San Antonio Business Journal by James Aldridge, Web Editor
Kinetic Concepts Inc. laid off 127 job positions worldwide, including 114 administrative positions in San Antonio, as the company makes the transition from a public company to a private company.
KCI officials issued a statement relating to the layoffs.
“Throughout our 35-year history, we’ve been a stable employer and provided good jobs to thousands of employees — even during the global economic challenges of the past few years. With the changing landscape in health care, and with an eye toward the future, we need to match our workforce to the needs of the business and our customers. We will continue to maintain a significant employee base in San Antonio and look forward to opening our new global headquarters here this summer,” according to the statement.
On Nov. 4, 2011, a consortium of investors led by Apax Partners and affiliates controlled by Canada Pension Plan Investment Board and the Public Sector Pension Investment Board closed on the purchase of KCI. The company’s stock was subsequently delisted from the New York Stock Exchange on Nov. 7.
San Antonio-based KCI manufactures and markets products for the wound care, tissue regeneration and therapeutic support system markets in 20 different countries. The company is in the process of building a new corporate campus off Interstate 10 between DeZavala and UTSA Blvd. Globally, KCI has around 7,000 employees.