Smiths Group Divests Its Medical Division To ICU Medical In $2.4B Deal

  • ICU Medical Inc ICUI has agreed to acquire Smiths Group plc's Medical division in a transaction that will create an IV therapy company and simplify customer workflow. 
  • The Smiths Medical business includes syringe & ambulatory infusion devices, vascular access, and vital care products. 
  • When combined with ICU Medical's existing businesses, the combined entity will generate estimated pro forma revenues of approximately $2.5 billion.
  • Smiths will receive 2.5 million newly issued ICU Medical shares, currently valued at approximately $500 million, and $1.85 billion in cash.
  • Smiths will own approximately 10% of ICU Medical. It is also eligible to receive a contingent earn-out consideration of $100 million in cash.
  • The transaction is expected to close in 1H of 2022. In addition, at closing, a Smiths designee will be appointed to the ICU Medical board of directors.
  • Price Action: ICUI stock closed 1.58% higher at $205.98 on Tuesday.

Posted In: BriefsDivestituresM&ANewsHealth CareGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.