Business
ICU Medical Completes the Acquisition of Smiths Medical from Smiths Group plc
The addition of Smiths Medical syringe and ambulatory infusion devices, vascular access, and vital care products to the ICU Medical portfolio creates a
About this update from Icu Medical, Inc.
[{"type":"text","content":"The addition of Smiths Medical syringe and ambulatory infusion devices, vascular access, and vital care products to the ICU Medical portfolio creates a leading infusion therapy company with a more robust global reach.\n\n\nSAN CLEMENTE, Calif., Jan. 6, 2022 /PRNewswire/ -- ICU Medical Inc. (NASDAQ: ICUI) announced that it has completed its acquisition of Smiths Medical from Smiths Group plc (LSE: SMIN.L). The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. When combined with ICU Medical's existing businesses, the combined companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately $2.5 billion.\n\"We are pleased that Smiths Medical is now part of ICU Medical, and we welcome our new Smiths colleagues to the ICU team. We look forward to working together to continue providing quality, innovation, and value to our clinical customers worldwide,\" said Vivek Jain, chairman, and chief executive officer at ICU Medical. \"The addition of Smiths Medical fits well with ICU Medical's existing business and creates a scaled US-based global competitor that increases the stability of the medical supply chain and can grow as clinical care models evolve.\"\nThe acquisition leverages significant investment into integration and infrastructure developed to support the Hospira Infusion Systems acquisition in 2017. It will allow ICU Medical to build on a corporate culture that creates value through accountability, acting with transparency, making quick and informed decisions, and staying focused on meeting customer needs.\nThe company plans to announce complete FY 2022 guidance on its Q4 earnings call in late February.\nInvestor Contact:Brian Bonnell, ICU Medical, [email protected]\nMedia Contact:Tom McCall, ICU Medical, [email protected]\nCautionary Statements Regarding Forward-Looking Information\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as ''will,'' ''expect,'' ''believe,'' ''could,'' ''would,'' ''estimate,'' ''continue,'' ''build,'' ''expand'' or the negative thereof or comparable terminology, and...