3M recently announced that it has completed its acquisition of Acelity, Inc. and its KCI subsidiaries worldwide for a total enterprise value of approximately $6.7 billion, including assumption of debt and other adjustments. Acelity produces KCI-branded products for advanced wound care and specialty surgical applications.
“This is an exciting day as we bring together two premier and innovative companies that are focused on delivering comprehensive health care solutions to enable better outcomes for patients,” said Mike Roman, 3M chairman and CEO. “We are excited to have the tremendous people of Acelity join the 3M team, and are confident in the value that this acquisition will deliver to our customers and our shareholders. This addition further accelerates 3M as a leader in advanced wound care, which is a significant and growing market segment.”
KCI’s product offerings reportedly include negative-pressure wound therapy, advanced wound dressings, and negative-pressure surgical solutions. The business has annual revenue of approximately $1.5 billion, with year-to-date organic growth of 5% through September 30, 2019.