Kinetic Concepts To Be Bought for $6.3B
SAN ANTONIO ( TheStreet) -- Kinetic Concepts (KCI) said Wednesday it agreed to be acquired by funds advised by Apax Partners, and affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board, for $68.50 a share in cash, or $6.3 billion including debt.
Shares of Kinetic Concepts, a provider of hospital beds, closed Tuesday at $64.49.
The acquisition price, the parties said in a press release Wednesday, is a premium of about 21% to the one-month historical average stock price of $56.49 through July 5, a day before reports surfaced of a deal for Kinetic Concepts.
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