Solventum to acquire Acera Surgical

Solventum (SOLV) has entered into a definitive agreement to acquire Acera Surgical, a privately held bioscience company focused on developing and commercializing fully engineered materials for regenerative wound care for $725M in cash plus up to $125M in contingent cash payments based on the achievement of certain future milestones. Founded in 2013, Acera has developed and commercialized innovative synthetic treatment options for soft tissue repair, leveraging a proprietary electrospinning technology platform. The company’s Restrata products are currently available in the U.S. and used to treat hard-to-heal, complex wounds in acute care settings. The combination is expected to enable accelerated adoption of Restrata products in the acute care market and generate synergies by leveraging Solventum’s global footprint, specialized wound care sales force, and leadership in negative pressure wound therapy. Acera is expected to generate approximately $90M in sales in 2025. On an adjusted basis, excluding the potential impact of share repurchases made under the repurchase program announced today, the transaction is expected to be slightly dilutive to adjusted EPS in 2026 and accretive to adjusted EPS beginning in 2027. Solventum plans to use its cash on hand to finance the transaction, with no additional debt or use of its credit line, and expects to complete the transaction in the first half of 2026.