3M Co. reported it has finalized an agreement to acquire Acelity Inc. and its KCI (Kinetic Concepts Inc.) subsidiaries from an investor group for $4.3 billion. In addition, 3M will assume approximately $2.4 billion of Acelity's debt. The $6.7 billion total transaction represents the largest deal in the St. Paul, Minn.-based company's history. The acquisition of the wound care company bolsters 3M's medical solutions business, one of the most profitable segments of the struggling conglomerate's portfolio.

Kerastem Technologies LLC reported that the U.S. FDA accepted its 12-month phase II study and the company plans to begin a phase III study of its cell therapy-based hair regrowth system in early 2020 with an as-yet-unidentified distribution partner. Kerastem is a subsidiary of privately held Bimini Technologies LLC, of Solana Beach, Calif.