ICU Medical To Acquire Pfizer's Hospira In $1 Bln Deal - Quick Facts

(RTTNews) - ICU Medical Inc. (ICUI) and Pfizer Inc. (PFE) announced they have entered into a definitive agreement under which ICU Medical will acquire all of Pfizer's global infusion therapy business, Hospira Infusion Systems, for $1 billion in cash and stock. Pfizer will receive approximately $400 million in newly issued shares of ICU Medical common stock and $600 million in cash from ICU Medical subject to customary adjustment for net working capital. Upon completion of the deal, Pfizer will own approximately 16.6 percent of ICU Medical.

The Hospira Infusion Systems business includes IV pumps, solutions, and devices. The acquisition complements ICU Medical's existing business by creating a company that has a complete IV therapy product portfolio from solutions to pumps to non-dedicated infusion sets, and gives the company a significantly enhanced global footprint and a platform for continued competitiveness and growth.

For the third quarter of 2016, ICU Medical expects to report quarterly revenue of approximately $96 million and adjusted EBITDA of approximately $33.5 million, and $1.20 adjusted earnings per share.

For the fiscal year, ICU Medical expects to report results slightly above the high-end of its previously announced guidance of $370 million revenue, $131 million adjusted EBITDA, and $4.60 adjusted earnings per share.