Gamco, Gabelli continue to invest in LifeCell

By Lisa Kerner

Charlotte, N.C., May 1 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC upped their stake in LifeCell Corp. to 8.04%, from 6.75% on April 21, with the purchase of 192,708 additional shares of the company's stock.

The shares were acquired between April 22 and April 30 priced from $50.50 to $50.75 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The investors beneficially own 2,751,244 shares of LifeCell.

On April 7, Kinetic Concepts, Inc. said it would acquire LifeCell in a deal valued at $1.7 billion.

Kinetic Concepts subsidiary Leopard Acquisition Sub, Inc. began a $51.00-per-share tender offer for all of LifeCell's common stock on April 21. The offer will expire at midnight ET on May 16 unless extended, according to a Kinetic Concepts news release.

Kinetic Concepts is a San Antonio medical technology company specializing in advanced wound care and therapeutic support systems.

LifeCell provides biological products for soft tissue repair, including its Alloderm regenerative tissue matrix for plastic reconstructive, general surgical, burn and periodontal procedures. The company is located in Branchburg, N.J.

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