EXHIBIT 21
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SUBSIDIARIES OF THE COMPANY, AS OF MARCH 14, 1997
% OWNED BY
ORGANIZED UNDER IMMEDIATE
SUBSIDIARY LAWS OF PARENT (1)(2)
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Baxter International Inc. Delaware
Perfusion Services of Baxter Healthcare Corporation Delaware 100
Baxter CVG Sub Inc Delaware 100
Baxter Healthcare Corporation Delaware 100
Nextran, Inc. Delaware 100
Medication Delivery Devices Inc California 100
Baxter World Trade Corporation Delaware 100
Baxter Foreign Sales Corporation Barbados 100
Baxter Export Corporation Nevada 100
Baxter Argentina SA Argentina 100
Industrial y Comercial Baxter de Chile Ltda Chile 99 (4)
Baxter Representacoes Ltda Brazil 100
Baxter Hospitalar Ltda Brazil 85.21 (4)
Baxter SA Belgium 98.44 (4)
Baxter SA France 64.57 (4)
Baxter Deutschland GmbH Germany 100
Baxter SpA Italy 98.74 (4)
Baxter B.V. (Uden) Netherlands 50.83 (4)
Baxter SA Spain 99.99 (4)
Baxter A/S Denmark 100
Baxter Pharmacy Services Corporation Delaware 100 (5)
Baxter Sales and Distribution Corp Delaware 100
Baxter Healthcare Corporation of Puerto Rico Alaska 100
Baxter Healthcare (Holdings) Ltd United Kingdom 99.99 (4)
Baxter Healthcare Limited United Kingdom 99.99 (4)
Baxter Limited Malta 50 (3)
Baxter Healthcare S.A. Panama 100
Baxter Healthcare Pte Ltd Singapore 100
Baxter World Trade Belgium 51.74 (4)
Baxter Limited Japan 100
Baxter Healthcare Pty Ltd Australia 99.99 (4)
Baxter Healthcare Limited New Zealand 100
Baxter Edwards A.G. Switzerland 99.6 (4)
Baxter A.G. Switzerland 99.9 (4)
Baxter A/O Russia 100
Xenomedica A.G. Switzerland 99.94 (4)
Baxter S.A. de C.V. Mexico 99.9 (4)
Laboratorios Baxter SA (Colombia) Delaware 100
Baxter Corporation Canada 100
Baxter Biotech Worldwide Ltd Delaware 100
Baxter Biotech Holding AG Switzerland 100
Immuno International AG Switzerland 100
Immuno - US, Inc. Michigan 100
Immuno AG Austria 99.99(4)
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Subsidiaries omitted from this list, considered in aggregate as a single
subsidiary, would not constitute a significant subsidiary.
* * * * *
(1) Including director's qualifying and other nominee shares.
(2) All subsidiaries set forth herein are reported in the Company's financial
statements through consolidations or under the equity method of accounting.
(3) 50% owned by Baxter World Trade Corporation and 50% owned by Baxter SA
(France).
(4) Remaining shares owned by the Company, its subsidiaries or employees.
(5) Of common stock.