Kinetic to issue $1.65bn in bonds as part of leveraged buy-out by Apax
This article was originally published in Clinica
Wound care firm Kinetic Concepts plans to sell $1.65bn of senior notes as part of its $6.3bn takeover by private equity firm Apax Partners, down from the $2.55bn it was originally looking to raise. The company may have reduced the amount it is seeking because of the challenging economic climate, Jefferies analyst Ingeborg Øie told Clinica: "This is partly a junk bond, and it's difficult to raise low-grade debt at the moment. The reduction is probably a reflection of the demand in the market." Junk bonds offer higher returns than conventional bonds, but at a higher risk of default.
You may also be interested in...
Israel is well-known as a medtech hot-spot, with a focus on academic research and strong government support helping the country punch well above its weight when it comes to innovative devices.
St Jude Medical had a heavy focus on its intravascular imaging offering at this year’s EuroPCR meeting, presenting data supporting its optical coherence tomography (OCT) technology. OCT provides intravascular images to help assess culprit lesions, which can improve stent selection and deployment, according to St Jude.
A big topic at this year’s EuroPCR, held in Paris on 19-22 May, was drug-coated balloons (DCBs). One of the leaders in the field, Medtronic, presented positive data from two studies of its IN.PACT Admiral balloon, which could support an expanded indication for the device.