Today 3M announced that it is acquiring Acelity, Inc. and its KCI subsidiaries for about $6.7 billion. Acelity is a privately held advanced wound care company that manufactures advanced wound dressings and specialty surgical products such as negative pressure surgical incision management systems.

“This acquisition bolsters our Medical Solutions business and supports our growth strategy to offer comprehensive advanced and surgical wound care solutions to improve outcomes and enhance the patient and provider experience,” said 3m CEO Mike Roman in a press release about the definitive agreement. ““Together, we will apply 3M science to bring differentiated offerings to key wound and operative care solutions worldwide.”

The transaction is expected to close in the second half of this year.