Pros
Medical device industry is very interesting and rewarding. You are truly involved with development of products and systems that make a difference/save lives. There will always be a need for talented, qualified people in the industry. Decent job security in a tough economy (though layoffs are frequent there, too). Great people to work with: top notch in their areas, very experienced, and most keep the customer in the forefront at all times.
Cons
Baxter has had numerous missteps in the past 5-8 years (FDA consent decree, products on recall, etc.). The overall brand equity of Baxter has suffered. Poor leadership + top tier management over the years. Extremely lengthy product development cycles making it difficult to launch new products.