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 […]
Smiths Group plc
ICU Medical (NASDAQ:ICUI) is a step closer to acquiring Smiths Medical after clearing a shareholders vote at Smiths’ British parent company, the Smiths Group. Almost all of the nearly 327 million Smiths Group shareholders voting on November 17 approved the $2.35 billion buy. Get the full story on our sister site Medical Tubing + Extrusion.
Smiths Medical allegedly conspired with United Therapeutics to stifle a generic version of pulmonary arterial hypertension drug Remodulin, according to a lawsuit filed this week by Novartis (NYSE:NVS) unit Sandoz. The Smiths Group (LON:SMIN) subsidiary, which is slated for a spinout as a separately traded company next year, makes the infusion pumps and single-use cartridges for the PAH drug treprostinil, sold […]
Smiths Medical parent company Smiths Group (LON:SMIN) today announced plans to pursue a demerger with its Smiths Medical business, which will become separately listed in the UK. Smiths Group said it believes the demerger will strengthen both companies and allow the newly separated medical business to better capitalize on its leading positions, product launches and other value-creating […]
Smith Medical‘s parent company Smiths Group (LON:SMIN) is expected to disclose how it plans to separate its medical division from the rest of the organization on Friday, according to a report from the Minneapolis Star Tribune posted yesterday. The conglomerate has been seeking buyers for its medical division over the past few years, and has also […]
Smiths Group (LON:SMIN) may walk away from talks of a $9 billion merger of its healthcare division with ICU Medical (NSDQ:ICUI), Sky News reported this week. The two groups began talks more than two months ago, but Smiths is reportedly leaning towards a decision to abandon negotiations. Get the full story at our sister site, Drug Delivery Business News.
Smiths Medical parent company Smiths Group (LON:SMIN) saw shares fall more than 5% today after reporting a fall in underlying full-year revenue due to weaknesses in its medical device unit and energy equipment and service businesses. The fall made the company the worst performer on the London Stock Exchange’s FTSE 100 Index today. Smiths Medical was faced […]
Smiths Group (LON:SMIN) said today it divested its Wallace in-vitro fertilization product line to Cooper Cos. (NYSE:COO) CooperSurgical subsidiary for $174 million (UK £140 million). The divestiture is part of an ongoing program at Smiths to focus its portfolio on “market leading positions of scale in its chosen markets,” the company said. The company said that proceeds from […]
Germany’s Fresenius (NYSE:FMS) and Britain’s Smiths Group (LON:SMIN) have emerged as the final bidders for Pfizer‘s (NYSE:PFE) infusion pump business, inherited via the Big Pharma’s September 2015 purchase of Hospira for $15 billion. The winning bid is expected to be around $1.5 billion, according to Reuters. Private equity firm Pamplona Capital Management was also interested and reportedly made a […]
Smiths Group (LON:SMIN) posted better-than-expected 1st-half profits as growth at its Smiths Medical division made up for poor performance at its John Crane mechanical seals unit. Overall profits slid -8.5% for the 6 months ended Jan. 31 to $197.5 million (£140 million), or 46¢ per share (£0.325). Sales were down -3.1% to $19.84 billion (£1.37 billion) compared […]