2013-09-30 08:22 PM
SAN ANTONIO--(BUSINESS WIRE)--Sep 30, 2013--The Board of Directors of the parent company of Kinetic Concepts, Inc. (KCI) and LifeCell Corporation (LifeCell) announced today that KCI, LifeCell and Systagenix will form one globally diversified wound care, biologics and regenerative medicine company under the leadership of President & CEO Joe Woody. Phil Croxford, the current commercial operations leader at LifeCell, has been appointed Senior Vice President and the permanent leader of LifeCell.
The combined company will be the global leader in transformational healing solutions, devoted to advancing the science of healing with superior products, innovative therapies and cost effective solutions that speed healing, reduce complications and improve patient lives. Each of the businesses will execute on this unified vision by leveraging shared competencies, portfolio expertise and existing sales channels.
As one of the top global medical technology companies, the combined company will remain the undisputed leader in negative pressure wound therapy, the number one provider of regenerative tissue products used for breast reconstruction and hernia repair and a market leader in advanced wound care. KCI, LifeCell and Systagenix will be poised for future success as a strategically diversified global company, with established commercial scale and a world-class wound care and biologics portfolio.
"The combination of these businesses will form a leading medical technology company with over $2 billion in revenue and a very important position within the healthcare system," said Buddy Gumina, chairman of the Board of Directors of the parent company of KCI and LifeCell. "The new company, under the proven leadership of Joe Woody, will amplify existing capabilities, open the door for new growth opportunities and improve the lives of patients around the world."
"Operating as one company will foster collaboration and increased innovation across platforms, leading to exciting new products that will address unmet clinical needs," said Joe Woody, president & CEO. "The combination of KCI, LifeCell and Systagenix will allow us to strengthen our customer relationships, while creating opportunities to cross-sell our products across the entire continuum of care ?V following the patient from the operating room to the home with a combined portfolio of best-in-class products and therapies."
KCI and LifeCell will begin operating as one company immediately under the leadership of President & CEO Joe Woody. Systagenix will be integrated into the combined company upon closing of KCI's acquisition of Systagenix, which is expected to occur in the fourth quarter of 2013.
KCI is a leading global medical technology company devoted to understanding, developing and commercializing innovative, high-technology transformational healing solutions for customers and patients in more than 65 countries around the world. Headquartered in San Antonio, Texas, KCI is committed to advancing the science of healing and positively impacting patient care by developing customer-driven innovations to meet the evolving needs of healthcare professionals. Proprietary KCI negative pressure technologies have revolutionized the way in which caregivers treat a wide variety of wound types. The V.A.C. R Therapy System has been used on more than 7 million wounds worldwide. Additional information about KCI and its products is available at www.KCI1.com.
LifeCell Corporation, based in Bridgewater, NJ, is a leader in regenerative medicine, develops and markets innovative tissue repair products for the reconstructive, orthopedic and urogynecologic biosurgery markets. LifeCell? products include Strattice? Reconstructive Tissue Matrix and AlloDermR Regenerative Tissue Matrix for plastic, reconstructive, and general surgical applications; Cymetra R Regenerative Tissue Matrix, a particulate form of AlloDerm R Tissue Matrix suitable for injection; Repliform R Regenerative Tissue Matrix for urogynecologic surgical procedures; Graftjacket R and Conexa? for orthopedic surgical procedures; and the SPY R Elite System for the visualization and evaluation of tissue perfusion. Additional information about LifeCell and its products is available at www.LifeCell.com.
Systagenix is a global leader in innovative wound care established in 2008 following the acquisition of Johnson & Johnson's professional wound care business by One Equity Partners. Systagenix is 100% dedicated to wound care, developing and marketing advanced wound diagnostic and therapeutic solutions and supplying over 20 million advanced wound dressings per month globally. Systagenix' longstanding commitment to skin and wound care began with innovative wound care treatments developed by the experienced team of R&D Scientists at the Gargrave Centre of Excellence for Wound Healing in North Yorkshire, England. With approximately 800 employees worldwide, Systagenix distributes products and services to more than 100 countries.
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CONTACT: KCI Corporate Communications
Mike Barger, +1-210-255-6824
KCI Investor Relations
Nathan Speicher, +1-210-255-6027
KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY TEXAS
INDUSTRY KEYWORD: HEALTH MEDICAL DEVICES PHARMACEUTICAL
SOURCE: Kinetic Concepts, Inc.
Copyright Business Wire 2013
PUB: 09/30/2013 08:00 AM/DISC: 09/30/2013 08:00 AM