3M recently announced that it has entered into a definitive agreement to acquire Acelity Inc. and its KCI subsidiaries worldwide from a consortium comprised of funds advised by Apax Partners (the Apax Funds), together with controlled affiliates of Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments). The total enterprise value is approximately $6.7 billion, including assumption of debt, subject to closing and other adjustments. Acelity is a global medical technology company focused on advanced wound care and specialty surgical applications marketed under the KCI brand.

“Acelity is a recognized leading provider of advanced wound care technologies and solutions and an excellent complement to our Health Care business,” said Mike Roman, 3M CEO. “This acquisition bolsters our Medical Solutions business and supports our growth strategy to offer comprehensive advanced and surgical wound care solutions to improve outcomes and enhance the patient and provider experience. We are excited to bring Acelity’s technologies and dedicated employees to our team. Together, we will apply 3M science to bring differentiated offerings to key wound and operative care solutions worldwide.”

Acelity reportedly had 2018 revenues of $1.5 billion. The transaction is expected to close in the second half of 2019, subject to customary closing conditions and regulatory approvals. 3M reports that it will finance the transaction with a combination of available cash and proceeds from the issuance of new debt.

For more information, visit www.3m.com. Acelity can be found online at www.acelity.com.