KCI seeks global dominance
SAN ANTONIO – Kinetic Concepts Inc. (KCI) in September announced it merged forces with LifeCell, a maker of tissue repair products, to form a $2 billion company that can addresses the gamut of wound care.
KCI in October also closed on its acquisition of Systagenix and will integrate it into the combined company, according to a press release. KCI announced in August that it planned to acquire the U.K.-based provider of wound care dressings for $485 million.
“The combination of KCI, LifeCell and Systagenix will allow us to strengthen our customer relationships, while creating opportunities to cross-sell our products across the entire continuum of care—following the patient from the operating room to the home with a combined portfolio of best-in-class products and therapies,” stated President and CEO Joe Woody, who will lead the combined companies, in the release.
Phil Croxford will serve as senior vice president and permanent leader of LifeCell.
Since 2011, when it was acquired by London-based private equity firm Apax Partners, KCI has made several changes, including restructuring its workforce and selling Therapeutic Support Systems, its support surfaces business, to focus on, in particular, the negative pressure wound therapy market.