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.
Princeton, N.J.-based Derma Sciences reported losses of $7.3 million, or 43¢ per share, on sales of $18.1 million for the 3 months ended June 30. Losses grew 59.8% despite a 3.1% top-line gain, compared with Q2 2012.
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.
Wound care company Soluble Systems wrapped up a $3.5 million private equity funding round, raising most of the cash from existing company insiders, board members and executives.
Of the total 57 investors, only 10 are 1st-timers and the remaining are current stakeholders who chose to up the ante in the most recent round. None of the new cash came from venture capital firms, the company told MassDevice.com.
Wound dressing device maker Alliqua closed a $3 million equity financing round, largely backed by an insider group of board members and executives.
Alliqua drummed up the cash over the course of 3 months through sale of common stock, according to a company statement. Accredited investors paid 81¢ per share for equity, coupled with a warrant to purchase an additional share at 97¢ apiece.
Combat Medical Systems won FDA approval for its atypical tourniquet, designed to prevent deaths from uncontrolled bleeding that most often takes place because of roadside and terrorist bombings.
This is the 1st device of its kind approved to treat unmanageable amputations and pelvic injuries, and it has already been shown to save lives based on limited use on soldiers in Afghanistan and traumatic civilian situations domestically, the company said. Uncontrolled bleeding is the number 1 cause of death in combat.