Pellerano & Herrera advises ICU Medical Inc. in acquisition of Pfizer Inc.’s Hospira Infusion Systems global dealPublished on:
Pellerano & Herrera provided corporate, tax and labour advice in the Dominican Republic to ICU Medical Inc. in the acquisition of the Hospira Infusion Systems from Pfizer Inc. The legal team was led by partners Luis R Pellerano and Mariangela Pellerano and senior associate Carolina León.
ICU Medical acquired 100% of Pfizer's global infusion therapy business, Hospira Infusion Systems (HIS), for US$1 billion. The Hospira Infusion Systems business includes IV pumps, solutions, and devices that, when combined with the ICU Medical’s existing businesses, becomes one of the world’s leading pure-play infusion therapy companies. Under the deal, Pfizer secured US$600 million in cash from ICU Medical, as well as US$400 million in shares from its common stock. Pfizer now owns around 16.6% stake in ICU Medical.
Latham & Watkins and Baker & McKenzie served as ICU Medical’s international counsel and Skadden, Arps, Slate, Meagher & Flom LLP and Ropes & Gray LLP represented Pfizer.