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3M completes acquisition of medical tech company Acelity

3M Co. completed the acquisition of medical technology company Acelity Inc. and the global Kinetic Concepts Inc. subsidiaries it owns from a consortium comprising funds advised by Apax Partners LLP and affiliates of the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.

The transaction has a total enterprise value of approximately $6.7 billion, including debt assumption and other adjustments.

Acelity specializes in advanced wound care and offers specialty surgical applications under the Kinetic Concepts brand. 3M said the acquisition will expand its healthcare business in the advanced and surgical-wound care segment.