One year after acquiring HillRom for $10.5 billion, Baxter International (BAX), a healthcare products maker, is acknowledging it overpaid. In its latest quarterly filing, Baxter revealed it’s taking a $2.8 billion goodwill impairment charge related to Hillrom.

The charge is the equivalent of 41.2% of the goodwill recorded in connection with the Hillrom acquisition and breaks down as follows:

—$1.4 billion goodwill impairment for the Patient Support Systems reporting unit
—$1.0 billion goodwill impairment for the Front Line Care reporting unit
—$0.4 billion goodwill impairment for the Surgical Solutions unit

In addition, Baxter recognized pre-tax impairment charges of $332 million to reduce the carrying amounts of certain indefinite-lived intangible assets related to trade names acquired in the Hillrom acquisition.

In all, the goodwill and intangible asset impairments are the equivalent of 29.5% of the acquisition price.