ICU Medical

What ICU Medical does

ICU Medical, Inc. (NASDAQ: ICUI) is a publicly traded medical device company founded in 1984 and headquartered in San Clemente, California, that develops, manufactures, and sells innovative medical technologies used in infusion therapy, vascular access, and adjacent clinical care areas. The company's portfolio spans nine product categories: infusion therapy (Plum large-volume pumps, CADD ambulatory pumps, Medfusion syringe pumps, IV consumables, vascular access devices, IV solutions); pharmacy preparation (ChemoLock and ChemoClave closed system transfer devices, Diana compounding workflow, PharmAssist peristaltic pumps); infusion safety software (LifeShield, PharmGuard, MedNet); airway management (Portex, Bivona tracheostomy tubes, ventilation, anesthesia, respiratory); temperature management (Hotline and Level 1 blood/fluid warmers); hemodynamic monitoring (Cogent 2-in-1 system, CardioFlo sensors, SafeSet blood sampling); renal care (ClearGuard antimicrobial caps, Tego connectors); pain management (EchoGlo nerve block kits, NRFit components); and veterinary/OEM. The technical foundation centers on needlefree connector engineering (Clave family), closed system mechanical barrier technology for hazardous drug handling, and IV-EHR interoperable pump-software architecture under the IV Performance Platform. The combined entity following the January 2022 Smiths Medical acquisition (~$2.35B from Smiths Group) operates manufacturing and direct sales in nine countries.

Name

ICU Medical

Legal name

ICU Medical, Inc.

Website

https://icumed.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Medical Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112), Medical Equipment and Supplies Manufacturing (3391), Surgical Appliance and Supplies Manufacturing (339113)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Infusion Pumps (Ambulatory/Stationary) (HLAHAIAF)

akta.pro secondary industries

Infusion Sets, Catheters & Pump Consumables (HLAHAIAH), Wearable Injectors & On-Body Delivery Systems (HLAHAIAE)

Keywords

• Infusion therapy devices
• IV medical devices
• Vascular access products
• Medical consumables
• Clinical infusion pumps

Headquarters

HQ city

San Clemente

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Medical Devices - Hardware Sales: ICU Medical generates revenue from selling infusion pumps, IV equipment, vascular access devices, and other medical hardware. Products include Plum large-volume pumps, CADD ambulatory pumps, Medfusion syringe pumps, and related capital equipment.
2. Single-Use Disposables and Consumables: The company derives significant revenue from recurring consumables including IV sets, connectors, disinfecting caps, administration sets, and other single-use products. Approximately 87% of revenue comes from single-use disposable items according to CEO presentation.
3. Infusion Safety Software: Revenue from software licenses including LifeShield Infusion Safety Software, PharmGuard Infusion Management System, and MedNet IV medication safety software for hospitals
4. Temperature Management Products: Sales of blood and fluid warming systems including Hotline products and Level 1 warming devices along with associated disposable sets
5. IV Solutions: Following completion of joint venture with Otsuka in May 2025, the company participates in IV solutions manufacturing through the JV entity Otsuka ICU Medical LLC

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

ICU Medical develops, manufactures, and sells medical devices and consumables for infusion therapy, including large-volume IV pumps, ambulatory and syringe pumps, needlefree IV connectors, closed system transfer devices for hazardous drug handling, infusion safety software, temperature management systems, airway management products, hemodynamic monitoring systems, and renal care products. Approximately 87% of revenue comes from single-use disposable items, with the remaining from capital equipment and software licenses sold primarily to hospitals, health systems, and clinical facilities.

Product overview

ICU Medical offers a comprehensive, multi-category medical device portfolio organized into nine core product lines: Infusion Therapy (large-volume pumps, ambulatory pumps, syringe pumps, IV consumables, vascular access, IV solutions), Pharmacy Preparation (closed system transfer devices, compounding automation, infusion safety software), Airway Management (tracheostomy, respiratory, anesthesia, ventilation), Temperature Management (blood/fluid warmers, convective warming), Hemodynamic Monitoring (monitoring systems, sensors, blood pressure), Renal Care (antimicrobial caps, connectors), Pain Management (regional anesthesia, nerve blocks, spinal/epidural), Veterinary, and OEM. The flagship IV Performance Platform integrates Plum Duo™ and Plum Solo™ precision IV pumps with LifeShield™ software for IV-EHR interoperability. The company serves acute care, home care, pharmacy, and veterinary settings through both organic development and the 2022 Smiths Medical acquisition which expanded the portfolio with CADD pumps, Medfusion syringes, and Portex/Bivona airway products.

