ICU Medical Completes the Acquisition of Hospira Infusion Systems from Pfizer
February 06 2017 - 7:45AM
ICU Medical Inc. (NASDAQ:ICUI) today announced that it has
completed its acquisition of the Hospira Infusion Systems business
from Pfizer Inc. (NYSE:PFE). The Hospira Infusion Systems business
includes IV pumps, solutions, and devices that, when combined with
the company’s existing businesses, makes ICU Medical one of the
world’s leading pure-play infusion therapy companies.
“We are pleased that Hospira Infusion Systems is
now part of ICU Medical and welcome our new Hospira colleagues to
the ICU team. We look forward to working together to continue
providing quality, innovation and value to our clinical customers
worldwide,” said Vivek Jain, chairman and chief executive officer
at ICU Medical.
The Hospira Infusion Systems acquisition
complements ICU Medical’s existing business to create a company
with a complete IV therapy product portfolio from solutions to
pumps to non-dedicated infusion sets. In addition, the acquisition
gives ICU Medical a significantly enhanced global footprint and
platform for continued competitiveness and long-term growth. With
an integrated product offering, the company now holds
industry-leading positions in key segments and has access to the
full US infusion marketplace with a compelling product
portfolio.
The company plans to announce full FY 2017
guidance on its Q4 Earnings call in late February.
Forward Looking StatementsThis
press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such statements contain words such as ''will,'' ''expect,''
''believe,'' ''could,'' ''would,'' ''estimate,'' ''continue,''
''build,'' ''expand'' or the negative thereof or comparable
terminology, and may include (without limitation) information
regarding the Company's expectations, goals or intentions regarding
the future, including our full year 2016 guidance and our
acquisition of the Hospira infusion systems business. These
forward-looking statements are based on management's current
expectations, estimates, forecasts and projections about the
Company and assumptions management believes are reasonable, all of
which are subject to risks and uncertainties that could cause
actual results and events to differ materially from those stated in
the forward-looking statements. These risks and uncertainties
include, but are not limited to, decreased demand for the Company's
products, decreased free cash flow, the inability to recapture
conversion delays or part/resource shortages on anticipated timing,
or at all, changes in product mix, increased competition from
competitors, lack of continued growth or improving efficiencies,
unexpected changes in the Company's arrangements with its largest
customers and the Company's ability to meet expectations regarding
the timing, completion and integration of the Hospira infusion
systems business. Future results are subject to risks and
uncertainties, including the risk factors, and other risks and
uncertainties, described in the Company's filings with the
Securities and Exchange Commission, which include those in the
Annual Report on Form 10-K for the year ended December 31, 2015 and
our subsequent filings. Forward-looking statements contained in
this press release are made only as of the date hereof, and the
Company undertakes no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
ICU Medical Investor Contacts:
Scott Lamb, ICU Medical, Inc.
949-366-2183
slamb@icumed.com
John Mills, ICR, Inc
646-277-1254
John.Mills@icrinc.com
Media Contact:
Tom McCall, ICU Medical, Inc.
949-366-4368
tmccall@icumed.com
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