The private equity owners of a trio of wound care and regenerative medicine companies said today that they’re merging Kinetic Concepts Inc., Systagenix and LifeCell into a single entity called Acelity.
"Coming together as a united company enables us to deliver on our vision of restoring people’s lives with a portfolio of complementary healing solutions. The combined knowledge of our team and global footprint allow us to continue advancing standards of patient care," president & CEO Joe Woody said in prepared remarks. "We are committed to our mission of developing a portfolio of solutions that speed healing, reduce complications and lead the industry in quality, safety and customer experience."
Acelity will run as 2 business units, according to a press release: Advanced wound therapeutics and regenerative medicine. But the KCI, Systagenix and LifeCell brands will persist as legal entities, operating as Acelity subsidiaries, according to the release.
"As Acelity, we want to be known worldwide for our ability to help heal wounds through solutions that address the critical unmet needs of clinicians, restore the well-being of their patients and help reduce the overall cost of patient care around the world," Woody added.
Plans for the reorganization were 1st announced in September 2013, following KCI’s $485 million acquisition of rival Systagenix. A consortium of private equity firm Apax Partners and a pair of Canadian pension funds took KCI private in a $6.3 billion deal back in 2011.
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