☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Commission File No. 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R. ...

Revenue Performance - Total revenue for the three months ended September 30, 2019, was $307.5 million, a decrease from $327.2 million in the same period of 2018 [127]. - Infusion Consumables revenue for the three months ended September 30, 2019, was $119.8 million, an increase of 1.7% compared to $117.8 million in 2018 [132]. - Infusion Consumables revenue for the nine months ended September 30, 2019, decreased to $358.0 million from $361.5 million in 2018, a decline of 1.0% [132]. - IV Solutions revenue for the three months ended September 30, 2019, was $98.2 million, a decrease of $16.2 million or 14.2% compared to the same period in 2018 [134]. - Infusion Systems revenue for the nine months ended September 30, 2019, was $244.5 million, down $18.8 million or 7.1% from the prior year [135]. - Critical Care revenue for the three months ended September 30, 2019, was $10.6 million, a decrease of $2.9 million or 21.5% compared to the same period in 2018 [136]. - Domestic revenue accounted for 72% of total revenue for the three months ended September 30, 2019, while international revenue was 28% [127]. - Infusion Systems represented 26% of total revenue for the three months ended September 30, 2019, consistent with 25% in 2018 [127]. Financial Metrics - Gross margin for the three months ended September 30, 2019, was 39%, down from 41% in the same period of 2018 [131]. - Gross margins for the three months ended September 30, 2019, were 38.6%, down from 41.1% in the same period in 2018 [137]. - Selling, general and administrative expenses for the three months ended September 30, 2019, were 21%, a decrease from 24% in 2018 [131]. - SG&A expenses for the three months ended September 30, 2019, were $65.9 million, a decrease of $10.7 million or 14.0% compared to the same period in 2018 [139]. - Research and development expenses remained consistent at 4% for both the three and nine months ended September 30, 2019, and 2018 [131]. - R&D expenses for the nine months ended September 30, 2019, were $36.0 million, a decrease of $3.3 million or 8.4% compared to the same period in 2018 [142]. - The company reported a net income of 9% for the three months ended September 30, 2019, compared to 3% in the same period of 2018 [131]. Cash Flow and Investments - Cash, cash equivalents, and investments decreased by $47.3 million from $384.1 million at December 31, 2018 to $336.8 million at September 30, 2019 [152]. - Net cash provided by operations for the nine months ended September 30, 2019 was $53.1 million, with net income and adjustments contributing $156.9 million [153]. - The net cash used in operations due to changes in operating assets and liabilities was $103.9 million, including a $30.9 million increase in inventories and a $32.5 million increase in accounts receivable [153]. - The net cash used in financing activities for the nine months ended September 30, 2019 was $14.2 million, a decrease of $22.3 million compared to the previous year [162]. - The company has a five-year Senior Secured Revolving Credit Facility of $150.0 million, with an accordion feature allowing for increased borrowing capacity [167]. - As of September 30, 2019, the company was in compliance with all financial covenants [170]. Strategic Initiatives - The company aims to enhance growth through increased sales and marketing efforts, although success is not guaranteed [129]. - The company plans to increase marketing efforts and expand production facilities, which may enhance manufacturing efficiencies and cost savings [1]. - The company is focused on the development and marketing of new products, which is critical for future growth [179]. - There is a dependence on a small number of customers, which poses risks to revenue stability [1]. - The company anticipates potential fluctuations in quarterly results due to business seasonality and customer ordering patterns [1]. - The company is exploring future investment alternatives to enhance liquidity and capital resources over the next twelve months [1]. Risks and Challenges - The company is subject to various risks including foreign exchange fluctuations and increases in labor costs [179]. - The outcome of litigation and regulatory approvals may significantly impact the company's operations and financial results [179]. - The effective tax rate for the nine months ended September 30, 2019, was 14%, compared to (4.0)% in the same period in 2018 [149]. - Other income for the nine months ended September 30, 2019, was $4.7 million, compared to a loss of $3.5 million in the same period in 2018 [148]. - The effective tax rate for the nine months ended September 30, 2018 was impacted by a discrete tax benefit of $12.8 million related to stock option exercises and a contract settlement tax benefit of $5.7 million [151]. Currency Exposure - The net Euro asset position was approximately €48.3 million, with a potential impact of $5.3 million on consolidated amounts from a 10% change in Euro to USD conversion [184]. - The net Canadian dollar asset position was approximately $37.5 million, with a potential impact of $2.6 million from a 10% change in Canadian dollar to USD conversion [184]. - The company does not currently hedge its Canadian dollar or Euro foreign currency exposures, but it does hedge a portion of its manufacturing spend in Mexican Peso [185].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2019 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) Delaware 33-0022692 (State or other jurisdiction of (I.R.S. E ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2019 Or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: to Commission File No.: 001-34634 | Delaware | 33-0022692 | | --- | --- | | (State or other jurisdiction of | (I.R.S. Employer | | incorporation or organization) | Ide ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-34634 ICU MEDICAL, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incorporation or or ...