Vantive, a kidney care company that is an offshoot of Baxter International, will invest $23M in its new U.S. headquarters in suburban Deerfield.

The company will make its new home at 510 Lake Cook Road with the support of state incentives, Gov. J.B. Pritzker announced in a press release Friday. The headquarters will enable the company to expand their office facilities and pharmacy operations, creating at least 50 new full-time jobs, according to the release.

“Illinois offers a strong healthcare ecosystem, a highly skilled workforce, and a supportive business environment — all of which provide an ideal foundation for Vantive's next phase of success,” Vantive CEO Chris Toth said in the release.

Vantive was sold to the Carlyle Group for $3.8B in late January, launching as a new standalone vital organ therapy company. The company offers products and services designed to support both home and clinic-based dialysis as well as critical care therapies for the kidney and other vital organs in intensive care units.

Its new headquarters was formerly home to construction equipment giant Caterpillar before it left for Texas in 2022.

As part of the state's incentive package, Vantive received an Economic Development for a Growing Economy tax credit, with the commitment to investment and job creation while retaining their current workforce of more than 200 employees.

“As a leader in healthcare innovation, Vantive's commitment to Illinois will spur more interest and investment — and establish our state as the leader in the vital organ therapy sector,” Pritzker said in the release.

Illinois has begun making significant inroads with the business community as of late.

The state brought in $12.5B in investments in the fiscal year that ended June 30, up 85.6% over the year prior, according to analysis from Intersect Illinois. The state’s public-private partnership for economic development also said 440 projects expanded or located in Illinois in the fiscal year, up 15.2% over last year.

“The way in which the governor has talked about doing business and being open for business has changed coming out of the pandemic," Intersect Illinois CEO Christy George told Bisnow late last year. "The last three years, the governor spent a lot of time focusing on ensuring the fiscal stability of the state [and] changing our reputation.”