was named president and chief executive officer of the company in 1953. Graham was responsible for the company's decision to support the research of Dr. Willem Kolff, who was investigating dialysis procedures and kidney failure. In 1956 Baxter introduced the first commercially built kidney dialysis system, representing the company's first move into a field in which it would become known as an innovator. The company went public with a listing on the New York Stock Exchange in 1961. By 1962 the business and operations of Baxter were carried out by four operating divisions: Baxter/Travenol Laboratories, Wallerstein Company, Hyland Laboratories, and Flint, Eaton & Company.
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