Shares of San Clemente-based ICU Medical Inc. shot up in trading today on reports that it was considering a sale.
ICU’s shares were up 13% to a market value of $1.01 billion in midday trading.
The company makes needleless intravenous connectors and other medical devices.
Investors sent ICU’s shares up after Bloomberg reported that ICU has engaged J.P. Morgan Chase & Co. to look at a deal that could fetch up to $1 billion for the company. Bloomberg noted that any discussions were very early and that ICU was gauging interest from potential buyers.