Solventum inks $725M Acera takeover
Article excerpt
Solventum inks $725M Acera takeover. The company has stepped up its interest in M&A since making a $4.1 billion divestiture that strengthened its balance sheet. Dive brief: * Solventum said Thursday it has struck a deal to buy wound care company Acera Surgical for $725 million in cash. * The deal, which features up to $125 million in milestones, will give Solventum control of a portfolio of synthetic soft tissue repair products. Stifel analysts said in a note to investors that they believe the synthetic market "is growing at a double-digit pace." * Acera is Solventum's first acquisition since it spun out of 3M. Solventum executives made M&A part of their focus after selling the company's purification and filtration business to Thermo Fisher Scientific for $4.1 billion. Dive insight: Acera's portfolio centers on Restrata, a fully resorbable, electrospun fiber matrix that resembles human extracellular matrix. Applied to hard-to-heal, complex wounds, the synthetic fibers support cell ingrowth, retention and differentiation. Acera expects to generate sales of around $90 million this year. Solventum has identified the products as a good fit for its portfolio and capabilities. The company plans to use its global footprint, specialized wound care sales force and leadership in negative pressure wound therapy to accelerate adoption of Restrata products. Acera's products will...
Keep reading with a free account
The rest of this article, and every signal for Solventum, is in your free account.
Extracted from this sentence
Solventum hired Rachel Ellingson as chief strategy and corporate development officer shortly after inking the deal with Thermo Fisher, adding an executive with M&A experience to its C-suite.
