Smith Medical Device Company Intelligence Report

Date: March 7, 2013
Pages: 40
US$ 515.00
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Publisher: Espicom Business Intelligence
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: S21B96A8698EN

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Smith Medical Device Company Intelligence Report
Based in Minnesota, US, Smiths Medical is a leading provider of interventional medical devices for the hospital, emergency, home and specialist environments. Its products are used during critical and intensive care, surgery, pre- and postoperative care, and in a series of high-end home infusion therapies. The company also offers products for veterinary and industrial use.

The company’s product portfolio serves three main markets:
  • Vital Care – including airway products, patient monitoring, temperature management and IVF reproduction solutions.
  • Medication Delivery – including drug-delivery and chemotherapy-delivery systems.
  • Safety Devices – including needle protection devices and peripheral IV catheters.
Brands within this portfolio include: Portex, Medex, Deltec, Level 1, Pneupac, Wallace, CADD, BCI, Jelco, Medfusion, Graseby and SurgiVet.

Smiths Medical is part of the Smiths Group, a UK-based technology company, which, in addition to Smiths Medical, operates four other divisions: Smiths Detection (manufacture of sensors that detect and identify explosives, narcotics, weapons, chemical agents and contraband); John Crane (products and services for the major process industries, including the oil and gas, chemical, pharmaceutical, pulp and paper and mining sectors); Smiths Interconnect (specialised electronic and radiofrequency components and sub-systems) and Flex-Tek (engineered components that heat and move fluids and gases, flexible hosing and rigid tubing). Smiths Medical is the second-largest contributor to its parent company revenues, generating 28.2% of the group’s total revenue in FY2012.

Smiths Medical has operations in over 30 countries, with manufacturing concentrated in Mexico, the US, the UK, Italy, Germany and China. The company sells to approximately 120 markets and, while the US is Smiths Medical's largest market with around 50% of sales, the company is investing to build its presence in select emerging markets, namely China, India and Latin America.

In March 2009, following a review of its operations, Smiths Medical announced its intention to exit the diabetes market since, as its only direct-to-consumer enterprise, it had little synergy with the rest of the company’s businesses. The company’s diabetes portfolio included Deltec Cosmo insulin pumps and Cleo and Comfort infusion sets (see Products section).

Smiths Medical competes with different businesses across a range of product areas. Its main competitors include: Baxter, Covidien, Teleflex/Arrow, B Braun, Becton Dickinson, Hospira, Alaris (CareFusion), Arizant, Edwards Lifesciences and Codan.

In January 2011, Smiths Group rejected a US$2.45 billion offer for Smiths Medical from an undisclosed suitor. The Group turned down the "best and final" offer and said it would not be in the interests of shareholders to pursue discussions on the basis of an indication "at this price level".

Smiths Group remains one of the last significant remaining conglomerates left in the UK and its Medical division has long been seen as a candidate for a spin-off or disposal. In recent times, such talk has intensified as the division has been restructured and revived. A potential break-up of Smiths Group has arguably been on the cards for a long time. However, management has always been able to resist such pressure to shed the Medical division because of its ability to deliver sustained revenues. Despite this, the appointment of a Chief Executive Philip Bowman, who has a history of breaking up businesses and selling companies, seemed to have encouraged the bidder to make its move. Although the identity of the unsuccessful offer was not disclosed, media reports suggested that the approach came from Apax Partners, a UK private equity group. Other private equity groups were also touted as potential bidders, but talk also switched to rivals in the industry, including the possibility of Baxter, Covidien, GE Healthcare and Johnson & Johnson entering the fold.

This company report provides

  • Key contact information
  • Introduction to the company and its current activities
  • Summary of its financial performance
  • Who are the company’s major competitors?
  • Key recent events in an “at a glance” format
Financial Review
  • Current year and annual financial data, including revenue breakdowns by product area and geographic region (if available)
  • Table providing in-depth five-year financial analysis
  • Employee data, including breakdown by company division and geographic location
Strategic Focus
Investigates the company’s aims and its areas of focus

Core product areas, key brands, product approvals and launches

Research and Development
  • How much has been invested in R&D?
  • Where is the research based?
  • What alliances and agreements does the company have and with whom?
Manufacturing and Distribution
  • Identifying the company’s manufacturing locations
  • Sales and marketing facilities
  • With whom has the company reached agreements and what do they involve?
  • Key contracts awarded
Mergers, Acquisitions and Divestments


Key Corporate Events


New Products
Emerging Medical Markets
Espicom View


Fiscal Year 2012 Financial Results
  Sales by Business Segment
Five-Year Financial Data


Vital Care
Medication Delivery
Safety Devices
Veterinary Care


  Smiths Medical Clinical Research Business Unit
Research Partnerships
  GOSH/ICH and UCL Partnership
  Everest Research to Develop Oxygen Device
  Smiths Medical High Altitude Laboratory




  Nexus Medical
  Acacia Research
  Research Instruments
  Daiken Medical
  VSM MedTech
  W R Grace & Co
  Venetec International


  Zhejiang Zheda Medical Instrument
  Tecnicas Medicas
  DHD Healthcare
  Smiths Medical Japan
  MPS Acacia Sharps Safety Products
  Abbott Laboratories’ Epidural Kits and Trays Business
  Bivona Medical Technologies
  Griff Industries’ Point-Lok Needle Protection Device
  Hemex Medical


  Diabetes-related Patents
  pvb Critical Care
  Portex Urology and Ostomy Products Businesses
  Eschmann Equipment
  Kylie and Kanga Brands


  Acacia Research



   Recent Key Events
   Smiths Medical - Annual Financial Results, FY2008-FY2012
   Smiths Medical - Annual Revenues by Business Area, FY2008-2012
   Smiths Group – Five-Year Financial Summary
   Smiths Group - Approximate Number of Employees, FY2008-FY2012
   Smiths Medical - Annual R&D Expenditure, FY2008-FY2012
   Smiths Medical – Principal Manufacturing Facilities
   Agreements Summary
   Mergers & Acquisitions Summary


   Smiths Medical - Annual Revenue and Operating Profit, FY2008-FY2012
   Smiths Group - FY2012 Revenues by Business Area (%)
   Smiths Medical - Annual Revenues by Business Area, FY2008-FY2012
   Smiths Medical - Revenue by Business Sector, FY2012
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