Kinetic Concepts Inc. sells off its Therapeutic Support Systems hospital bed business to Getinge for $275 million.
The deal for the 1,300-worker KCI unit, which makes specialty therapeutic beds, calls for the San Antonio, Texas-based wound care giant to provide "certain transition services to Getinge for a period of time," according to a press release. The TSS business pulled in $247 million in sales last year, according to a separate release.
Getinge said the deal will augment its extended care business, better balancing equipment sales and recurring revenues. About 60% of TSS's business comes from the U.S., the company said.