3M to Buy Medical Tech Company Acelity for $6.7 Billion

ST PAUL, Minn. (AP) — 3M is buying medical technology company Acelity for $6.7 billion, including debt.

Acelity Inc., based in The San Antonio, Texas, makes advanced wound care products and had $1.5 billion in revenue last year.

3M, which makes Post-it notes, industrial coatings and other consumer products, is coming off a rough earnings report last week that sent its stock down more than 13%. 3M's health care unit, which will absorb Acelity's products, was its only division that posted an increase in sales last quarter.

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3M estimated the acquisition, announced Thursday, will cost it about 35 cents on an earnings-per-share basis over 12 months. Excluding costs and one-time expenses, the company expects a 25 cents-per-share benefit over the same period.

The deal is expected to close in the second half of 2019.


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Source: AP


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