Tuesday, July 30, 2013
KCI Buys Systagenix For $485M
San Antonio-based Kinetic Concepts, Inc., the developer of wound management products, said today that its in a deal to acquire UK-based Systagenix, a developer of advanced wound care products, for $485M. The San Antonio-based company said the buy will help augment its position in the wound care market. In a related transaction, Systagenix said it will spin off an early-stage diagnostics business out of Systagenix, funded by One Equity Partners. KCI was advised by Goldman, Sachs & Co. , BofA Merrill Lynch and Morgan Stanley in the deal, and it says it is using debt financing from BofA Merrill Lynch, Morgan Stanley and Goldman, Sachs & Co. to finance the deal. KCI's advisors are Simpson Thacher & Bartlett LLP and Kirkland & Ellis LLP, with Systagenix getting advice from Jones Day.