Differentiator

Problem solved

Functional benefit

Brands

• Plum: Large-volume IV infusion pumps including Plum Duo and Plum Solo precision pumps
• CADD
• LifeShield
• ChemoLock
• ChemoClave
• Portex
• Bivona
• Hotline
• Level 1
• SafeSet
• ClearGuard
• Tego
• Diana
• Medfusion

Products and services

• Plum Solo Precision IV Pump
• Plum Duo Precision IV Pump
• Plum 360 Large Volume Infusion Pump
• CADD-Solis Infusion System
• CADD-Solis VIP Ambulatory Home Infusion System
• Medfusion Syringe Pumps
• Clave Needlefree IV Connectors
• ChemoLock Needlefree Closed System Transfer Device (CSTD)
• ChemoClave Needlefree Closed System Transfer Device (CSTD)
• Diana Compounding Workflow System
• PharmAssist Pro Peristaltic Pump
• LifeShield Infusion Safety Software
• ICU Medical MedNet IV Medication Safety Software
• PharmGuard Infusion Management System
• Level 1 H-1200 Fast Flow Fluid Warmer
• Hotline 3 Blood and Fluid Warmer
• Hotline Blood and Fluid Warmer
• Portex BLUselect Tracheostomy Tubes
• Bivona Silicone Tracheostomy Tubes
• Cogent 2-in-1 Hemodynamic Monitoring System
• CardioFlo Hemodynamic Monitoring Sensor
• SafeSet Blood Sampling System
• ClearGuard HD Antimicrobial Barrier Caps
• Tego Needlefree Hemodialysis Connector
• EchoGlo Peripheral Nerve Block Kits and Trays
• NRFit Components
• MyAcapella Digital OPEP Coach
• IV Performance Platform
• SurgiVet Advisor Tech Vital Signs Monitor

Quantifiable outcome

• 30% reduction in clinical medication errors through ready-to-administer formats
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

One partnership is on record.

• Otsuka Pharmaceutical Factory, Inc.coreStrategic or Co-development Partner · 1 May 2025ICU Medical and Otsuka Pharmaceutical Factory completed a joint venture to bolster IV solutions manufacturing and innovation in North America. The partnership creates one of the largest global IV solutions manufacturing networks with combined production of approximately 1.4 billion annual units. The JV entity is named Otsuka ICU Medical LLC and aims to bring additional supply chain resiliency and new innovation to the North American IV solutions market.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Becton, Dickinson and Company (BD): BD is the largest direct competitor in IV therapy, vascular access, and infusion consumables. BD's Medical segment competes head-to-head with ICU Medical's Clave connectors, IV sets, and infusion platforms, making it the closest peer for share, scale, and pricing dynamics in hospital infusion.
• Fresenius Kabi: Fresenius Kabi is a global manufacturer of infusion pumps (Agilia family), IV consumables, and specialty injectable drugs. It is a direct competitor to ICU Medical in hospital infusion and is increasingly expanding its pump and consumables portfolio in North America following its Ivenix acquisition.
• B. Braun: B. Braun is a privately held global leader in infusion therapy (Infusomat pumps, IV sets, needlefree connectors) and competes directly with ICU Medical across infusion pumps, consumables, and pharmacy preparation. Its broad hospital-focused portfolio and global footprint make it a close comparable on scale and product breadth.
• Terumo: Terumo competes with ICU Medical in infusion systems (Terufusion), syringes, and vascular access. Its hospital-focused medical device business and growing presence in infusion safety software make it a strong comparable for ICU Medical's premium pump and consumables strategy.
• Nipro Corporation: Nipro manufactures infusion sets, syringes, dialysis products, and other hospital medical devices, overlapping directly with ICU Medical's IV consumables, renal care, and vascular access portfolios. Its scale and emerging US footprint make it a relevant direct peer.
• Teleflex: Teleflex has direct overlap with ICU Medical's Smiths Medical-acquired Portex airway management and Bivona tracheostomy tube lines, and competes in vascular access and pain management. Its comparable hospital-channel model and product breadth in respiratory make it a relevant comparable.
• Baxter International: Baxter competes directly with ICU Medical across large-volume IV pumps (Sigma Spectrum), IV solutions, and infusion consumables. The Otsuka JV specifically targets the IV solutions market where Baxter is a dominant incumbent, making Baxter the most relevant peer for IV fluids manufacturing and supply.

Broad incumbents

• Medtronic: Medtronic is a diversified medical device leader with limited overlap in infusion but a comparable scale, hospital-channel presence, and R&D footprint. It is a relevant broader incumbent for benchmarking margins, capital allocation, and global hospital sales execution.
• Cardinal Health: Cardinal Health is a major medical product distributor and manufacturer with hospital channel reach. While it operates at a different layer of the value chain, it is comparable as a broad incumbent that supplies IV-related consumables and competes for hospital supply contracts.
• Smiths Group plc: Smiths Group divested Smiths Medical to ICU Medical in 2022, so it is no longer a direct peer in medical devices, but it remains comparable as the former parent of ICU Medical's largest business segment and as a UK-listed diversified industrial with medical exposure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/icu_medical
• LinkedInlinkedin.com/company/icu-medical

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICU Medical