The TSS business reported $247 million in revenue in 2011 and employs 1,300 people. Its products are used in therapeutic wound care, bariatric care and critical-care settings.
“The acquisition of TSS provides an optimal extension of Getinge’s extended care business, boosting the competencies of our operations,” Johan Malmquist, Getinge Group’s CEO, said in the news release. “It has the potential to offer substantial value, innovation and choice to our customers around the world.”
Kinetic Concepts was acquired last year by Apax Partners, a private equity firm, and other investors, for $6.3 billion.
“Strategically, the sale of the TSS business is important for KCI as it will enable us to focus even further on core growth, execution and realization of our vision—providing transformational healing solutions to caregivers and patients around the world,” Joe Woody, Kinetic Concepts’ president and CEO, said in a separate news release.
The deal is expected to close in the fourth quarter.