3M agrees to buy wound care company Acelity for $6.7B
Posted on May 03, 2019 by Medtech[y] Staff
3M has agreed to buy San Antonio, TX medical device company, Acelity, in a deal valued close to $6.7 billion.
The deal comes two weeks after Acelity filed for an IPO where they would raise between $100 - $500 million. KCI is one of Acelity's subsidiaries and their products are used for wound healing and surgical management.
“Today, KCI embarks upon a new era in its long history as a pioneer in healthcare,” said R. Andrew Eckert, CEO of Acelity. “The combination of KCI with 3M will accelerate the reach of a business that is a leader in innovation, customer experience and clinical and economic evidence. Backed by the resources and expertise of 3M, KCI will be able to offer clinicians and patients even more compelling solutions designed to speed healing and improve outcomes. I would like to thank Apax, CPPIB and PSP Investments for their close partnership and strategic direction over the years shaping KCI into a premier global advanced wound care company.”
KCI will become part of 3M's Medical Solutions business once the integration is complete.
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