Tag: Kinetic concepts
KCI still without contracts
August 19, 2016Theresa Flaherty, Managing Editor
SAN ANTONIO - Acelity—formerly Kinetic Concepts—has contracted with suppliers to provide negative pressure wound therapy products, while it continues fighting for its own contract, company execs say.In an earnings call Aug. 2, CEO Joe Woody said the company has contracted with suppliers in 116 of the 117 Round 2 re-compete bid areas to provide continued access to its products.“In the medium and long term, we will remain in discussions with CMS regarding our reinstatement as a direct...
KCI seeks global dominance
November 22, 2013HME News Staff
SAN ANTONIO - Kinetic Concepts Inc. (KCI) in September announced it merged forces with LifeCell, a maker of tissue repair products, to form a $2 billion company that can addresses the gamut of wound care.KCI in October also closed on its acquisition of Systagenix and will integrate it into the combined company, according to a press release. KCI announced in August that it planned to acquire the U.K.-based provider of wound care dressings for $485 million. “The combination of KCI, LifeCell...
KCI's third quarter revenues slip
November 14, 2013HME News Staff
SAN ANTONIO, Texas - Kinetic Concepts Inc. (KCI) has reported a drop in third-quarter revenues: $320.9 million in 2013 vs. $329.7 million in 2012, a 2.7% decrease. The company said the decline stems from Round 2 of competitive bidding. KCI products that fall under the program's umbrella saw a 42% price reduction. “KCI would have reported positive revenue growth in the third quarter, exclusive of this one item,” stated CFO Robert Hureau.
Studies: V.A.C. VeraFlo speeds wound healing
November 12, 2013HME News Staff
SAN ANTONIO, Texas - Studies presented at two recent conferences show Kinetic Concepts' V.A.C. VeraFlo Installation Therapy reduces the length of hospital stays, speeds wound closure and reduces debridement costs when compared to traditional V.A.C. therapy, the company announced Nov. 11. “This is one of those things that comes along every decade or so that literally radically changes the way you treat your patients,” stated study presenter Paul Kim, associate professor and research director...
KCI buys U.K.-based wound care company
August 6, 2013HME News Staff
SAN ANTONIO - Kinetic Concepts, Inc. (KCI) has signed a definitive agreement to acquire Systagenix, a provider of wound care products based in the U.K., for $485 million. The deal represents a major step in KCI's strategy toward increased revenue diversification and geographic expansion, according to a press release. Systagenix's products focus on moist wound healing dressings, including Promograin Prisma, a collagen dressing; Tielle (foam) and Adaptic (non-adherent contact layers). It distributes...
KCI gets out of bed business
September 25, 2012Theresa Flaherty, Managing Editor
SAN ANTONIO - Getinge AB, a player in the European support surfaces market, is positioning itself to become a major player on this side of the Atlantic with its acquisition of Kinetic Concept, Inc.'s (KCI) support surfaces business.
The Sweden-based Getinge in August agreed to buy Therapeutic Support Systems (TSS) from KCI for $275 million.
“TSS is very strong in North America, with 60% of its revenues coming from the U.S. market,” Johan Malmquist, CEO of Getinge Group, said...
KCI sells bed business
August 17, 2012HME News Staff
SAN ANTONIO - Kinetic Concepts, Inc. (KCI) announced Aug. 15 that it has made good on its plan to offload its hospital bed business, selling it for $275 million to Swedish company Getinge AB.
As part of the deal, Getinge, a player in the ulcer prevention market in Europe, will offer jobs to employees of KCI's Therapeutic Support Systems (TSS) business, according to a press release. TSS provides hospital beds, mattress replacement systems and other support surfaces, and generated revenues of...
Study: Worldwide wound care market poised for major growth
August 26, 2010HME News Staff
NEW YORK CITY - Here's some potential big news for wound care providers: The worldwide demand for these products is expected to grow by about 6% for the next few years, according to "World Wound Care Markets 2010" by Kalorama, a market research company.
What's driving that growth? The need to cut healthcare costs by moving patients out of hospitals faster.
"Many of these new products are proven cost-savers," said Mary Ann Crandall, analyst for Kalorama Information and author of the report....