Kinetic Concepts begins $51-per-share tender offer for LifeCell

By Lisa Kerner

Charlotte, N.C., April 21 - Kinetic Concepts, Inc. said its subsidiary, Leopard Acquisition Sub, Inc., began a $51-per-share tender offer for all of LifeCell Corp.'s common stock.

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

The tender offer is scheduled to expire at midnight ET on May 16, unless extended, according to a Kinetic Concepts news release.

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.

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