0.9 C
Munich
Tuesday, January 31, 2023

Here’s Why ICU Medical (NASDAQ: ICUI) Stock is Surging Today

Shares of ICU Medical, Inc. (NASDAQ: ICUI) skyrocketed 32.58% at the time of writing on Wednesday. The strong performance of the firm indicated the positive sentiments of the investors after the firm has disclosed that it has decided to purchase the Smiths Medical division in a deal that is superior to the current recommended sale of Smiths Medical to Trulli Bidco Limited.

This acquisition of the Smiths Medical division is a good choice and is the best fit with ICU Medical’s current business. By combining two harmonizing product portfolios to make an important IV therapy firm. The firm is also expecting to streamline customer workflows and add substantial value and choice.

ICU Medical, Inc. (NASDAQ: ICUI) skyrocketed shares were trading up 32.58% as the firm has gained +67.12 at the time of writing on Friday. ICU Medical, Inc. (NASDAQ: ICUI) share price went from a low point around $176.18 to briefly over $227.07 in the past 52 weeks, though shares have since pulled back to $263.47. ICUI market cap has remained high, hitting $4.39 billion at the time of writing.

Transaction Details

As per the terms of the agreement, Smiths will get 2.5 million at closing newly issued shares of ICU Medical common stock, currently worth nearly $500 million, and $1.85 billion in cash along with ICU Medical assuming certain liabilities. Smiths is also entitled to a contingent earn-out payment of $100 million in cash.

Furthermore, after the execution of the deal, which the firm anticipates occurring in the first half of 2022. It is dependent on certain customary closing conditions including required regulatory approvals. Smiths will own roughly 10 percent of ICU Medical.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.