Pharmaceutical & Life Sciences News

3M Expands Medical-Products Unit in Record $4.3 Billion Deal (2)

May 2, 2019, 1:19 PMUpdated: May 2, 2019, 3:23 PM

3M Co. agreed to buy medical-products maker Acelity Inc. for about $4.3 billion, its biggest acquisition ever, as new Chief Executive Officer Mike Roman takes a more aggressive approach to expanding the beleaguered company.

The purchase, from a group of funds advised by Apax Partners, adds bandages and surgical-wound products to one of 3M’s most profitable businesses. The company valued the transaction at $6.7 billion including Acelity’s debt, which was $2.4 billion on Dec. 31.

“Health care for us has been a strong growth marketplace and portfolio, so we’ve been investing in a broader range of technologies,” Roman said May...

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