Nothing but negotiation

The Gap Partnership

Merger and acquisitions advisor to be used by KCI

Medical firm Kinetic Concepts is to be taken over by a consortium.

14 July 2011

A consortium headed by private equity firm Apax Partners has acquired Kinetic Concepts (KCI) after business negotiations were completed.

The deal is valued at $6.3 billion (£3.9 billion) and will include taking on KCI's outstanding debts.

As a result, the agreement has been unanimously endorsed by the board of directors, which means if the shareholders accept then the sales negotiations will be complete.

Cathy Burzik, KCI president, noted the consortium that has made the offer is made up of "well-respected investors".

"We're proud of what we've achieved in the marketplace and will continue making the right investments in people, product innovation and commercial capabilities that help the medical community," she added.

Buddy Gumina, partner and co-head of the Apax Healthcare team, observed his company were impressed by what they saw with KCI, especially in its attitude to innovation.

One of the main facets to its business model is regenerative medicine, which looks to improve tissue restoration.

Posted by Edel Quinn

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