ICU Medical (San Clemente, CA) may sell itself in the near future. Those familiar with the company believe the sale could reach a price tag north of $1 billion.
As of now, ICU Medical has joined forces with JPMorgan Chase (JPMC). JPMC will act as a broker for the sale. However, neither JPMC or ICU Medical have commented on the potential sale.
ICU Medical manufactures medical devices used in critical care, oncology and infusion therapy. One of the company’s best-known products is the Clave. The Clave is a specialized connector. The Clave creates a sterile, needle-free connection between an IV port and a saline or nutrition bag.
For the 2012 fiscal year, the company pulled in revenues of $316.3 million. This represents an increase over the previous year of 4.9 percent. This boost was helped out by a 24.2 percent sales increase for its oncology products. In addition, the company infusion revenue grew by 8.3 percent for the fiscal 2012 year.