ICU Medical to Acquire Excelsior Medical for $59.5 Million

San Clemente, Calif.-based ICU Medical has signed an agreement to acquire Excelsior Medical, a manufacturer of healthcare devices used to disinfect and protect access into a patient’s bloodstream, for $59.5 million.

In addition, ICU will sell the operating assets of Excelsior’s SwabFlush product and the pre-filled saline and heparin flush syringes to Medline Industries for $27 million.

Both transactions are expected to close within a week.

The acquitition of Excelsior’s SwabCap, a disposable cap designed to disinfect needlefree connectors when attached to an intravenous catheter, will enhance ICU’s infusion therapy product portfolio. —Michael Cipriano