3M (NYSE:MMM) said today that it agreed to pay more than $6.7 billion to acquire wound care giant Acelity, including its debts, from the private equity consortium that took KCI private for $6.3 billion back in 2011.
San Antonio, Texas-based Acelity, which registered for an initial public offering last month, was formed after Apax Partners and a pair of Canadian pension funds took Kinetic Concepts Inc. private in 2011. It posted sales of $1.5 billion last year, 3M said.