Summary Box: Kinetic Concepts accepts $4.98B bid

AP News
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Posted: Jul 13, 2011 10:45 AM
Summary Box: Kinetic Concepts accepts $4.98B bid

THE PRICE: Wound care products maker Kinetic Concepts Inc. agreed to sell itself to a private consortium in a deal that values the company at $68.50 per share, or $4.98 billion. The deal also includes $1.3 billion in debt.

THE BUYERS: The acquirers are private equity firm Apax Partners and two investment groups: the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.

THE MOVE: Shares of the San Antonio company jumped last week on reports it was in talks with a private equity firm about a sale.