STOCKHOLM (Reuters) - A rival bid for Kinetic Concepts Inc KCI.N, a U.S. maker of medical devices used in wound care, by medical technology firm Convatec is worth more than 40 billion crowns ($6.3 billion), Swedish daily Dagens Industri reported on Tuesday, citing sources.
Apax Partners LLP announced a $5 billion offer for Kinetic last month. Including debt, the offer was worth $6.3 billion. Under a so-called go-shop period, Kinetic had 40 days to seek higher offers.
Bloomberg also reported on Sunday that Convatec, which is owned by private equity firms Nordic capital and Avista Capital Partners LLC, had made a bid that exceeded Apax’s offer.
Nordic Capital was not immediately available for comment.
($1 = 6.355 Swedish Kronas)
(Reporting By Anna Ringstrom; Editing by Hans-Juergen Peters and Erica Billingham)
This story was corrected in headline and first paragraph to change the rival bid amount to more than 40 billion crowns and clarifies the total size of earlier offer in the second paragraph.