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ICU Medical completes $2.35B purchase of Smiths Medical

January 10, 2022 By Chris Newmarker

ICU Medical (NASDAQ:ICUI) recently announced that it has completed its $2.35 billion acquisition of Smiths Medical from the Smiths Group.

Smiths Medical’s business includes syringe and ambulatory infusion devices, vascular access, and vital care products. The merger creates an infusion therapy company with estimated annual revenues of roughly $2.5 billion, ICU Medical said in a January 6 news release.

“The addition of Smiths Medical fits well with ICU Medical’s existing business and creates a scaled U.S.-based global competitor that increases the stability of the medical supply chain and can grow as clinical care models evolve,” said ICU Medical Vivek Jain.

ICU Medical made a previous $4 billion bid for Smiths Medical, with the Smiths Group announcing in late 2018 that it was spiking merger talks.

About Chris Newmarker

Chris Newmarker is the executive editor of WTWH Media life science's news websites and publications including MassDevice, Medical Design & Outsourcing and more. A professional journalist of 18 years, he is a veteran of UBM (now Informa) and The Associated Press whose career has taken him from Ohio to Virginia, New Jersey and, most recently, Minnesota. He’s covered a wide variety of subjects, but his focus over the past decade has been business and technology. He holds bachelor’s degrees in journalism and political science from Ohio State University. Connect with him on LinkedIn or email at cnewmarker@wtwhmedia.com.