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Apax Partners, CPPIB and PSP Investments to Acquire Kinetic Concepts, Inc. for $68.50 per Share
Date:7/13/2011

nd the markets in which the company operates.  We are delighted to have the opportunity to partner with CPPIB and PSP Investments to support the company's continued growth."

Andre Bourbonnais, Senior Vice-President, Private Investments for CPPIB, said, "KCI is the market leader in its businesses with strong growth potential particularly outside of the core U.S. market.  KCI's business is well positioned for growth based on global trends such as demographics, including longevity and an aging population.  Together with KCI's management, Apax and PSP Investments, we look forward to building upon KCI's leading market shares and positioning the company for continued long-term success."

Derek Murphy, First Vice President, Private Equity at PSP Investments, said: "This is an attractive opportunity to acquire a global market leader offering stable core revenues and significant growth opportunities through new products and geographic expansion.  Apax brings significant expertise in the healthcare sector, while CPPIB is a like-minded investor with a long-term investment horizon."

The transaction is subject to shareholder and regulatory approvals and other customary conditions.  It is currently expected that the acquisition will close in the second half of 2011.

Morgan Stanley & Co. LLC is acting as financial advisor to the consortium.  The consortium has secured committed debt financing from Morgan Stanley & Co. LLC, BofA Merrill Lynch and Credit Suisse AG.  Simpson Thacher & Bartlett LLP is acting as legal advisor to the consortium.  Kirkland & Ellis LLP is acting as legal advisor on the financing to the consortium.  Epstein Becker is acting as healthcare regulatory counsel to the consortium.  CPPIB was also separately advised by Torys LLP.  PSP Investments was also separately advised by Weil, Gotshal & Manges LLP.

About Apax Partners'/>"/>

SOURCE Apax Partners; PSP Investments; Canada Pension Plan Investment Board (CPPIB)
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