Medical technology company Kinetic Concepts Inc. is buying Systagenix for $485 million, expanding and diversifying the San Antonio-based buyer's wound care offerings.

Systagenix provides advanced wound care products that focus on moist wound healing dressings, including Promogran Prisma, a collagen dressing, Tielle, a foam dressing, and Adaptic, a non-adherent dressing (pictured).

Kinetic develops various healing products, including a pressurized wound healing system.

In connection with the deal, Systagenix’s owner, private equity firm One Equity Partners LLC, is spinning off an early-stage diagnostics business from Systagenix that it will own and operate as a stand-alone business.

Goldman Sachs & Co. (NYSE: GS), Bank of America Merrill Lynch and Morgan Stanley are providing financial advice to Kinetic. BofA, Morgan Stanley and Goldman are providing debt financing for the deal. Simpson Thacher & Barlett LLP and Kirkland & Ellis LLP are acting as Kinetic’s legal counsel. Jones Day is providing legal advice to Systagenix.

Other recent medical device deals include Vention Medical’s purchase of RiverTEch Medical, which makes tubing for medical devices, and TranS1 Inc.’s (Nasdaq: TSON) deal for Baxano Inc., which develops minimally invasive spinal devices.

For more on medical devices and health care M&A, see “Medical Devices Drive Health Care M&A,” and “Healthy Investments.”

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