Navigation Links
Kinetic Concepts Shareholders Approve Acquisition by Apax Partners, CPPIB and PSP Investments
Date:10/28/2011

NEW YORK, Oct. 28, 2011 /PRNewswire/ -- A consortium comprised of investment funds advised by Apax Partners ("Apax"), together with controlled affiliates of Canada Pension Plan Investment Board ("CPPIB") and the Public Sector Pension Investment Board ("PSP Investments"), today announced that shareholders of Kinetic Concepts, Inc. (NYSE: KCI) have approved the consortium's acquisition of KCI for $68.50 per common share in cash, or a total value of approximately $6.3 billion, including KCI's outstanding debt.  It is expected that the acquisition will close in early November.

KCI is a U.S.-based medical device company focused on the design, manufacture, marketing and service of therapies and products for the wound care, tissue regeneration and therapeutic support system markets. 

In 2010, KCI reported revenues of $2.0 billion.  The company's products address a broad range of patient needs and are used by healthcare professionals around the world in a wide range of diverse care settings, such as acute care hospitals, long-term care and skilled nursing facilities, home health agencies and wound care clinics.

The consortium plans to work actively in partnership with the management of KCI to help expand the company's core businesses, invest in innovative new products and extend into new geographies where significant opportunities exist.

Buddy Gumina, Partner and co-head of the Apax Healthcare team, commented: "We are pleased to achieve this important milestone and look forward to closing the acquisition.  KCI is an excellent business and we believe it has great potential for further growth.  We look forward to working with management and our co-sponsors to drive the business forward."

Andre Bourbonnais, Senior Vice-President, Private Investments for CPPIB, said, "The outcome of today's vote is a significant step towards the closing of this transaction. 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 growth and long-term success."

Derek Murphy, First Vice President, Private Equity at PSP Investments, said: "We see a number of opportunities to grow the business and look forward to building on the company's outstanding reputation with our partners and the management and employees of KCI. We are proud to be associated with such an innovative company that has truly improved the lives of patients around the world."

Morgan Stanley & Co. LLC acted as financial advisor to the consortium.  Debt financing was secured from Morgan Stanley & Co. LLC, BofA Merrill Lynch and Credit Suisse AG.  Simpson Thacher & Bartlett LLP acted as legal advisor to the consortium.  Kirkland & Ellis LLP acted as legal advisor on the financing to the consortium.  Epstein Becker Green acted 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

Apax Partners is one of the world's leading private equity investment groups.  It operates across the United States, Europe and Asia and has more than 30 years of investing experience.  Funds under the advice of Apax Partners total over $40 billion around the world.  These Funds provide long-term equity financing to build and strengthen world-class companies.  Apax Partners Funds invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services.  For further information about Apax, please visit www.apax.com.

Apax Partners
Ben Harding / Georgiana Brunner
Tel: +44 (0)20 7872 6401 / 6429
Email: communications@apax.com

Todd Fogarty
Tel: +1 212 521 4854
Email: todd-fogarty@kekst.com

About Canada Pension Plan Investment Board

Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries.  In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments.  Headquartered in Toronto, with offices in London and Hong Kong, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments.  At June 30, 2011, the CPP Fund totaled $153.2 billion.  For more information about CPPIB, please visit www.cppib.ca.  

CPPIB
Linda Sims
Tel: +1 416 868 8695
Email: lsims@cppib.ca  

About PSP Investments

The Public Sector Pension Investment Board (PSP Investments) is a Canadian Crown corporation established to manage investments for the pension funds of the Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. PSP Investments manages a diversified global portfolio including stocks, bonds and other fixed-income securities, and investments in Private Equity, Real Estate, Infrastructure and Renewable Resources. As at March 31, 2011, assets under management totalled over $58 billion. For more information about PSP Investments, visit www.investpsp.ca.

PSP Investments
Mark Boutet
Tel: +1 514 925 5431
Email: mboutet@investpsp.ca

About KCI

Kinetic Concepts, Inc. (NYSE: KCI) is a leading global medical technology company devoted to the discovery, development, manufacture and marketing of innovative, high-technology therapies and products for the wound care, tissue regeneration and therapeutic support system markets.  Headquartered in San Antonio, Texas, KCI's success spans more than three decades and can be traced to a history deeply rooted in innovation and a passion for significantly improving the healing and the lives of patients around the world.  The company employs approximately 7,100 people and markets its products in more than 20 countries.  For more information about KCI and how its products are changing the practice of medicine, visit www.KCI1.com.

