Key Developments For ICU Medical Inc
ICU Medical Inc (ICUI.O) (Nasdaq)
ICU Medical, Inc. Signs Two New Contracts For Critical Care Products
ICU Medical, Inc. announced that it has entered into contracts for Invasive Hemodynamic monitoring products with MedAssets Supply Chain Systems. MedAssets Supply Chain Systems is one of the purchasing organizations (GPO), providing solutions for healthcare providers to improve their margins and cash flow. These contracts offer MedAssets' customers ICU Medical's line of Disposable Transducers, Thermodilution Catheters and In-Line Blood Sampling devices which provide better patient outcomes and cost reduction as well as cost avoidance.
ICU Medical, Inc. Increases Share Repurchase Authorization To $55 Million
ICU Medical, Inc. announced that its Board of Directors has amended its previously announced stock repurchase program to permit share repurchases up to an aggregate of $55.0 million. The Company's stock repurchase program was originally adopted on July 18, 2008 and permitted repurchases up to $40.0 million. Under current Board of Directors authorizations and taking into account previous purchases of $6.5 million of shares under the existing authorization, the Company has the ability, and currently intends to repurchase up to approximately $43.5 million of its common stock in the open market. Such repurchases will be made in accordance with applicable securities laws and other requirements, and will depend on the stock price, prevailing market and business conditions and other considerations.
ICU Medical, Inc. Narrows FY 2009 Revenue Guidance To A Range In Line With Analysts' Estimates; Raises FY 2009 EPS Guidance
ICU Medical, Inc. narrowed fiscal 2009 revenue guidance to a range of $223 to $228 million and increased diluted earnings per share (EPS) to a range of $1.74 - $1.79, compared to the previous range of $1.62 - $1.71. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $1.68 on revenue of $228 million for the same period.
ICU Medical, Inc. Reaffirms FY 2009 Guidance-Conference Call
ICU Medical, Inc. announced that for fiscal 2009, it expects revenue to be in the range of $220 million to $230 million and earnings in the range of $1.62 to $1.71 per share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $229 million and earnings of $1.69 per share for fiscal 2009.
ICU Medical, Inc. Closes Purchase of Hospira's Critical Care Product Line
ICU Medical, Inc. announced that it has closed on the previously announced purchase of the commercial rights and physical assets of Hospira, Inc.'s critical care product line for approximately $35 million in cash. As a result of the completion of this purchase, ICU Medical has gained complete control of Hospira's critical care product line and acquired the commercial rights to the products. To help facilitate the transition process, the two companies have entered transition services agreements for up to 18 months.
