3M Cos. (NYSE:MMM) announced it has entered into an agreement to buy disinfectant-products maker Ivera.
Ivera’s lead product, the Curos I.V. port-connector cap, is used to help prevent catheter-related blood-stream infections, or CRBSIs. 3M said the product will complement its Tegaderm line of antimicrobial I.V. securement dressings.
Financial terms of the deal were not disclosed.
3M said the merger will have a neutral impact on earnings for the first 12 months following the close of the transaction, which is expected during the first half of the year.
Based in San Diego, Calif., Ivera has annual sales of approximately $30 million and roughly 60 employees.
“Our products play an important role in helping to reduce complications for patients with I.V. catheters,” said Bill Cruise, general manager of 3M’s Critical & Chronic Care Solutions Division, in a statement. “Together with Ivera, we can bring a broader array of vascular access solutions to more health care systems worldwide.”
In 2013, Ivera sued healthcare products conglomerate Covidien for infringing upon three of its I.V. disinfection patents.