Kinetic Concepts (KCI), LifeCell and Systagenix have agreed to merge their operations to form one globally diversified wound care, biologics and regenerative medicine company.
KCI and LifeCell will begin operating as one company with immediate effect under the leadership of KCI president and CEO Joe Woody, and LifeCell current commercial operations leader Phil Croxford has been appointed as senior vice president and the permanent leader of the company.
Upon acquiring of Systagenix by KCI, Systagenix will be integrated into the combined company. This acquisition is anticipated to complete in the fourth quarter of 2013.
KCI parent company and LifeCell board of directors chairman Buddy Gumina noted the combination of these businesses will form a leading medical technology company with over $2-bn in revenue and a very important position within the healthcare system.
"The new company, under the proven leadership of Joe Woody, will amplify existing capabilities, open the door for new growth opportunities and improve the lives of patients around the world," Gumina added.
Woody noted operating as one company will foster collaboration and increased innovation across platforms, leading to exciting new products that will address unmet clinical needs.
"The combination of KCI, LifeCell and Systagenix will allow us to strengthen our customer relationships, while creating opportunities to cross-sell our products across the entire continuum of care - following the patient from the operating room to the home with a combined portfolio of best-in-class products and therapies," Woody added.
KCI is a wound-care company, LifeCell is a developer of tissue repair products for the reconstructive, orthopedic and urogynecologic biosurgery markets, and Systagenix is a wound-care development company.
