US medical technology developer buys 40 percent of Israeli infusion pump manufacturer.
CME manufactures and markets a range of infusion and syringe pumps for both home care and hospital settings. (Shutterstock.com)
American medical tech company CareFusion
has that it will invest $100 million for a 40 percent minority stake in Caesarea Medical Electronics
(CME), Israel’s infusion pump systems manufacturer.
CME designs, manufactures and markets a range of infusion and syringe pumps as well as related accessories and disposable administration sets for both home care and hospital settings.
CME infusion pumps are known for their compact and highly portable design, making them ideal for specialty applications such as IV and epidural anesthesia and pain management, infusions during MRI procedures, hospital and home nutrition, among others. The pumps are sold in 60 countries across six continents.
“This investment creates a strategic, long-term relationship with CME, which has great people and great technology that is very complementary to our infusion portfolio,” said Kieran Gallahue, chairman and CEO of CareFusion. “This is another example of how we can put our balance sheet to work through strategic investments that create opportunities to drive growth for the company in new markets and outside the US.”
Under the terms of the agreement, CareFusion has the right to make additional investments that would increase its interest to a majority owner of CME. CareFusion expects to complete the investment transaction by March 31, 2014, subject to certain closing conditions.