Smiths Group Confirms Merger Talks With ICU Medical

   By Euan Conley

Smiths Group PLC (SMIN.LN) confirmed that it has entered talks with ICU Medical Inc. (ICUI) over a potential merger of both companies' healthcare operations.

The U.K. engineering company said in a statement Sunday that it was in the "very early" stage of discussions over a potential combination with U.S.-based ICU Medical.

"The board of Smiths routinely reviews all options for the Group's portfolio of businesses to maximise value for Smiths shareholders," the company said in a statement.

Smiths group, which has a market cap of 6.81 billion pounds ($9.05 billion), added that there was no certainty that the merger will be concluded.

ICU Medical manufactures medical devices used in oncology, vascular therapy and critical care. The company struck an agreement in 2016 to buy Pfizer Inc.'s(PFE) Hospira infusion-systems business in a $1 billion cash-and-stock deal.

Write to Euan Conley at euan.conley@dowjones.com

(END) Dow Jones Newswires

May 28, 2018 05:16 ET (09:16 GMT)

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