---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-21-267387"
form_type: "8-K"
ticker: "ICUI"
cik: "0000883984"
company_name: "ICU MEDICAL INC/DE"
filed_at: "2021-09-08T23:59:59+00:00"
generated_at: "2026-06-29T05:22:03.673894+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# ICU Medical to acquire Smiths Medical for $2.35B in cash and stock; expected close H1 2022

## Summary
- Total consideration: $1.85B cash, 2.5M ICUI shares (~$500M), plus up to $100M earn-out based on stock price.
- Combination creates ~$2.5B pro forma revenue infusion therapy company; Smiths to own ~10% of ICUI post-close.
- Smiths gains board seat if it holds ≥5% of ICUI; shares subject to 6-month lock-up and standstill restrictions.
- Transaction subject to antitrust, FDI approvals, and Smiths' French works council consultation; long-stop date undefined.
- $2B senior secured credit facilities committed by Wells Fargo and Barclays to fund cash portion.

## SEC filing metadata
- accession: 0001193125-21-267387
- form_type: 8-K
- ticker: ICUI
- cik: 0000883984
- company_name: ICU MEDICAL INC/DE
- filed_at: 2021-09-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/883984/000119312521267387/0001193125-21-267387-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/883984/000119312521267387/d228927d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-21-267387
- JSON: https://secwatch.observer/filing/0001193125-21-267387.json
- Plain text: https://secwatch.observer/filing/0001193125-21-267387.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.