Kinetic Concepts gets tenders for more than 91% of LifeCell shares; subsequent offer ends Friday

By Lisa Kerner

Charlotte, N.C., May 19 - Kinetic Concepts, Inc. said approximately 31.25 million shares, or 91.3%, of LifeCell Corp. common stock were tendered in Kinetic Concepts' initial $51-per-share tender offer that ended May 16.

Leopard Acquisition Sub, Inc. accepted for purchase all shares that were validly tendered and not withdrawn during the offer, according to a Kinetic Concepts news release.

Kinetic Concepts began a subsequent offering period for the remaining shares of LifeCell that ends at 5 p.m. ET on May 23.

Following the merger, LifeCell's common stock will cease trading on the Nasdaq Global Market.

On April 7, Kinetic Concepts announced it would acquire LifeCell for $1.7 billion.

It was previously reported that following the acquisition, LifeCell will operate as a new global biosurgery division within Kinetic Concepts led by current LifeCell president Paul Thomas, who will also join Kinetic Concepts' executive committee.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.