ICU Medical to buy Pfizer's infusion therapy business
Medical device maker ICU Medical Inc (ICUI.O) said it would buy Pfizer Inc's (PFE.N) global infusion therapy business, Hospira Infusion Systems, for $1 billion (0.79 billion pounds) in cash and stock.
ICU's shares rose about 7 percent to $135 in light premarket trading on Thursday.
Pfizer will receive $600 million in cash and nearly $400 million in newly issued shares of ICU Medical common stock, giving the drugmaker a stake of about 16.6 percent.
Pfizer will also get the right to nominate one director to ICU Medical's board as long as the company maintains a 10 percent stake. [nGNXNHHZEa]... read more
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