Strong Revenue Growth in Q4
ICU Medical reported Q4 revenue of $622 million, growing 9% on a constant currency basis or 8% reported, aided by a temporary shortage in IV Solutions. All three reporting segments experienced year-over-year growth.
Record Performance in Vital Care Segment
Vital Care segment grew 16% on a constant currency and reported basis, driven by a national shortage in IV Solutions. The shortage environment is expected to normalize midway through Q1 of 2025.
Significant Improvement in Adjusted EBITDA
Adjusted EBITDA for Q4 increased by 22% to $106 million, compared to $86 million in the previous year.
Positive Progress on Quality Remediation
ICU Medical achieved a successful FDA inspection at the site underpinning their warning letter, indicating progress in quality remediation efforts.
Strategic Joint Venture with Otsuka
ICU Medical announced a joint venture with Otsuka Pharmaceutical Factory to enhance the IV Solutions product line, expected to close in Q2 2025.