Kinetic Concepts Deal Falls Apart

An attempt by private equity-backed ConvaTec to buy U.S. wound-care firm Kinetic Concepts has collapsed, Reuters reported Friday, citing a report in Dagens Industri. The deal reportedly fell apart when a pharmaceutical firm that had agreed to buy one of Kinetic's daughter companies as part of the deal pulled out. In August, sources told Reuters that Kinetic Concepts had received a takeover bid from ConvaTec, which is owned by Nordic Capital and Avista Capital Partners LLC.

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