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Kinetic Concepts accepts offer worth $4.98B
Kinetic Concepts agrees to be acquired by private consortium for $4.98B, or $68.50 per share
By The Associated Press

NEW YORK (AP) ' Wound care product maker Kinetic Concepts Inc. says it agreed to be acquired by a private equity firm and two investment groups in a deal that values the company at $4.98 billion, or $68.50 per share.

The San Antonio company says it accepted the offer from Apax Partners, the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board. The deal is worth $6.3 billion including debt.

Kinetic Concepts' board approved the deal and recommended stockholders tender their shares in the offer. The company has 40 days to seek competing offers.

Speculation over a buyout has driven up the company's stock in the past week. Shares closed at $64.49 Tuesday.

Kinetic Concepts makes products that treat wounds using low pressure to speed healing and other tissue-repair products.

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