ICU Medical says it intends to pay $35 million in cash to buy drugs and delivery-device product lines made by Hospira, which had been ICU’s main customer. ICU said its sales to Hospira, formerly owned by Abbott Laboratories, was responsible for 71 percent of ICU’s sales last year. ICU specializes in needleless connectors and other IV delivery devices. ICU’s founder, chairman and president, George Lopez, said his company is changing from a one-product company into one offering more devices, and is moving into other treatment areas. (Click here for more)
“ICU Medical Spending $35 Million For Hospira Product Line” – Orange County Business Journal (7/9/09)
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