Smiths Medical acquires Medex
21 March 2005. CARLSBAD, Calif., USA. Medex, Inc. has announced the
acquisition of its worldwide business by Smiths Medical, a division of
Smiths Group plc. Based in the UK, Smiths Group plc designs, manufactures
and sells safety critical systems and products. Smiths Group plc has
market-leading positions in aerospace systems, detection systems, medical
devices, mechanical seals and interconnect products.
"This merger creates value for our customers, employees and shareholders
— the two companies together are much more competitive," stated Dominick
Arena, President. "Our product lines are extremely complementary, with the
combined offering giving us unprecedented reach into our customer accounts
and increased visibility in the marketplace. We will be more able to provide
system solutions and value-added services to our customers, which has
always been a key objective. We will also be able to increase our investment
in product research and development, building a culture of innovation."
The transition includes Smiths Medical assuming responsibility for
worldwide Medex manufacturing operations to support existing Medex business
operations. The most recently reported annual sales of Smiths Medical and
Medex on a combined pro-forma basis were approximately $1.25 billion.
"We are pleased to have had the opportunity to work with Medex management
to develop one of the leading worldwide critical care companies in the
marketplace," said Timothy A. Dugan, partner at One Equity Partners. "We are
confident that this combination with Smiths will enable the new company to
grow its market share and leverage its strong history of creating value for
its customers and shareholders," Dugan said.