July 18, 2018 / 6:54 AM / 5 months ago

Smiths Group medical unit hurt by EU medical devices regulation

July 18 (Reuters) - Smiths Group Plc expects a 2 percent drop in full-year revenue at its medical unit, hurt by some products losing certifications under the new European Union medical devices regulation and two contracts falling through in the United States, it said on Wednesday.

The engineering company, which provides hospital equipment, industrial services and security sensors, said group underlying revenue was 3 percent higher for the eleven months ended June, as its growth rate in the second half accelerated.

Smiths, which is in talks about a potential combination of its medical division with U.S.-based ICU Medical Inc, said there was no certainty that a transaction would be concluded. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri)

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