Smiths Group PLC - London-based engineering company operating in the energy, industrial, security and aerospace sectors - Sells 830,000 shares in ICU Medical Inc, around 3.4% of the California-based medical device manufacturer’s total share capital. This equates to roughly 33% of Smiths’ holding in ICU Medical. Smiths continues to hold 1.7 million shares, or 6.9% of the total share capital of ICU Medical. The company will receive net proceeds of around $88.0 million from the sale, which it says will be used for general corporate purposes.

In January 2022, Smiths sold off its medical division, Smiths Medical Inc, to ICU Medical for $1.85 billion in cash alongside $600 million worth of ICU shares. ICU’s share price has since declined around 47%, but experienced an 18% uptick over the past 30 days, currently trading at $109.23 each.

Current stock price: 1,608.50 pence each, marginally higher in London on Friday morning.

12-month change: down 10%

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