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.