Just weeks after the $485 million merger of Kinetic Concepts and Systagenix, the duo plans to merge forces with LifeCell Corp., forming a 3-headed hydra of wound care, biologics and regenerative therapies.
The new company will be run by KCI president & CEO Joe Woody, with LifeCell commercial operations chief Phil Croxford as senior vice president and "permanent leader" of LifeCell, according to a joint statement.
"The combination of these businesses will form a leading medical technology company with over $2 billion in revenue and a very important position within the healthcare system," LifeCell/KCI board chairman Buddy Gumina said in prepared remarks.
LifeCell and Kinetic Concepts plan to begin immediately operating as a single unit, with Systagenix joining the mix officially in the 4th quarter of 2013.
The companies plan to share competencies, portfolio expertise and sales channels to corner markets in negative pressure wound therapy, regenerative tissue products for breast reconstruction and hernia repair and advanced wound therapy, according to a company statement.
Earlier this year KCI acquired Systagenix for $485 million, calling the move a strategic investment in diversifying the company’s wound care portfolio.
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