Post-its maker 3M Co. (NYSE: MMM) is buying Ivera Medical Corp., which makes disinfecting products for the health care industry, to build up its health division.
The San Diego-based target's products disinfect and protect medical devices that are used to access a patient's bloodstream, including intravenous port connector caps sold under the Curos brands. Terms of the deal were not disclosed. The company has annual sales of about $30 million.
The transaction adds to 3M's vascular-access products as health care providers look to reduce infections acquired in hospitals, 3M says. Currently, 3M owns a product called Tegaderm CHG, which aims to provide IV protection from microbes.
Health care companies have heightened their focus on patient outcomes since the implementation of the Affordable Care Act. (For more, see ACA Reshuffles the Deck.)
Based in St. Paul, Minnesota, 3M develops a wide variety of electronics, health care, safety, security, transportation, manufacturing, office and home products. It boasts a long history of dealmaking.
The health care division has been active in M&A in recent years. In 2014, the business unit picked up Treo Solutions, a specialist in data analytics for the health care industry. 3M's previous transactions include the purchase of Ceradyne Inc., which makes technical ceramics, for $860 million in 2012, and the acquisition of CodeRyte, a health care code processor, in 2012.