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Diversified manufacturer 3M (NYSE: MMM), St. Paul, MN, has agreed to acquire Arizant Inc., Eden Prairie, MN. 3M will buy the manufacturer of patient warming solutions designed to prevent hypothermia in surgical settings for $810 million in cash.
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"Patient warming is a highly strategic adjacency for our business and integral to infection prevention," said Debra Rectenwald, president and general manager, 3M Infection Prevention Division. "In addition to Arizant’s market-leading products, its rich intellectual property portfolio and solid technology platforms expand 3M’s infection prevention offerings and will help to drive growth internationally, as well as provide a platform of innovative wound care technologies."
Arizant employs 375 people in the U.S., UK, Germany, France, Spain, Austria, Belgium and Japan. Sales for 2010 are expected to be approximately $200 million.