Kinetic Concepts Inc. received an offer from ConvaTec Inc., the wound-care maker owned by Avista Capital Partners LLC, that exceeds Apax Partners LLP’s $5 billion bid, said two people familiar with the plan.
ConvaTec has received letters from Goldman Sachs Group Inc. and Jeffries Group Inc. saying they believe the transaction can be financed, said the people, who asked not to be identified because the details aren’t public. Apax announced a $68.50 a share offer for Kinetic last month.
Kinetic received about 70 percent of its $2 billion in revenue from the wound-treatment business last year. The company, founded more than 30 years ago, also makes hospital beds and tissue-regeneration products used in surgeries.
Kevin Belgrade, a spokesman for Kinetic, didn’t immediately return a phone call and e-mail Sunday. Andrea Rachman, a Goldman Sachs spokeswoman, declined to comment.
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