3M (NYSE:MMM) said today that it agreed to pay more than $6.7 billion to acquire wound care giant Acelity, including its debts, from the private equity consortium that took KCI private for $6.3 billion back in 2011. San Antonio, Texas-based Acelity, which registered for an initial public offering last month, was formed after Apax Partners and […]
Acelity’s KCI inks NPWT remote monitoring deal with insurer Highmark
Acelity subsidiary KCI said this week that it inked a negative pressure wound therapy remote monitoring deal, using its iOn Progress remote therapy monitoring program, with health insurer Highmark, touting it as the first such agreement of its kind. The San Antonio-based company’s KCI iOn monitoring program is intended for use with the ACTIV.A.C therapy system, and […]
Judge slaps lawyers with $1.4m in fines over $645m KCI trade theft case
A federal judge this week slapped lawyers representing Healthcare Essentials in a trade theft lawsuit brought by Acelity subsidiary Kinetic Concepts Inc. with some $1.4 million in fines for their part in the case. Earlier this month KCI was awarded $645 million in damages after winning the suit. KCI accused Healthcare Essentials of stealing its VAC negative pressure wound […]
Acelity’s KCI wins $645m in trade theft suit
Acelity subsidiary Kinetic Concepts Inc was awarded $645 million in trebled damages in a suit against Healthcare Essentials in which KCI alleged that the company stole its VAC negative pressure wound therapy technology, rebranded it and sold it as its own, according to recently released court documents. US District Judge Benita Pearson said that defendants in the case, […]
Progenerative Medical licenses KCI’s tissue regeneration tech
UPDATED Sept. 19, 2016, with comment from Acelity. Progenerative Medical said this week that it inked an exclusive licensing agreement with Acelity subsidiary Kinetic Concepts Inc. for a negative-pressure technology portfolio it aims to develop for spine and general orthopedic procedures. The announcement is a long time coming for CEO James Poser, who worked at KCI […]
Ex-trader loses bid to dismiss insider trading case
Sean Stewart, a former executive with JP Morgan and Perella Weinberg Partners who is accused of insider trading based on his work on several medical device transactions, lost his bid to have criminal charges dismissed from a federal court in New York. Federal prosecutors in May 2015 charged Stewart, his father Robert Stewart and a 3rd […]
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 […]
ConMed ripe for M&A | The week in medtech M&A
Analyst: ConMed ripe for M&A spree May 19, 2015 by Fink Densford ConMed, in the middle of an under-appreciated turnaround, could be poised to augment its growth via selective acquisitions, according to Leerink Partners analyst Richard Newitter. Newitter, who upgraded CNMD shares to “outperform” and boosted the price target to $64 from $60, wrote in […]
Feds charge ex-JP Morgan exec, father in medtech insider trading scheme
Federal prosecutors in New York this week charged a father-and-son team with insider trading connected with a spate of mergers in the medical device arena.
Failure of Medtronic’s Symplicity-3 trial doesn’t mean the end of renal denervation for hypertension | Medtech Wall Street news for the week of September 1, 2014
Private equity owners rebrand KCI, Systagenix, LifeCell as Acelity
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.
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