San Clemente, California-based medical device provider ICU Medical Inc is considering a sale that could fetch more than $1 billion, according to a Bloomberg News report Wednesday morning. The maker of intravenous medical equipment has tapped J.P. Morgan Chase & Co, according to the report, which cited people familiar with the manner.ICU's discussions about a possible sale are still early and the company is gauging interest, according to the report.A JPMorgan spokeswoman declined to comment. An ICU spokesman did not immediately return requests for comment.
Manufactures custom-made IV products, such as a click-lock positive connection device, and its accessories. Shares of ICUI traded higher by 14.3% or $8.74/share to $69.84. In the past year, the shares have traded as low as $48.74 and as high as $64.25. On average, 86857 shares of ICUI exchange hands on a given day and today's volume is recorded at 399406.
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