3M Closes Ivera Acquisition to Augment Healthcare Unit - Analyst Blog
Diversified conglomerate 3M Company MMM recently completed the acquisition of Ivera Medical Corp -- a manufacturer of healthcare products -- for an undisclosed amount. Following the acquisition, Ivera is now a subsidiary of 3M and a part of its critical & chronic care solutions division.
The acquisition is aligned with 3M’s existing line of vascular access products. Ivera’s I.V. port connector caps under the Curos Brand are used to disinfect devices used for access into the patient’s bloodstream. With this acquisition, 3M aims to expand its offerings to hospitals and clinics and other locations to reduce infections. This acquisition is also expected to expand its horizons and unlock additional value.
3M aims to respond to strategic acquisition opportunities that can strengthen its portfolio. Healthcare is one of the highest investment priorities for the company and in the past several years, 3M has made substantial investments to bolster its healthcare businesses. Earlier 3M completed the acquisition of Treo Solutions, a company that analyzes data for hospitals, doctors and health insurers, for an undisclosed amount.
3M, together with its subsidiaries, operates as a diversified technology company with manufacturing operations spread over 70 countries. The company aims to deliver innovative security solutions to businesses and governments worldwide, thus ensuring the security of people and documents.
3M remains focused on inventing new products to maintain its competitive advantage worldwide. The rise in demand for such innovative 3M product services is likely to augment its overall revenues.
3M currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Compass Diversified Holdings. CODI, Danaher Corp DHR and Swire Pacific Ltd. SWRAY, all having a Zacks Rank #2 (Buy).
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