ICU Medical, Inc. (NASDAQ: ICUI) and Smiths Group plc announced Wednesday that ICU Medical will acquire the Smiths Medical division in a transaction that is superior to the existing proposed sale of Smiths Medical to Trulli Bidco Limited. According to ICU Medical, the combined companies will be a leading infusion therapy company with estimated pro forma combined revenues of approximately $2.5 billion. ICUI stock jumped more than 30% after the announcement. <\/p>\n\n\n\n
\u201cDelivering on our commitment to maximize value, the ICU transaction provides both a higher value for Smiths\u2019 shareholders, as well as further value creation through our 10% holding of the enlarged combined group and a potential $100m additional contingent consideration. We are focused on concluding this superior transaction and on driving Smiths Group forward, delivering on our significant potential as a leading industrial technology group united by shared purpose, business characteristics and a common operating model.\u201d<\/p>Paul Keel, Chief Executive Officer of Smiths<\/cite><\/blockquote>\n\n\n\nUnder the terms of the agreement, Smiths will receive at closing 2.5 million newly issued shares of ICU Medical common stock, currently valued at approximately $500 million, and $1.85 billion in cash along with ICU Medical assuming certain liabilities. Smiths is also entitled to receive a contingent earn-out consideration of $100 million in cash, subject to stock price performance and other considerations. Upon completing the transaction, which the companies expect to occur in the first half of 2022, subject to customary closing conditions including required regulatory approvals, Smiths will own approximately 10 percent of ICU Medical.<\/p>\n\n\n\n
Worldwide Sales<\/h5>\n\n\n\n
ICU Medical, Inc., together with its subsidiaries, develops, manufactures, and sells medical devices used in infusion therapy and critical care applications worldwide.<\/p>\n","protected":false},"excerpt":{"rendered":"ICU Medical, Inc. (NASDAQ: ICUI) and Smiths Group plc announced Wednesday that ICU Medical will acquire the Smiths Medical division in a transaction that is superior to the existing proposed sale of Smiths Medical to Trulli Bidco Limited. According to ICU Medical, the combined companies will be a leading infusion therapy company with estimated pro… View Article<\/a>","protected":false},"author":3,"featured_media":16995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,17,8,11,16],"tags":[],"acf":[],"yoast_head":"\nICU Medical, Inc. 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