ICU Medical, Inc. (NASDAQ:ICUI) Q3 2021 Earnings Conference Call November 3, 2021 4:30 AM ET Company Participants John Mills – Managing Partner Vivek Jain – Chairman and Chief Executive Officer Brian Bonnell – Chief Financial Officer Conference Call Participants Larry Solow – CJS Securities Matthew Mishan – Keybank Jayson Bedford – Raymond James Operator Good day, and welcome to the ICU Medical Incorporated Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode ...

Summary of ICU Medical, Inc. Conference Call on Acquisition of Smiths Medical Division Company and Industry - **Company**: ICU Medical, Inc. (NASDAQ: ICUI) - **Acquisition Target**: Smiths Medical division from Smiths Group plc - **Industry**: Medical Devices, specifically focusing on infusion therapy and related products Core Points and Arguments 1. **Strategic Rationale for Acquisition**: - The acquisition will create a combined company with approximately $2.5 billion in revenue, enhancing focus and scale in infusion therapy [6][19] - It aims to diversify and strengthen the U.S. medical supply chain [6][19] 2. **Transaction Overview**: - ICU Medical will pay $1.85 billion in cash and issue 2.5 million shares, totaling an upfront value of $2.35 billion [7][12] - An additional $100 million in contingent considerations is tied to equity returns [7][12] - The transaction is expected to close in the first half of 2022, pending customary conditions [7][12] 3. **Financial Implications**: - A $2 billion senior credit facility has been secured to finance the acquisition [12][13] - Pro forma net leverage is expected to be approximately 3.1x at closing, with a goal to deleverage to 1.5 to 2x within three years [13][14] - Expected adjusted EBITDA run rate for Smiths Medical before synergies is around $190 million [15][16] 4. **Earnings Accretion**: - Adjusted diluted earnings per share (EPS) is projected to be nearly $11 in the first year post-acquisition, representing over 40% accretion compared to a standalone scenario [16][19] - Anticipated cost synergies of at least $50 million to be fully realized by the end of the third year [16][17] 5. **Market Position and Growth Drivers**: - The acquisition fills gaps in ICU Medical's product offerings, particularly in syringe and ambulatory pumps, enhancing competitiveness against larger players [9][10] - The combined company will focus on high-value clinical niches, such as oncology and pediatric care [22][23] 6. **Integration Strategy**: - The integration is expected to be smoother than previous acquisitions due to existing infrastructure and fewer transitional service agreements [25][26] - The management team has significant experience in integrating similar businesses, which is expected to facilitate a successful merger [26][27] Other Important Content 1. **Geographical Expansion**: - The acquisition will enhance ICU Medical's presence in international markets, particularly in Europe and Latin America [34][35] 2. **Cash Flow Expectations**: - ICU Medical expects strong free cash flow generation post-acquisition, with a commitment to maintain at least $250 million in cash on hand [14][19] 3. **Future Outlook**: - The management anticipates that the acquisition will create significant value for shareholders and customers, with a focus on operational improvements and cash flow generation [28][29] 4. **Market Dynamics**: - The competitive landscape has evolved, and the acquisition is seen as a strategic move to adapt to these changes and enhance market positioning [21][22] 5. **Potential for Cross-Selling**: - While no specific revenue synergies have been built into the model, there are opportunities for cross-selling products, particularly in vascular access and infusion systems [50][51] This summary encapsulates the key points discussed during the conference call regarding ICU Medical's acquisition of Smiths Medical, highlighting the strategic, financial, and operational implications of the transaction.

ICU Medical, Inc. (NASDAQ:ICUI) Q2 2021 Earnings Conference Call August 4, 2021 4:30 PM ET Company Participants John Mills - ICR, IR Vivek Jain - Chairman and CEO Brian Bonnell - Chief Financial Officer Conference Call Participants Larry Solow - CJS Securities Matt Mishan - KeyBanc Jayson Bedford - Raymond James Operator Good day. And welcome to the ICU Medical, Inc. Q2 2021 Earnings Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Mr. John Mills of ICR. Plea ...

| --- | --- | --- | --- | |-------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | ICU Medical, Inc. Q2 2021 Conference Call | | | | | Presentation | | | | | August 4, 2021 | | | | Disclosures > Any statement concerning Management's expectation with respect to future results is a forward looking statement based upon the best information currently available to Management and assumptions Management believes are reasonable, but Management does not intend t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to (Registrant's telephone number including area code) Commission File No.: 001-34634 Indicate by check mark whether the registrant (1) has filed all reports required t ...

ICU Medical, Inc. (NASDAQ:ICUI) Q1 2021 Earnings Conference Call May 6, 2021 4:30 PM ET Company Participants John Mills – Managing Partner Vivek Jain – Chairman and Chief Executive Officer Brian Bonnell – Chief Financial Officer Conference Call Participants Matt Mishan – KeyBanc Jayson Bedford – Raymond James Pete Lukas – CJS Securities Operator Good day, and welcome to the ICU Medical, Inc.’s Q1 2021 Earnings Call. Today’s conference is being recorded. At this time, I will turn the conference over to Mr. J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of (I.R.S. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of incorporation or ...

ICU Medical, Inc. (NASDAQ:ICUI) Q4 2020 Earnings Conference Call February 25, 2021 4:30 PM ET Company Participants John Mills - Managing Partner-ICR Vivek Jain - Chief Executive Officer & Chairman Brian Bonnell - Chief Financial Officer Conference Call Participants Matthew Mishan - KeyBanc Pete Lukas - CJS Securities Jayson Bedford - Raymond James Operator Good afternoon, ladies and gentlemen and welcome to the Fourth Quarter 2020 ICU Medical, Incorporated Earnings Conference Call. At this time, all partici ...

| --- | --- | --- | --- | |-------------------------|-------|-------|-------| | | | | | | | | | | | ICU Medical, Inc. | | | | | Q4 2020 Conference Call | | | | | Presentation | | | | Disclosures > Any statement concerning Management's expectation with respect to future results is a forward looking statement based upon the best information currently available to Management and assumptions Management believes are reasonable, but Management does not intend the statement to be a representation as to future resu ...