 


'/>"/>
SOURCE Apax Partners; PSP Investments; Canada Pension Plan Investment Board (CPPIB)
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. EMKinetics Announces Start of Pivotal Trial for the TranStim™ Transdermal Neuromodulation System
2. Apax Partners, CPPIB and PSP Investments to Acquire Kinetic Concepts, Inc. for $68.50 per Share
3. Kinetics Foundation and National Parkinson Foundation (NPF) Announce their Partnership to Evaluate Objective Parkinsons Disease Measurement System
4. Particle Sciences Develops Proprietary Nasal Delivery Formulation Used in Neurelis Recently Announced Successful Phase I Pharmacokinetic Study of NRL-01 (intranasal diazepam)
5. Neurelis Announces Positive Results from Phase 1 Pharmacokinetic Study of NRL-01 (intranasal diazepam)
6. ForteBio Introduces New Biosensor for Kinetic Analysis and Screening of Mouse IgG Antibodies
7. Neuro Kinetics Releases Updated Version of Neuro-Otologic Control and Analysis Software
8. Central European Society for Anticancer Drug Research Announces Start of Enrollment in First Randomized Trial of Pharmacokinetic-Guided Dose Adjustment of Paclitaxel in Non-Small Cell Lung Cancer
9. MAP Pharmaceuticals to Present Data From LEVADEX® Pharmacokinetics and Pharmacodynamics Safety Studies at the 63rd Annual Meeting of the American Academy of Neurology
10. Spaulding Clinical Welcomes Dr. Aziz Karim, Clinical Pharmacokinetic Consultant
11. New Model Provides Insights Into Intravenous and Subcutaneous Immunoglobulin Pharmacokinetics in Patients With Primary Immunodeficiencies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... SAO PAULO , Feb. 12, 2016 /PRNewswire/ ... has commenced a cash tender offer (the "Tender ... U.S.$312.6 million outstanding aggregate principal amount of its ... P5246AAF0 and ISIN Nos. US44915JAA88/ USP5246AAF05) (the "Notes"). ... also soliciting (the "Consent Solicitation") consents (the "Consents") ...
(Date:2/12/2016)... --  HeartWare International, Inc . (NASDAQ: HTWR ) ... its financial results for the three and 12 months ... at 8:00 a.m. ET.  The company plans to release ... webcast.  On the conference call and webcast, management will ... quarter and business outlook.   --> ...
(Date:2/12/2016)... , Feb. 12, 2016 On Thursday, Feb. ... Surgery at St. David,s North Austin Medical Center successfully ... ® Xi ® Surgical System with Trumpf ... Thiru Lakshman , M.D., colorectal surgeon at ... proctocolectomy utilizing Integrated Table Motion technology, which seamlessly combines ...
Breaking Medicine Technology:
(Date:2/12/2016)... ... February 12, 2016 , ... Mystic Buddha Publishing House presents Valentine’s Day tips ... biography of Rama - Dr. Frederick Lenz. , According to Publisher Roger ... Buddhist teacher for teaching and helping others. Valentine’s Day celebrates love in all ...
(Date:2/12/2016)... VA (PRWEB) , ... February 12, 2016 , ... CDRH Enforcement Trends: , Back to ... , As Winston Churchill said, “Those who don’t learn from history ... show what to expect when they come knocking this year. But that takes time. ...
(Date:2/12/2016)... California (PRWEB) , ... February 12, 2016 , ... Coco ... their participation in Red Carpet Events LA GRAMMY’s Style Lounge Event. Coco Libre will ... way to stay hydrated before the big event. The invitation-only gifting suite, held this ...
(Date:2/12/2016)... ... ... Every winter, someone is killed, injured or loses a home in an ... part of the Allegheny Health Network, has partnered with Etna Volunteer Fire Department, and ... campaign. , “Space Heaters Need Space” aims to bring awareness to the ...
(Date:2/12/2016)... ... , ... Vail knee specialist Robert LaPrade, MD, PhD was named ... list consists of physicians establishing, leading and partnering with ambulatory surgery centers across the ... Surgery Center, also known as an ASC, is a modern health care facility focused ...
Breaking Medicine News(10 mins):