CARLSBAD, Calif., March 21 /PRNewswire/ -- 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. A public company whose shares are listed on the London Stock Exchange, Smiths Group plc has market-leading positions in aerospace systems, detection systems, medical devices, mechanical seals and interconnect products.
The Medex range of products will join other market-leading brands that all form part of Smiths Medical. By joining forces and combining strengths, Smiths Medical and Medex are dedicated to providing customers with a superior portfolio of products, backed by world-class customer service.
“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.
About Medex
Medex is a global manufacturer and marketer of critical care and alternate care medical products used in both acute and alternate care settings for a variety of therapeutic, diagnostic and long-term procedures. Medex markets and sells critical care systems and products to over 5,500 hospitals, health care systems, and alternate healthcare settings in more than 75 countries through a global sales force and distribution network. Headquartered in Carlsbad, California, the Company employs approximately 2,000 people worldwide. For more information please visit http://www.medex.com/.
About One Equity Partners
One Equity Partners manages $3.5 billion of investments and commitments for JPMorganChase & Co. in direct private equity transactions as well as venture and management buyout funds. Our investment professionals are located across North America and Europe, with offices in New York, Chicago, Detroit, and Frankfurt. One Equity Partners focuses on making majority-ownership investments in late-stage, middle-market companies, with an emphasis on corporate partnerships and divestitures.
Forward-Looking Statements
This news release contains certain “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. Detailed information about such risk factors is set forth in the Company’s Securities and Exchange Commission filings. The Company undertakes no obligation to update, alter or release publicly any revisions to its forward-looking statements, whether as a result of new information, subsequent events or developments.
Contact: Gregory Aranaga Director, Corporate Communications +1 760.602.4455 garanaga@medex.comhttp://www.medex.com/
Medex, Inc.
CONTACT: Gregory Aranaga, Director, Corporate Communications of Medex,Inc., +1-760-602-4455, garanaga@medex.com
Web site: http://www.medex.com/