Medex Inc.
Medex Inc. was a global leader in fluid and drug delivery products. It marketed and sold critical care systems and products to more than 5,500 hospitals, healthcare systems and alternate healthcare settings. Its products were used for a variety of therapeutic, diagnostic and long-term procedures. Medex was known for its market-leading syringe pump, most often used in the NICU and other intensive care settings where the precision of fluid and drug delivery is paramount.
Investment: Water Street partnered with the management team of Medex, a $100 million employee-owned company, to develop the company’s acquisition and growth strategy. In a transaction privately negotiated by the Water Street team, Medex acquired Johnson & Johnson’s Jelco I.V. catheter business in 2003 to create a market leader in fluid and drug delivery in critical care with over $300 million in sales.
Result: We worked with Medex to file for an IPO to provide the company with new currency for additional acquisitions. At the time of our IPO filing, we negotiated the sale of Medex to Smiths Group plc, a global technology company listed on the London Stock Exchange, to better position Medex for future market success.
