ICU Medical(US:ICUI)2025-09-04 20:30Company Overview - ICU Medical's 2024 revenues reached $2.35 billion[8] - The company's revenue mix includes 44% from consumables and 28% from systems pre-JV, which shifts to 52% and 33% post-JV respectively[6] - Vital Care accounts for 28% of revenue pre-JV and 16% post-JV[7] - Geographically, 64% of revenue comes from the US & Canada, and 36% from OUS post-JV[11] - Single-use consumables make up 88% of revenue, while hardware accounts for 12% post-JV[11] Financial Highlights - The company's diluted equity value is $3.2 billion, with a net debt of $1.0 billion, resulting in an enterprise value of $4.2 billion[11] Growth and Strategy - The industry is experiencing pump replacement cycle acceleration due to distinct circumstances[14] - The company is focused on improving its quality system and FDA warning letter remediation[37] - The company aims to achieve gross margin expansion, targeting 42-43% in the near-med term and 45% in the longer term[34] - The company is working towards a fully stable supply chain, production, and distribution network[37] - The company is focused on contract renewals of a significant portion of L-ICU US sales in late 2024[37]