Kinetic Concepts, a US-based medical technology company, has inked an agreement to acquire Systagenix, a UK-based firm that provides advanced wound care (AWC) products, for $485m.
The merger is expected to boost KCI’s position as wound care company in the international market.
KCI president and CEO Joe Woody noted that several of Systagenix’ products are complementary to the negative pressure wound therapy products made by KCI.
"This is a unique and exciting opportunity to bring together two leaders in the wound care field who share a common commitment to innovation and improving patient outcomes," Woody says.
In addition, the acquisition is considered as KCI’s initiative to boost its revenue and expand its geographical presence.
The transaction is expected to close in the fourth quarter of 2013.
This deal would provide KCI access to the $3.4bn AWC market, which is expected to grow by 3-5%.