Smiths Medical acquires Medex

21 March 2005. CARLSBAD, Calif., USA. Medex, Inc. has announced the acquisition of its worldwide business by Smiths Medical, a division of Smiths Group plc. Based in the UK, Smiths Group plc designs, manufactures and sells safety critical systems and products. Smiths Group plc has market-leading positions in aerospace systems, detection systems, medical devices, mechanical seals and interconnect products.

"This merger creates value for our customers, employees and shareholders — the two companies together are much more competitive," stated Dominick Arena, President. "Our product lines are extremely complementary, with the combined offering giving us unprecedented reach into our customer accounts and increased visibility in the marketplace. We will be more able to provide system solutions and value-added services to our customers, which has
always been a key objective. We will also be able to increase our investment in product research and development, building a culture of innovation."

The transition includes Smiths Medical assuming responsibility for
worldwide Medex manufacturing operations to support existing Medex business operations. The most recently reported annual sales of Smiths Medical and Medex on a combined pro-forma basis were approximately $1.25 billion.

"We are pleased to have had the opportunity to work with Medex management to develop one of the leading worldwide critical care companies in the marketplace," said Timothy A. Dugan, partner at One Equity Partners. "We are confident that this combination with Smiths will enable the new company to grow its market share and leverage its strong history of creating value for its customers and shareholders," Dugan said.

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