Kinetic Concepts completed another round of layoffs, The San Antonio Express-News reports, slashing 300 jobs and bringing its total cuts to 427 so far this year.
The wound-care-device company is mostly cutting from its sales staff, a spokesman said, and the goal is to streamline the company's operations to make it more attractive to a buyer or, eventually, take the company public again. "Our new structure, and the ability to be more responsive and nimble, will give KCI a competitive advantage in the marketplace well into the future," spokesman Mike Barger told the Express-News.
The company is still settling into its new identity as a privately held company. Last year, the company was bought for $6.3 billion by Apax Partners and two Canadian pension funds. Since then, Kinetic Concepts has installed ex-St. Jude Medical ($STJ) CEO Ronald Matricaria to head the company, and the company has been working to get more efficient ever since.
KCI announced 127 layoffs in February and announced that it would pursue "strategic alternatives" for its therapeutic support systems unit, which markets hospital beds, patient-mobility devices and other clinical techs.
- read the Express-News story