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Posted on : Monday 6th May 2019 12:44 PM

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

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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.


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