Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

UPDATE 1-Acelity Holdings expects to raise $1 bln in IPO

Published 2015-10-07, 06:35 p/m
© Reuters. UPDATE 1-Acelity Holdings expects to raise $1 bln in IPO
BAC
-
GS
-
BARC
-
CSGN
-
MS
-
JNJ
-

(Adds background)
Oct 7 (Reuters) - Medical technology company Acelity
Holdings Inc IPO-ACHL.N expects to raise up to $1 billion in
its IPO, according to a filing with the U.S. Securities and
Exchange Commission.
The San Antonio, Texas-based company, which develops
regenerative medicine and sells health care products in 75
countries, filed for an initial public offering in August.
The company is a portfolio company of private equity firm
Apax Partners, Canadian pension investment manager PSP
Investments and the Canada Pension Plan Board.
Acelity was founded in 1976 as Kinetic Concepts Inc (KCI).
KCI acquired LifeCell Corp for $1.7 billion in 2008 and bought
UK-based Systagenix, formerly a part of Johnson & Johnson (NYSE:JNJ)
JNJ.N , for $485 million in 2013. KCI renamed itself as Acelity
after the Systagenix takeover.
The company was leveraged at 6.74x at June 30, and plans to
use the IPO to repay its debt, Thomson Reuters IFR reported in
August. urn:newsml:reuters.com:*:nIFP72kDYz
Acelity intends to list on the New York Stock Exchange, but
has yet to decide on a ticker symbol. The company has not
revealed the number of shares it will be offering or their
expected price.
The company, which generated $1.86 billion in revenue last
year, sells and rents its negative pressure wound therapy
systems for use in surgical procedures such as post-mastectomy
breast reconstruction and abdominal wall reconstructions.
JP Morgan, Goldman Sachs (NYSE:GS) and Bank of America Merrill Lynch (NYSE:BAC)
are the top-line bookrunners, while Morgan Stanley (NYSE:MS), Barclays (LONDON:BARC),
Credit Suisse (SIX:CSGN), RBC Capital Markets and UBS are joint
bookrunners.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.