ICU Medical acquires Bio-Plexus:
This article was originally published in Clinica
Executive Summary
ICU Medical, the San Clemente, California-based company that makes disposable medical connection products for use in intravenous therapy, is to purchase a majority stake in Bio-Plexus of Vernon, Connecticut, which makes safety needles. ICU Medical will buy 84% of the company's stock from ComVest Venture Partners at 66 cents per share - they are currently trading on the over the counter bulletin board at 75 cents - as well as $2.5m worth of notes payable by Bio-Plexus. It intends to purchase the remaining shares at the same price in the near future. Bio-Plexus's products include the Punctur-Guard blood collection line and the Drop-It needle holder and disposable container line.