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Blum Capital enters into purchase agreement to buy Kinetic Concepts shares
By Lisa Kerner
Charlotte, N.C., Aug. 28 - Kinetic Concepts, Inc. shareholder Blum Capital Partners, LP and its affiliates entered into a plan on Aug. 27 with Merrill Lynch, Pierce, Fenner & Smith Inc. to purchase up to 3,500,000 shares of Kinetic Concepts' common stock under the requirements of the Securities and Exchange Commission's rule 10b5-1.
The plan will end on the earliest of:
• Aug. 27, 2008;
• The completion of all purchases contemplated by the plan;
• The plan no longer complies with rule 10b5-1 or other applicable securities laws; or
• The fund or Merrill Lynch has not complied with the plan, rule 10b5-1 or other applicable securities laws.
Blum owns 7,045,792 shares, or 9.8%, of the San Antonio, Texas, medical technology company, according to a schedule 13D filing with the Securities and Exchange Commission.
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