San Clemente-based ICU Medical Inc. is in talks about a possible sale to a Chicago-based private equity firm, according to published reports.
ICU makes needleless intravenous connectors and other medical devices.
Bloomberg reported that ICU was in exclusive talks to sell itself to GTCR LLC, a private equity firm. The firm has lined up as much as $750 million in financing for a potential deal, the report said.
ICU now has a market value of about $1.1 billion. Its shares got a boost last month after Bloomberg reported that the device maker engaged J.P. Morgan Chase & Co. to look at a deal that could fetch up to $1 billion.
GTCR invests in various sectors, including healthcare.
ICU, GTCR and JP Morgan declined to comment to Bloomberg.