Getinge acquires Therapeutic Support Systems business from Kinetic Concepts Inc.
Getinge has agreed to acquire US-based Kinetic Concepts Inc.’s Therapeutic Support Systems (TSS) business for USD 275 million. The TSS portfolio and operations will be integrated into Getinge Extended Care under the ArjoHuntleigh brand.
Kinetic Concepts’ TSS business includes a comprehensive portfolio of specialty therapeutic beds, mattress replacement systems and other support surfaces and patient mobility devices for the therapeutic wound care, bariatric and critical care settings. TSS had revenues of USD 247 million in 2011, with approximately 1,300 employees globally and sales locations in the US, Canada, Germany, Austria, Italy, Switzerland, the UK, and France.
The Getinge Group is a leading global provider of equipment, systems and solutions that aims to contribute to quality enhancements and cost efficiency within healthcare and the life sciences. The Getinge Group had revenues of SEK 21.9 billion in 2011, with approximately 13,000 employees in 37 countries. The Group’s share is listed on NASDAQ OMX Stockholm.
The Getinge Group was advised by Mannheimer Swartling in the transaction on matters concerning Europe. The firm’s team was led by Claes Albinsson in Sweden, assisted by Pontus Malmunger and Rickard Fredén; Zoran Stambolovski advised on acquisition financing, assisted by Maria Tholin, and Helén Waxberg handled EU regulatory matters regarding medical products. In Germany, the firm’s team included Jürgen Busch, assisted by Meike Johnsen and Alexander von Kleist, advising on competition law; Christian Bloth, assisted by Alper Ardali, on employment matters in Germany, Italy and Austria; and Maria Wolleh, assisted by Alexander von Kleist, on German real estate law.