UK's Smiths to spin off healthcare, focus on industrial technology [Reuters (UK)]
ICU Medical, Inc. (ICUI)
Last icu medical, inc. earnings: 2/27 04:05 pm
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Source: Reuters
UK's Smiths to spin off healthcare, focus on industrial technology | Reuters 3 Min Read (Reuters) - British engineer Smiths Group plans to spin off its healthcare business to focus on industrial technology, two months after a 7 billion pound ($9.1 billion) deal to merge it with U.S.-based ICU Medical collapsed. Smiths Medical, which has 8,050 employees, has been hit by delays in product launches, a loss of certifications under new regulations and losing two contracts in the United States. Investors welcomed the move, which Smiths Group said on Wednesday will allow it to focus on growing as an industrial technology firm, with its shares up 4.9 percent at 1,379 pence at 0855 GMT, topping London’s bluechip index. “Following our focus on operational improvements and increased investment, we believe it is now time to prepare the separation of Smiths Medical from the rest of the group,” Chief Executive Andy Reynolds said in a statement. Talks to merge Smiths Medical, which makes products in
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ICUI
Earnings
- 2/27/24 - Beat
ICUI
Sec Filings
- 4/2/24 - Form ARS
- 4/2/24 - Form DEFA14A
- 4/2/24 - Form DEF
- ICUI's page on the SEC website