Company Overview - ICU Medical is a global MedTech company focused on IV therapy and critical care products, with sales in approximately 80 countries[6] - The company's diluted equity value is $3.82 billion, with a net debt of $1.02 billion (approximately 2.6x leverage) and an enterprise value of $4.84 billion[8] - The company's revenue is divided into three segments: Consumables (~$1.1B), Systems (~$680M), and Vital Care (~$300M)[7] - Geographically, 64% of sales are in the US & Canada, with the remaining in other regions[8] - Single-use disposables and software account for 87% of revenue, while hardware accounts for 13%[8] Growth Strategy - The company aims to deliver mid-single-digit growth across its core business[20] - The company is focused on expanding gross margins, with an opportunity for +200bps expansion remaining[37] - The company is developing a new IV therapy platform for launch in 2026, featuring a shared cloud-based enterprise software[24, 25] Innovation and Product Portfolio - The company has a complete IV therapy portfolio across the entire care continuum[15] - The company is focused on innovation in IV consumables to address clinical priorities such as patient and clinician safety and clinical efficiency[33] - The company is creating clinical value with IV consumables innovation, addressing impactful clinical priorities[33]