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Law Firm Brower Piven Announces Investigation of Kinetic Concepts, Inc.

^{Published on 2011-07-06 20:00:34 - Market Wire}
 

STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Kinetic Concepts, Inc. (aKinetic Conceptsa or aCompanya) (NYSE: KCI) and other violations of state law by the Board of Directors of Kinetic Concepts relating to the possible acquisition of the company by The Blackstone Group, L.P. (aBlackstonea) (NYSE: BX). The firma™s investigation seeks to determine whether Kinetic Conceptsa™ Board breached their fiduciary duties by, among other things, failing to maximize shareholder value.

On July 6, 2011, it was reported that Kinetic Concepts has held talks with Blackstone seeking to sell itself for a total of $5 billion. Shares for the Company rose about 12%, to $66.30, in mid-afternoon trading on Wednesday. According to Kinetic Conceptsa™ press release dated April 26, 2011, Kinetic Concepts has been performing well recently, reporting first quarter 2011 total revenue of $501.2 million, an increase of 3% from the first quarter of 2010. Net earnings for the first quarter of 2011 were $68.4 million, an increase of 30% compared to $52.7 million for the same period one year ago.

If you own Kinetic Concepts common stock and would like to learn more about the investigation being conducted by Brower Piven, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.