Posted on : Monday 6th May 2019 12:44 PM
3M is buying medical technology company Acelity for $6.7 billion, this includes debt.
Acelity Inc., situated in The San Antonio, Texas, produces 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 might absorb Acelity's products, was its only division that posted a growth in sales last quarter.
3M guessed the purchase, 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 sale is expected to close in the second half of 2019.
This article is originally posted on manufacturing.net