Kinetic Concepts has inked a deal to buy LifeCell for $1.7 billion, a cash transaction that applies an 18 percent premium to the maker of tissue-based products. In the deal, LifeCell becomes a biosurgery division of Kinetic Concepts. LifeCell will remain in Branchburg, NJ.
"This combination allows us to accelerate our strategy to increase Kinetic's presence in the operating room and will leverage our broad global market reach to drive future growth of LifeCell's products," said Kinetic CEO Catherine Burzik in a statement.
- see the release
- read the AP report