Kinetic Concepts
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Company type | Private company |
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Industry | Medical devices, Medical technology |
Founded | San Antonio, Texas, 1976 |
Headquarters | San Antonio, Texas , |
Key people | James R. Leininger (founder), Joseph F. Woody, President and CEO |
Products | Items related to negative pressure wound therapy and wound healing[1] |
Revenue | $1.6 billion ![]() |
$256.1 million ![]() | |
Number of employees | 5,000 (2013) |
Kinetic Concepts, Inc., (KCI) is a global corporation that produces medical technology related to wounds and wound healing. KCI produced the first product developed specifically for negative pressure wound therapy. As of 2013[update] the company employs 5,000 people and markets its products in more than 25 countries.[2] Its headquarters is in San Antonio, Texas. Currently, KCI, LifeCell and Systagenix operate under one global medical technology brand known as Acelity.
Operations
KCI is composed of three business units: Active Healing Solutions, LifeCell and Therapeutic Support Systems, that operate in the wound care, regenerative medicine and therapeutic support systems markets.[3][4] The largest of these business units is dedicated to wound care[5] primarily negative pressure wound therapy for the treatment of traumatic wounds, pressure ulcers, chronic wounds and diabetic ulcers[6] but also assistance with surgery.[7] The therapeutic support systems developed and supplied by KCI are largely for the treatment and prevention of complications associated with patient immobility.[8] These include support surfaces for hospital beds and home patients designed to address pulmonary complications in immobile patients. KCI also develops specialty beds for use in hospitals or in long-term care facilities.[9] KCI expanded into the regenerative medicine market in 2008.[3] Through subsidiary company LifeCell Corporation, KCI develops and supplies tissue-based products. These include tissue-based treatments used in surgical procedures to repair soft-tissue.[10]
Corporate history
KCI was founded in 1976 in San Antonio, Texas, by James R. Leininger, then an emergency room physician[11] who wanted to help prevent the pulmonary complications associated with immobility. Over time, the company developed or acquired a line of therapeutic specialty beds, introducing a specialty bed for acute care patients with pulmonary complications.[12] Initially KCI's product development focused on therapeutic beds and surfaces then expanded to introduce the first commercial negative pressure wound therapy products in the mid-1990s.[7][13] KCI acquired regenerative medicine company, LifeCell, in 2008[3] in a non-hostile transaction for US$1.7 billion.[14][15] In January 2012, LifeCell was made a sister company to KCI.
Financial information
From the founding of the company in 1976 to 1988, the revenue of KCI grew to US$153.2 million. The growth in revenue allowed KCI to go public and trade on the New York Stock Exchange (NYSE) in 1988.[16] KCI stock was traded on the NYSE until 1997, when the company went private. In February 2004, KCI became a publicly listed company for the second time and was listed on the NYSE under the ticker symbol KCI.[7][17] By the late 2000s the company's revenue was over $1 billion and reported an increase of 17 percent in 2007 to $1.61 billion.[18] Revenue for 2008 was $1.88 billion, increasing to $1.99 billion in 2009[19] and in 2010 increased to $2.02 billion.[20] On November 4, 2011, the company went private again at a price of $68.50 per share. KCI is owned by a consortium consisting of Apax Partners and controlled affiliates of the Canada Pension Plan Investment Board and Public Sector Pension Investment Board.
Product lines
- V.A.C. systems used for negative pressure wound therapy.[21]
See also
References
- ^ "Products". Acelity. Retrieved March 17, 2011.
- ^ "FDA clears new KCI abdominal wound-care product". San Antonio Business Journal. May 19, 2009. Retrieved January 25, 2011.
- ^ a b c "KCI earnings up during second quarter". San Antonio Business Journal. July 21, 2009. Retrieved January 25, 2011.
- ^ "Kinetic Concepts and Carroll Hospital Group form partnership". Datamonitor NewsWire. April 6, 2009.
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(help) - ^ "KCI Appoints Kien Nguyen Vice President of Global Marketing for Active Healing Solutions(TM)". Business Wire. April 21, 2010.
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(help) - ^ "Vacuum Assisted Closure Wound Therapy Cleared for Partial Thickness Burns". Reuters Health Medical News. January 27, 2003.
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(help) - ^ a b c Benesh, Peter (June 14, 2004). "Second IPO Helps Heal Old Wounds; Kinetic Concepts Inc.; San Antonio, Texas". Investor's Business Daily. p. A09.
- ^ "Kinetic Concepts Inc. Implements SolidWorks Software as Company-Wide Engineering Standard". Business Wire. March 6, 2000.
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(help) - ^ "Kinetic Concepts Acquires RIK Medical". PR Newswire. October 6, 1997.
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(help) - ^ "Kinetic Concepts now owns LifeCell Corp". Biomedical Materials: 5. July 1, 2008. ISSN 0955-7717.
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(help) - ^ "Kinetic Concepts Inc. Implements SolidWorks Software as Company-Wide Engineering Standard." Business Wire. March 6, 2000.
- ^ "Kinetic Concepts introduces TriaDyne, latest addition to line of therapeutic beds and surfaces". Business Wire. May 23, 1995.
- ^ "KCI Honors Dr. Louis Argenta With Research-Based Fellowship and Scholarship". Business Wire. October 12, 2009.
- ^ "KCI to Acquire LifeCell for $1.7 Billion in Cash Creating a Global Medical Technology Leader". Business Wire. April 7, 2008.
- ^ "Analyst questions Kinetic Concepts' purchase of LifeCell due to high price and low revenue". The Associated Press. April 8, 2008.
- ^ Blaker, Ashley (December 24, 1990). "Kinetic Expands Foreign Presence With Acquisitions". San Antonio Business Journal. Vol. 4, no. 49. p. 1.
- ^ Berko, Malcolm (August 3, 2007). "Wound-care developer is a healthy company". Copley News Service.
- ^ "KCI concludes 2007 on strong note". San Antonio Business Journal. January 29, 2008.
- ^ "Highlights KCI". MSN Money. MSN. January 2011. Retrieved January 25, 2011.
- ^ "Kinetic Concepts 4Q profit grows 12 percent". Bloomberg Business News. Associated Press. February 1, 2011. Retrieved February 4, 2011.
- ^ "KCI to Launch V.A.C.Via, an Advanced Mobile Healing Technology". Business Wire. April 26, 2010. Retrieved January 25, 2011.