Private equity firm Avista Healthcare Public Acquisition Corp. yesterday approved its merger with regenerative medicine company Organogenesis. The merger won approval yesterday at separate special meetings of shareholders for both companies, Canton, Mass.-based Organogenesis said. As part of the deal, Avista invested a total of $92 million in the combined company, Organogenesis said. Avista also […]
ConvaTec said today that it plans to raise about $1.8 billion in an initial public offering on the London Stock Exchange in the largest U.K. flotation this year, even as Great Britain prepares to exit the European Union. The Danish wound dressing and colostomy supply maker, which is owned by private equity firms Avista Capital Partners and Nordic Capital, […]
The bidding war for Kinetic Concepts Inc. (NYSE:KCI) is over, after a competing offer by rival ConvaTec collapsed after a key financing prop was removed.
KCI agreed in July to a $6.3 billion offer from private equity buyer Apax Partners. In August ConvaTec, which is backed by Nordic Capital Partners and Avista Capital Partners, made an 11th-hour play.
Kinetic Concepts Inc. (NYSE:KCI) is likely to spurn a $6.3 billion offer from rival ConvaTec unless that firm can guarantee financial backing, according to “people familiar with the matter” quoted in the Wall Street Journal.
Apax Partners may have a rival for its sweetheart, Kinetic Concepts Inc. (NYSE:KCI), after news broke that KCI rival ConvaTec Inc. trumped the private equity player’s $6.3 billion bid for the wound care giant.
The news sent KCI shares up more than 2 percent overnight, after a Bloomberg report yesterday that ConvaTec, owned by PE firms Nordic Capital and Avista Capital Partners LLC, topped Apax’s $68.50-per-share offer.