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.

It was reported last week that Blackstone ( BX) was in talks to buy Kinetic Concepts for about $5 billion.

-- Written by Joseph Woelfel

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