Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LOPEZ GEORGE A
   2. Issuer Name and Ticker or Trading Symbol
ICU MEDICAL INC/DE [ICUI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) __X__ Other (specify below)
Chairman / Chairman
(Last)
(First)
(Middle)
951 CALLE AMANECER		 3. Date of Earliest Transaction (Month/Day/Year)
10/21/2008
(Street)

SAN CLEMENTE, CA 92673		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/21/2008   X   28,190 A $ 8.1667 789,671 D  
Common Stock 10/21/2008 10/21/2008 S   300 D $ 34.05 789,371 D  
Common Stock 10/21/2008   S   700 D $ 34.09 788,671 D  
Common Stock 10/21/2008   S   100 D $ 34.1 788,571 D  
Common Stock 10/21/2008   S   1,300 D $ 34 787,271 D  
Common Stock 10/21/2008   S   600 D $ 34.15 786,671 D  
Common Stock 10/21/2008   S   100 D $ 34.14 786,571 D  
Common Stock 10/21/2008   S   100 D $ 34.16 786,471 D  
Common Stock 10/21/2008   S   100 D $ 34.13 786,371 D  
Common Stock 10/21/2008   S   500 D $ 34.12 785,871 D  
Common Stock 10/21/2008   S   200 D $ 34.04 785,671 D  
Common Stock 10/21/2008   S   1,400 D $ 34.07 784,271 D  
Common Stock 10/21/2008   S   292 D $ 34.17 783,979 D  
Common Stock 10/21/2008   S   808 D $ 34.18 783,171 D  
Common Stock 10/21/2008   S   500 D $ 34.32 782,671 D  
Common Stock 10/21/2008   S   100 D $ 34.64 782,571 D  
Common Stock 10/21/2008   S   400 D $ 34.63 782,171 D  
Common Stock 10/21/2008   S   700 D $ 34.83 781,471 D  
Common Stock 10/21/2008   S   1,112 D $ 35 780,359 D  
Common Stock 10/21/2008   S   400 D $ 34.99 779,959 D  
Common Stock 10/21/2008   S   178 D $ 34.92 779,781 D  
Common Stock 10/21/2008   S   110 D $ 34.98 779,671 D  
Common Stock 10/21/2008   S   18,190 D $ 35 761,481 D  
Common Stock               1,186,843 I by Partnership (1)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 8.1667 10/21/2008   X     28,190 01/01/2002 01/02/2009 Common Stock 28,190 $ 8.1667 (2) 438,480 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LOPEZ GEORGE A
951 CALLE AMANECER
SAN CLEMENTE, CA 92673		   X     Chairman Chairman

Signatures

 By: Lynn DeMartini For: George A. Lopez, M.D.   10/22/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Common Stock owned by George A. Lopez M.D. Second Family Limited Partnership. Dr. Lopez holds a one-percent general partnership interest in the Partnership. As general partner, he has the power to vote and power to dispose of the 1,186,843 shares owned by the Partnership and may be deemed to be beneficial owner of such shares. The Partnership acquired the shares on 2/24/99 from Trusts for the benefit of the Lopez children, the Christopher George Lopez Children's Trust and the Nicholas George Lopez Children's Trust, which own a 99% limited partnership in the Partnership. Dr. Lopez is not trustee of and has no interest in the children's Trusts. Except to the extent of his undivided one percent general partnership interest in the assets of the Partnership, Dr. Lopez disclaims any beneficial ownership of the shares owned by the Partnership.
(2) Transaction is the exercise of a derivative security; see Column 2.

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