Gero, a member of the orthopedic medical device company’s board since 1998, was named chairman in 2005. He’ll continue as a consultant to the board until 2015, according to a press release.
Kinetic Concepts Inc. said it’s closed the $485 million buyout of fellow privately owned wound-care company Systagenix, which it plans to unite with its LifeCell regenerative therapies unit.
Just weeks after the $485 million merger of Kinetic Concepts and Systagenix, the duo plans to merge forces with LifeCell Corp., forming a 3-headed hydra of wound care, biologics and regenerative therapies.
The new company will be run by KCI president & CEO Joe Woody, with LifeCell commercial operations chief Phil Croxford as senior vice president and "permanent leader" of LifeCell, according to a joint statement.
By Catherine Burzik
The Centers for Medicare & Medicaid Services recently implemented the 2nd round of its so-called "competitive bidding" process, a system devised by Medicare to award supply contracts to providers of medical devices and products to patients in their homes.
Operating profits rose 13.1% during the 2nd quarter for Kinetic Concepts Inc., despite a nearly 4% sales decline for the wound management company.
San Antonio, Texas-based KCI reported operating profits of $110.8 million on sales of $317.8 million for the 3 months ended June 30, according to a regulatory filing.
Kinetic Concepts Inc. said it agreed to acquire 1 of its private wound-care peers, Systagenix, for $485 million.
San Antonio, Texas-based KCI said the deal brings a large suite of complementary advanced wound care products into its portfolio.
The 2011 marriage between Kinetic Concepts Inc., Apax Partners and a pair of Canadian pension funds wasn’t your typical merger.
Nearly 300 of the industry’s best and brightest gathered for a night of big ideas, industry insights and few cocktails last night at MassDevice.com’s Big 100 East 2013 conference in Waltham, Mass.
For much of her career, former Kinetic Concepts CEO Catherine Burzik has had on her desk a plaque that reads, "Women must work twice as hard as men to be thought of half as good. Luckily, this is not difficult," she told an audience at MassDevice.com’s Big 100 East 2013 conference in Waltham, Mass., last night.