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ICU Medical, Inc. to Acquire Hospira's Critical Care Product Line
Date:7/9/2009

SAN CLEMENTE, Calif., and LAKE FOREST, Ill., July 9 /PRNewswire-FirstCall/ -- ICU Medical, Inc., (Nasdaq: ICUI), a leading low-cost manufacturer of safe medical connectors, custom medical products and critical care devices, announced today that it has entered into a definitive purchase agreement to acquire the commercial rights and physical assets of Hospira, Inc.'s (NYSE: HSP) critical care product line for approximately $35 million in cash. The acquisition is expected to close during the third quarter of 2009.

"This acquisition creates a long-term growth opportunity for ICU Medical and positions us to improve gross margins and earnings by controlling all aspects of the critical care product line," said Dr. George Lopez, chairman and president, ICU Medical. "We have been manufacturing the majority of Hospira's critical care offerings for over four years and Hospira continues to be a very important partner for our company. Hospira's recent internal initiatives have created a good opportunity for us to acquire this business. This transaction will enable us to completely control worldwide commercial responsibility for the critical care products including sales, marketing, customer contracting and distribution."

"This agreement advances Hospira's Project Fuel optimization efforts to simplify our product line," said Christopher B. Begley, chairman and chief executive officer, Hospira. "It will enable an even greater focus on Hospira's core strategic areas of specialty injectable pharmaceuticals (SIP) and medication management systems (MMS), driving innovation and growth in these key businesses. The strong partnership between Hospira and ICU Medical, combined with ICU Medical's strength in the critical care market, will also make this transiti
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SOURCE Hospira, Inc.; ICU Medical, Inc.
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