Kinetic Concepts Completes Acquisition of Systagenix San Antonio, Texas-based Kinetic Concepts In

Kinetic Concepts Completes Acquisition of Systagenix
San Antonio, Texas-based Kinetic Concepts Inc. (KCI) has completed a $485 million acquisition of Systagenix Wound Management Ltd., an advanced wound care product company headquartered in England. With the recent acquisition of Bridgewater, N,J.-based LifeCell Corporation, which specializes in skin and tissue regeneration, KCI has now built a large advanced wound care company with a global presence. Together, KCI, Systagenix and LifeCell now form one company with more than $2 billion in revenue.

“The successful completion of the Systagenix acquisition marks an important milestone in the advancement of our long-term strategy as the global leader in transformational healing solutions,” said Joe Woody, president and CEO of KCI. “Together, KCI, Systagenix and LifeCell will deliver customer-focused innovations and realize new possibilities beyond that which we could have achieved as a stand-alone organization.”

In connection with the acquisition, KCI appointed Peter Huntley as senior vice president and leader of Systagenix going forward, reporting to Woody. Huntley has more than 15 years of experience in the healthcare industry and most recently was CEO of Corin Group plc, where he returned its orthopedics business to growth. Prior to Corin, Peter was a member of the executive committee at Smith and Nephew plc for 10 years, holding several roles including group director, strategy and business development, and later group director, indirect markets, where he was responsible for sales and marketing of the orthopedic reconstruction, orthopedic trauma, endoscopy and wound management portfolios. Ernest Waaser, departing CEO of Systagenix, will remain with the company for the next few months to support the integration efforts.

“He [Huntley] has extensive global leadership experience and a track record of commercial success in the industry, which will add tremendous value as we combine KCI, Systagenix and LifeCell into a single company,” Woody said. “I would also like to thank Ernest Waaser for his leadership of Systagenix.”

“This is an incredible opportunity and I am excited to lead the Systagenix team and to continue to build on the franchise’s brand and product offerings,” Huntley said in prepared remarks. “I also look forward to collaborating with my new colleagues to drive growth and customer value across the combined company.”