$5B acquisition of Kinetic Concepts completed

$5 billion acquisition of Kinetic Concepts by consortium is completed

Associated Press

NEW YORK (AP) -- Kinetic Concepts Inc. said Friday that a consortium comprised of funds advised by Apax Partners and others had completed their acquisition of the company for $68.50 a share, or $4.98 billion.

The Apax funds, Canada Pension Plan Investment Board and Public Sector Pension Investment Board won approval from Kinetic shareholders last week to buy the San Antonio-based medical technology company and take it private.

The consortium said it plans to work in partnership with management to further invest in the global medical products sector and take advantage of new opportunities.

The company has about 7,100 employees and sells products in more than 20 countries.

View Comments (0)