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ICU Medical draws interest from CareFusion as bids loom -sources
June 7, 2013 / 5:56 PM / 4 years ago

ICU Medical draws interest from CareFusion as bids loom -sources

NEW YORK, June 7 (Reuters) - ICU Medical Inc, which is exploring a sale of the medical device company, has attracted takeover interest from larger rival CareFusion Corp, according to several people familiar with the matter.

San Clemente, California-based ICU, which makes infusion therapy devices and has a market value of nearly $1 billion, is seeking second-round bids next week, the people said, asking not to be named because the matter is not public.

In addition to CareFusion, at least one major private equity firm has also been carrying out due diligence and is weighing an offer, one of the people said.

Hospira Inc, the Lake Forest, Illinois-based maker of injectable drugs and infusion equipment, expressed interest in ICU Medical earlier in the auction process, according to some of the people familiar with the matter. It could not be learned on Friday if Hospira was still bidding.

Representatives for ICU, CareFusion and Hospira declined to comment.

San Diego, California-based CareFusion, whose shares have rallied this year to a market value of more than $8 billion, has been actively looking at potential acquisitions this year.

The company, which makes infusion pumps and other medical devices, recently approached British engineering conglomerate Smiths Group about buying its medical division, people familiar with the matter told Reuters previously.

Smiths Medical, which supplies equipment to hospitals and emergency services, is seen worth more than $3 billion.

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