3M Aims For Acelity In $6.7Bn Deal To Expand Wound-Care Presence
3M is betting big on wound-care maker Acelity and paying $6.7bn to buy the company and its KCI subsidiaries in its largest acquisition to date.
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The company’s health businesses include product lines worth nearly $9bn in annual sales. The deal is designed to allow both the new health care company and the “new 3M” to focus resources more efficiently on their separate priorities.
Device financing totaled $2.3bn for Q2 2019, with the debt category bringing in the most money. Merger and acquisition deals reached an aggregate $9.1bn (a 25% increase from Q1), thanks mostly to 3M’s $6.7bn takeover of Acelity and its KCI subsidiaries. Diagnostics/research financing, which totaled $2.4bn, showed a significant rise from the previous quarter, while diagnostics/research tools M&A values, at $233m, exhibited a steep decline.
The US FDA granted KCI's de novo request for the Prevena incision management system, making it the first negative pressure device cleared for reducing superficial surgical site infections in patients at high risk.