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.

- Sponsors -

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.

 

- Partner Content -

Sunni LeBeouf

Black History Month Spotlight This Black History Month, Cox Communications is proud to recognize Sunni LeBeouf for her prolific record of professional achievement, civic philanthropy,...

Source: AP

 

Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter