RTTNews | Sep 8, 2021 11:05AM EDT

11:04 Wednesday, September 8, 2021 (RTTNews.com) - Shares of ICU Medical, Inc. (ICUI) are jumping over 30% on Wednesday morning after the company announced a deal to buy UK-based Smiths Group plc's medical division for $2.35 billion.

ICUI is currently trading at $268.70, up $62.72 or 30.45%, on the Nasdaq. The stock has traded between $176.19 and $272.05 in the 52-week period.

ICU Medical said it has committed to acquire the Smiths Medical division in a transaction that is superior to the existing proposed sale of Smiths Medical to Trulli Bidco Limited. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products.

ICU Medical says that the combined business of Smiths Medical division and ICU Medical's existing businesses will generate about $2.5 billion in revenues.

Read the original article on RTTNews ( https://www.rttnews.com/3224130/icu-medical-jumps-30-on-deal-to-buy-smiths-group-medical-division.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved