KCI completes takeover of Systagenix

KCI has completed its acquisition of UK-based medical technology firm Systagenix in a deal worth $485 million (301.78 million pounds).

A leading provider of advanced wound care products, the takeover of Systagenix will help to enhance KCI's position in the transformational healing solutions market by expanding its product portfolio with various new offerings.

It is responsible for the creation of moist wound healing dressing products such as Promogran Prisma, Tielle and Adaptic and sells more than 20 million dressings each month to customers in over 100 countries.

Peter Huntley has been appointed as the new senior vice-president and leader of Systagenix following the takeover.

Joe Woody, president and chief executive officer of KCI, said: "The successful completion of the Systagenix acquisition marks an important milestone in the advancement of our long-term strategy as the global leader in transformational healing solutions."

KCI, Systagenix and LifeCell will now be combined to form one company, which will be a global leader in medical technology with more than $2 billion in revenue.