Sources: Kinetic receives higher buyout offer

Kinetic Concepts, which last month agreed to a $5 billion leveraged buyout, has received a higher takeover offer from ConvaTec, sources are saying. ConvaTec reportedly has letters supporting the bid from Goldman Sachs Group and Jefferies Group. London-based private equity firm Apex and two Canadian pension funds agreed July 12 to buy the wound-care company for about $6.5 billion, including assumed debt. San Antonio-based Kinetic also makes hospital beds and tissue-regeneration products used in surgeries. Story

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