• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

Smiths Medical spikes merger talks with ICU Medical

September 14, 2018 By Brad Perriello

Smiths Medical, ICU Medical

Smiths Group (LON:SMIN) said yesterday that it’s spiking merger talks with ICU Medical (NSDQ:ICUI) after rejecting a nearly $4 billion offer earlier this month.

The British company and San Clemente, Calif.-based ICU revealed negotiations in May about a possible union with Smiths Medical. Smiths, said to be eyeing the exit door last month, reportedly rejected a cash-and-stock offer worth $3.67 billion (£2.8 billion) in early September.

Yesterday Smiths said it ended the discussions “because the parties have been unable to agree the terms of a combination.”

“We have ended discussions with ICU today after careful consideration and in the interests of our shareholders. Smiths Medical will continue to capitalize on the increased investment that it is making in new product development. We remain confident that our strategy for Smiths Medical will drive market outperformance and world-class competitiveness. Alongside continued active portfolio management across all our businesses, this will deliver long-term sustainable growth and attractive returns for our shareholders,” CEO Andy Reynolds Smith said in prepared remarks.

The news sent ICUI shares to a $282.85 close yesterday, off -6.4%, but the stock rebounded somewhat today, rising 1.2% to $286.23 per share in early trading.

In London, SMIN shares yesterday closed down a hair at £15.645 and was trading up a half-percent at £15.725 in mid-afternoon action today.

$1 = £0.763554

Filed Under: Featured, Hospital Care, Mergers & Acquisitions, Wall Street Beat Tagged With: ICU Medical, Smiths Medical

IN CASE YOU MISSED IT

  • Medtronic unveils “MiniMed” as name for soon-to-be separated Diabetes unit
  • Insulet, Marvel collab to unveil comic book hero with type 1 diabetes
  • Insulet rolls out new Omnipod 5 iPhone app for use with Dexcom G7
  • Tandem, Abbott strike deal to pair insulin pumps with glucose-ketone monitor
  • Mosanna launches with $80M to support nasal spray for obstructive sleep apnea

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS