San Clemente-based ICU Medical Inc. said today that it was buying Excelsior Medical Corp. in Neptune, N.J. for $59.5 million.
ICU makes devices that help protect healthcare workers from exposure to infectious diseases or hazardous drugs, including needle-free intravenous connectors.
Excelsior’s devices are used to disinfect and protect access into a patient’s bloodstream.
ICU also said it would sell the operating assets of Excelsior’s SwabFlush device and pre-filled saline and heparin flush syringes to Mundelein, Ill.-based Medline Industries Inc. for $27 million. That deal calls for ICU to serve as a supplier and innovation partner for Medline’s SwabFlush business.
Shares of ICU closed down 1% today to a market cap of $1.7 billion.
