Acelity is reportedly considering an initial public offering that could fetch up to $1 billion as its private equity owners look to pay down debt.
Acelity, formerly Kinetic Concepts Inc., was acquired for $6.1 billion by Apax Partners and a pair of Canadian pension funds in a leveraged buyout in November 2011. The company makes wound care products.
The IPO proceeds would be used to pay down the $4.8 million in long-term debt Acelity is carrying, unnamed sources told the Wall Street Journal yesterday.
Acelity’s owners tapped J.P. Morgan Chase & Co., Goldman Sachs and Bank of America Merrill Lynch to lead the deal, the sources told the newspaper.
In October 2013, then-KCI paid $485 million to acquire Systagenix, the wound care business spun out of Johnson & Johnson (NYSE:JNJ) in 2008. The company united Systagenix, LifeCell and KCI under the Acelity brand in September 2013.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
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