Kinetic Concepts Shares Rise In Pre-Market On Acquisition News

Kinetic Concepts Inc

agreed to be bought for $6.3 billion by a consortium of private equity firm Apax Partners, as well as affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board. The consortium is paying $68.50 per share in cash for the company, representing a 6.2% premium to Tuesday's closing price. Kinetic Concepts' board has unanimously approved the transaction. KCI shares gained 4.51% to $67.40 in pre-market trading.