Kinetic Concepts Inc. will make $280 million in payments over three years to Wake Forest University Health Services in a legal settlement.
Julie Davis is now the Vice President of Customer Relations at American HealthTech, the firm announced. In this role, she will report to President and CEO Teresa Chase. Davis has previously worked for Kinetic Concepts, as well as Procter and Gamble.
Kinetic Concepts Inc. has agreed to a $5 billion cash buyout from a consortium that includes Apax Partners and two leading Canadian pension funds. KCI makes medical devices and other wound care products. KCI was a particularly attractive target for private equity, according to analysts, because it commands a stable cash flow but it has had growth challenges. The transaction is the biggest leveraged buyout since the collapse of Lehman Brothers Holdings Inc.
Kinetic Concepts has agreed to be acquired by the private equity group Apax Partners LLP for $4.98 billion in cash. The deal is the largest leveraged buyout since Lehman Brothers filed for bankruptcy at the start of the recession, Bloomberg News reported. Assumed debt will add about $1.3 billion to the KCI price tag.