KCI completes sale of Therapeutic Support Systems division

KCI has completed the sale of its Therapeutic Support Systems (TSS) business division, which comes as part of efforts to refine the focus of its operations.

The company has sold off the TSS unit to Getinge for $275 million (173.26 million pounds), but will be continuing to provide transitional support for some time in order to ensure patients continue to receive top-quality service.

This business offers a comprehensive portfolio of specialty therapeutic beds, mattress replacement systems, support surfaces and patient mobility devices for wound care, bariatric and critical care settings.

Net proceeds from the sale will be reinvested into core business areas or new growth opportunities, while any leftover funds will be used to repay long-term debt obligations.

Joe Woody, president and chief executive officer of KCI, said: "As we close this corporate chapter and open new ones, the focus on providing exceptional customer outcomes as the leader in transformational healing solutions remains clear."

In September 2012, the company announced plans to expand its operations in Brazil, allowing it to help a broader spectrum of patients while bolstering the economy of the South American nation.