KCI to sell off therapeutic support systems unit to Getinge
16 August 2012 15:51 in Medical Company Restructures
KCI has announced the sale of its therapeutic support systems (TSS) business unit to Getinge for $275 million (174.81 million pounds).
Comprising a comprehensive portfolio of specialty therapeutic beds, mattress replacement systems and other support surfaces and patient mobility devices for wound care, bariatric and critical care settings, the division is being sold off following a strategic review by KCI that commenced in January 2012.
KCI will assist Getinge during the transition period to ensure it proceeds as smoothly as possible, while the new owner will also be offering employment to the TSS division's present staff.
This sale will allow KCI to increase its focus on core operations and the realisation of its long-term vision.
Joe Woody, president and chief executive officer of KCI, said: "Getinge has an established history of acquiring and growing proven leaders in the healthcare industry such as TSS, and will continue to drive that portfolio for the benefit of customers and patients."
Last month, the company announced the appointment of Mike Matthews as senior vice-president of its international business, with responsibility for EMEA, Asia-Pacific and emerging market operations.
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Story collated for Zenopa by the Adfero News Agency