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ICU Medical's (ICUI) CEO Vivek Jain on Q4 2017 Results - Earnings Call Transcript

Mar. 01, 2018 11:04 PM ETICU Medical, Inc. (ICUI)2 Comments
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ICU Medical, Inc. (NASDAQ:ICUI) Q4 2017 Earnings Conference Call March 1, 2018 4:30 PM ET


John Mills - ICR, LLC

Vivek Jain - Chief Executive Officer and Chairman

Scott Lamb - Chief Financial Officer


Matthew Mishan - KeyBanc

Lawrence Solow - CJS Securities

Jayson Bedford - Raymond James

Mitra Ramgopal - Sidoti


Good afternoon, ladies and gentlemen, and welcome to the Q4 2017 ICU Medical, Inc. Earnings Conference. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to introduce one of your hosts for today's conference, Mr. John Mills. You may begin.

John Mills

Great, thank you. Good afternoon, everyone, and thank you for joining us today to discuss the ICU Medical financial results for the fourth quarter and year end December 31, 2017. On the call today representing ICU Medical is Vivek Jain, Chief Executive Officer and Chairman; and Scott Lamb, Chief Financial Officer.

We wanted to let everyone know that we will have a presentation accompany today's prepared remarks and to view that presentation, please go to our investor page and then click on events calendar. And it will be under the fourth quarter 2017 events.

Before we start our prepared remarks, I want to touch upon any forward-looking statements made during the call, including beliefs and expectations about the company's future results. Please be aware, they are based on the best available information to management and assumptions that are reasonable. Such statements are not intended to be a representation of future results and are subject to risk and uncertainties. Future results may differ materially from management's current expectations. We refer all of you to the company's SEC filings for more detailed information

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Comments (2)

What a great job by Jain Vitek and all at ICUI. I have owned since 2015 and my average cost basis is $80. Very pleased at today’s share price $240. I am in industry but do not work for ICU or competitor.
Keep in my clinicians always told me ICU IV connectors best at preventing infections. ICUI sold connectors direct and OEM.

Many competitors on IV connectors, including BD who has massive amount of spend around IV site.

They are much to modest, especially in this years conference call. What ICUI is not telling you the negotiated a very low price for Hosperia.

Nobody wanted Pfizer Hosperia Solutions Plants. GPO pricing had gotten so low it was difficult to make profit. Plus Hosperia plants and employees were difficult to manage. Always receiving FDA warning letters and threats of shutting plants down.
So ICUI gets Pfizer to sell at fraction of actual cost. This creates somewhat of barrier of entry to new competitor or competitor coping ICU business model.
Solutions are no bundled with ICUI pumps and IV connectors. IV connectors come attached to solutions. The marriage of these products creates higher GP a for each. Well done ICUII.
Well done ICUI. Started buying ICUI aim 2015 average share price $80.
I am in industry, so I have close up perspective. Although I do not work for ICUI air competitor. Clinicians always told me ICUI IV connector best there is for preventing infections. Patented 0 pressure.
Proven lower infection rate.

Jain Vitek and ICUI way to modest.
Here’s why.
Pfizer wanted to sell solutions. GPO price so low on solutions nobody would buy. Plus Pfizer bought Hosperia. Hosperia Plants always getting FDA warning letters and threats of plant shut downs.
I believe because of above factors ICUI said here’s ourprice, take it or leave it. Probably 10 Cents on the dollar. Industry said, ICUI crazy for buying. GPO’s control and many said buying Hosperia could put ICUI underwater for ever. Did not happen.

But what many failed to realize, ICUI would marry ICU connectors, tubing and solutions. And IV pumps. Putting unique IV connector on solutions and tubing take price pressure off solution and makes easier for Hospital to buy IV connector.
Selling against BD who has huge dollar spend at IV site. But market is so huge, I think ICUI can grow 10% a year, and BD and or other competitors will not even notice. Maybe BD abuts ICU?
Long ICUI!
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