Wound care and regenerative medicine company Acelity registered for an initial public offering today that could raise as much as $1 billion, confirming rumors that 1st surfaced in June that its private equity owners are looking look to pay down debt. Acelity, formerly Kinetic Concepts Inc., was acquired for $6.1 billion by Apax Partners and a […]
Reva Medical snags ex-MDT’er Groves for CEO | Personnel Moves
Reva Medical (ASX:RVA) said last week it picked up ex-Medtronic (NYSE:MDT) divisional veep Regina Groves as its new CEO. Groves was vice president and GM of the atrial fibrillation solutions, cardiac rhythm and heart failure division at Medtronic. During her time there, she helped the company strategize a re-entry into the catheter-based atrial fibrillation ablation market, the […]
Acelity announced Q2 earnings, beats 2014
Wound care and regenerative medicine company Acelity reported its Q2 earnings this week, beating its revenue and sales marks the same quarter last year. The San Antonio, Texas-based company said it brought in $461.6 million this quarter, beating last year’s revenue by a meager 0.5%. The company significantly pared losses, bringing them down to $17.6 […]
Acelity wins VA contract for NPWT
Acelity said Wednesday it won a 5-year National Blanket Purchase Agreement with the Department of Veterans Affairs to supply it with negative pressure wound therapy supplies and devices. Through the deal, San Antonio, Texas-based Acelity will supply the VA with devices that help promote wound healing for acute and chronic wounds. “Deep wounds caused by […]
Appeals court overturns KCI win in whistleblower case
A federal appeals court this week overturned the dismissal of a lawsuit filed against Kinetic Concepts Inc. (now Acelity), in the process resetting the precedent used to establish standing in whistleblower lawsuits. The U.S. Court of Appeals for the 9th Circuit cut 1 of the 3 prongs for establishing a qui tam whistleblower case, ruling that whistleblowers […]
Report: Acelity mulls $1B IPO
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. […]
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