ICU Medical completes acquisition of Smiths Medical for $1.85B cash + stock

ICU MEDICAL INC/DE

Paid $1.85B cash and issued 2.5M shares of ICUI common stock; up to $100M additional contingent cash.
Entered into $2.2B Credit Facilities: $850M Term Loan A, $850M Term Loan B, $500M revolver.
Pro forma combined revenue approximately $2.5 billion; Smiths adds infusion, vascular, vital care products.
Seller (Smiths Group) gets board seat if owns >5% of ICUI; share transfer restricted for 6 months.
Company plans to provide full FY 2022 guidance on Q4 earnings call in late February.

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