ICU Plans Initial Stock Offering

IRVINE —  ICU Medical Inc., which makes disposable medical devices, hopes to raise $14 million by an initial public offering of 1.08 million common shares that are expected to sell for $11 to $13 each on the NASDAQ exchange.

The company makes devices to protect medical workers and patients against the spread of infectious diseases. Its 1991 net income was $2.95 million, up from $1.46 million in 1990, according to documents filed with the Securities and Exchange Commission. Proceeds from the offering will be used to expand sales and to purchase equipment for research and development.