Health & Fitness
Health and Fitness
Health and Fitness 
Thu, July 14, 2011
Wed, July 13, 2011
Glancy Binkow & Goldberg LLP Announces Investigation of Kinetic Concepts, Inc.
LOS ANGELES--([ BUSINESS WIRE ])--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the board of directors of Kinetic Concepts, Inc. (aKinetica or the aCompanya) (NYSE:KCI) related to the Companya™s agreement to be acquired by Apax Partners, Inc. and affiliates of Canada Pension Plan Investment Board and the Public Sector Pension Investment Board in a proposed transaction where Kinetic shareholders will receive $68.50 per share in a cash for stock transaction. The transaction is valued at approximately $6.3 billion.
The investigation concerns whether the board of directors of Kinetic breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Specifically, the Company has recently seen substantial growth. Revenue and operating income at the Company has increased in the first and second quarter and are projected to continue to increase. Further, at least one analyst has set a target price of $70.00 per share, virtually nullifying any premium that Kinetica™s shareholders would receive under the transaction.
If you are a shareholder of Kinetic, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to [ shareholders@glancylaw.com ].