ICU has unique culture/systems and good lean (NVA reduction) processes. Although company only spends approx 1-2% of sales on R&D, the pipeline has been full of novel, unique devices (look at oncology products). Part of the "secret" of the organization is the mind of the CEO/founder Dr. Gearge Lopez. He developed oncology product specifications while his wife was dying of cancer.... unbelievable focus on this market. And a clever guy - this guy is a "Midas". Many other ICU company execs would be considered less-than-competent within Fortune 500 organizations (Dr Lopez is insulated with poorly educated "yes" people). If considering a buyout, you may want to retain the CEO ("Doc" Lopez) for the transitional period, and then make him CTO. Best wishes to all.
Dr. Lopez had an (documented) objective of "$1Billion" market valuation for 5 years.... he did it ! Now I think he wants to retire (he's a serial entrepreneur - he'll do something else). He's the founder, has worked very hard (staying on the pulse of every project, every facility, sales/marketing, etc), and wants to leave as a winner (he already has plenty of cash - I think it's a psychological barrier that was crossed at $1B valuation). Again, one sharp dude... much respect. His health deteriorated a few years ago, potentially coincidental with his "free-breath" deep-sea diving record setting activities ?