Solventum has begun an agreement to acquire Acera Surgical, a privately-held bioscience company that specializes in engineered materials for regenerative wound care. The deal is valued at $725 million in cash plus up to $125 million in contingent payments based on achievement of certain future milestones.

Acera was founded in 2013 and has developed and sold synthetic treatment options for soft tissue repair using its electrospinning technology platform. The company’s Restrata products are available in the U.S. and used to treat hard-to-heal, complex wounds in acute care environments.

The company’s innovation engine and commercial footprint align with Solventum’s expertise in advanced wound care, its clinical relationships, and go-to-market capabilities, Solventum said. The combination is anticipated to speed adoption of Restrata products in the acute care market and leverage Solventum’s global footprint, specialized wound care sales force, and expertise in negative pressure wound therapy.

“Regenerative wound care is an exciting and fast-growing space, and Acera has innovative technology to meet a significant unmet need in acute wound care,” said Bryan Hanson, CEO of Solventum. “Expanding our advanced wound care portfolio into the high-growth synthetic tissue matrices category complements solutions within our existing portfolio and enhances the options our specialized commercial team can provide doctors, nurses, and decision makers within acute care settings.

Acera is expected to collect about $90 million in sales this year. The transaction is expected to be slightly dilutive to adjusted earnings per share (EPS) in 2026 and accretive to adjusted EPS starting in 2027.

The deal is expected to be completed in the first half of 2026.

“This is another bold step in our three-phased transformation plan,” Hanson continued. “Our strong financial performance and the strength of our balance sheet have enabled us to move quickly with our first tuck-in acquisition and the announcement of our first share repurchase program. With Solventum’s broad market presence, depth of clinical partnerships and commitment to advancing healthcare, we are confident this acquisition will create significant value for patients, clinicians and shareholders.”