KCI buys U.K.-based wound care company
SAN ANTONIO – Kinetic Concepts, Inc. (KCI) has signed a definitive agreement to acquire Systagenix, a provider of wound care products based in the U.K., for $485 million. The deal represents a major step in KCI’s strategy toward increased revenue diversification and geographic expansion, according to a press release. Systagenix’s products focus on moist wound healing dressings, including Promograin Prisma, a collagen dressing; Tielle (foam) and Adaptic (non-adherent contact layers). It distributes more than 20 million dressings each month to more than 100 countries. Formerly part of Johnson & Johnson, Systagenix has about 800 employees worldwide. Also as part of the deal, One Equity Partners will spin off an early stage diagnostics business from Systagenix and operate it as a standalone business. KCI will enter into a long-term strategic relationship with the business for the distribution of Woundcheck protease status.