3M PAYS BILLIONS TO EXPAND IN MEDICAL PRODUCTS AND ECOMMERCE

3M has agreed to pay more than $6 billion to acquire Acelity and its KCI subsidiaries, developers and marketers of wound-care products sold through ecom

merce and mobile apps as well as account managers.



3M Co., already a major player in B2B ecommerce, is ready to pay $6.7 billion—amounting to its biggest acquisition ever—for a company that will expand its online sales of medical products in an attractive growth market, 3M CEO Mike Roman says.

3M said last week that it had entered into a definitive agreement to acquire the worldwide operations of Acelity Inc. and its KCI subsidiaries, developers and marketers of wound-care products Acelity sells to physicians through ecommerce and mobiles apps as well as account managers. 3M said it plans to pay about $6.7 billion, including $4.4 billion for Acelity’s assets plus the assumption of its outstanding debt. Acelity is owned by a consortium of Apax Funds and affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.

transcript from Seeking Alpha

MyKCI.com

MyWoundHealing

Roman said Acelity will expand 3M’s products offerings in advanced wound care products, a segment he said is an $8 billion market growing in single-digits, with increasing demand driven in part by an aging population and an expanding middle class. The acquisition, expected to close in the second half of this year, will make Acelity and KCI a part of 3M’s Medical Solutions business.

ecommerce as a share of total revenue was about 25%,

“Today, KCI embarks upon a new era in its long history as a pioneer in healthcare,” added R. Andrew Eckert, CEO of Acelity. “Backed by the resources and expertise of 3M, KCI will be able to offer clinicians and patients even more compelling solutions designed to speed healing and improve outcomes.”

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https://www.digitalcommerce360.com/2019/05/06/3m-pays-billions-to-expand-in-medical-products-and-ecommerce/

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