Hospital bed maker Kinetic Concepts, San Antonio, was expected to generate $540 million in proceeds from an initial public offering of 18 million shares. The company's stock price rose to $40 per share by midmorning trading Wednesday on the New York Stock Exchange, from Monday's initial offering price of $30 per share. Kinetic Concepts makes advanced wound-care therapies and specialty hospital beds for obese patients. In 2002 the company won a federal antitrust lawsuit alleging that its chief competitor, Hill-Rom Co., tried to monopolize the market for specialty hospital beds. Under a settlement, Hill-Rom agreed to pay Kinetic $250 million. -- by Cinda Becker
Hospital bed maker Kinetic Concepts goes public
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