Kinetic Concepts and its subsidiaries develop and market innovative medical devices for advanced wound healing and therapeutic treatment systems that address skin breakdown, pulmonary complications, and circulation problems associated with patient immobility. KCI's medical devices and therapeutic systems include V.A.C.® Therapy Systems, as well as specialty beds, mattress replacement systems, wheelchair seating, and related devices. KCI serves hospitals, nursing homes, and home care settings both in the U.S. and abroad.

Calera Capital led the recapitalization of KCI, taking the company private, in November 1997. As part of the transaction, KCI's founder and senior management team retained and reinvested a significant equity stake.

KCI completed a $1 billion recapitalization in August of 2003 and subsequently accessed public equity capital through an IPO in February of 2004 and a secondary offering in June of 2004. Calera Capital completed the sale of its shares of KCI in May 2005.