ICU Medical, a developer of a temporary pacemaker, completed the acquisition of Smiths Medical, a global manufacturer of specialty medical devices, from Smiths Group, a British multinational diversified engineering company, for $2.7bn. "We look forward to working together to continue providing quality, innovation, and value to our clinical customers worldwide. The addition of Smiths Medical fits well with ICU Medical's existing business and creates a scaled US-based global competitor that increases the stability of the medical supply chain and can grow as clinical care models evolve," Vivek Jain, ICU Medical Chairman and CEO. On August 2, 2021, TA Associates agreed to acquire Smiths Medical for $2.3bn. On September 8, 2021, ICU Medical agreed to acquire Smiths Medical for $2.7bn.