By: Brett Chase

April 27, 2005, Crain's Chicago Business

Harry M. Jansen Kraemer, who stepped down as CEO of Baxter International Inc. in early 2004, has joined private equity firm Madison Dearborn Partners LLC. Mr. Kraemer was named executive partner today to work with the buyout firm’s health care group. Mr. Kraemer spent more than two decades at medical products maker Baxter, including five as CEO. He quit after a string of earnings disappointments.

Mr. Kraemer, a director of Science Application International Corp. and a member of several academic panels, is an adjunct professor of management and strategy at Kellogg School of Management at Northwestern University.

Mr. Kraemer says he will continue teaching two days a week. His role at Madison Dearborn is still being defined but it may involve evaluating potential acquisition targets or serving on boards of companies taken over, he said.

"I'll do whatever I can do given my almost 23-year experience at Baxter," Mr. Kraemer said in an interview.

Last year, former Tribune Co. CEO John Madigan joined Madison Dearborn as a "special partner" helping the firm find potential acquisitions.

Dialysis Centers of America Inc., nursing home operator Genesis Health Ventures and physician staffing company Team Health Holdings LLC are among companies in which Madison Dearborn has invested.