Baxter International was founded in 1931 by Davis 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, now named Baxter Laboratories, introduced the Transfuso-Vac container, the first sterile, vacuum-type blood collection and storage unit. Before this breakthrough product, blood could be stored for only a few hours; the new container allowed storage for up to 21 days, making blood banking practical for the first time.
In 1954, a young patent lawyer named William B. Graham (whose printed signature appears on this piece)
joined the company as vice president and manager, and in 1953, succeeded founder Ralph Falk as chief executive officer (CEO). Baxter established one of the most outstanding growth records in American industry during Mr. Graham's tenure as CEO. In 1945, sales exceed $1.5 million.
Seeking a medical company that would help develop his kidney dialysis machine (essentially made up of orange juice cans and a washing machine), Dr. Willem Kolff found an ally in Mr. Graham, who was intrigued by the product and saw its possibilities. By 1956, Baxter medical engineers had improved the original construction and Baxter introduced the first commercially built artificial kidney, making life-saving dialysis possible for people with end-stage renal disease.
In 1993 the company pled guilty to a felony in relation to an anti-boycott law in the United States and in 1996, the company entered into a four-way, $640 million settlement with hemophiliacs in relation to blood clotting concentrates that were infected with HIV.
Close Up of Vignette:
Common Stock, issued in the 1970’sPrinter: Federated Bank Note Company Dimensions:
8” (h) x 12” (w)State: DE-Delaware Subject Matter: Medical and Related Vignette Topic(s): Female Subject
| Astronomy Featured Condition:
Vertical fold lines, punch hole and pen cancels in the signature areas and body and some toning from age.