Solventum is on track to expand its advanced wound care portfolio.
The American healthcare company has announced a definitive agreement to acquire Acera Surgical, a privately held bioscience company specializing in regenerative wound care, for $725 million in cash plus up to $125 million in milestone-based payments.
With this acquisition, Solventum aims to accelerate innovation in acute wound care, expand its market reach, and deliver enhanced solutions for patients, clinicians, and shareholders.
Founded in 2013, Acera has pioneered synthetic treatment options for soft tissue repair using its proprietary electrospinning technology. Its flagship Restrata products are already used in the US to treat complex, hard-to-heal wounds in acute care settings.
The acquisition positions Solventum to accelerate adoption of Acera’s products, leveraging its global footprint, specialized wound care sales team, and expertise in negative pressure wound therapy. Analysts expect the combination to generate operational synergies and strengthen Solventum’s leadership in advanced wound care.
“Regenerative wound care is a fast-growing, high-impact field,” said Bryan Hanson, CEO of Solventum. “Acera’s innovative technology meets a significant unmet need, and this acquisition expands our portfolio in synthetic tissue matrices. It allows our commercial team to offer more advanced solutions to doctors, nurses, and acute care decision-makers.”
Hanson called the deal “another bold step” in Solventum’s three-phase transformation plan, citing strong financial performance and a healthy balance sheet that enabled the company to pursue its first tuck-in acquisition and launch a share repurchase program simultaneously.
Acera is projected to generate around $90 million in sales in 2025. Financially, the acquisition is expected to be slightly dilutive to adjusted EPS in 2026, turning accretive in 2027. Solventum will fund the deal entirely with cash on hand, with no new debt or credit line usage, and anticipates closing in the first half of 2026, pending customary approvals.
Morgan Stanley serves as financial advisor to Solventum, with McDermott Will & Schulte LLP as legal counsel. Truist Securities advises Acera, supported by Hogan Lovells US LLP for legal matters.
