A rival bid for Kinetic Concepts Inc (NYSE:KCI), a U.S. maker of medical devices used in wound care, by medical technology firm Convatec is worth 40 billion crowns ($6.3 billion), Swedish daily Dagens Industri reported on Tuesday, citing sources.
Apax Partners LLP announced a $5 billion offer for Kinetic last month. Under a so-called go-shop period, Kinetic had 40 days to seek higher offers.
Bloomberg reported on Sunday that Convatec, which is owned by private equity firms Nordic capital and Avista Capital Partners LLC, had made a bid that exceeded Apax's offer.
Nordic Capital was not immediately available for comment.
($1 = 6.355 Swedish Kronas)