Hill-Rom has sold its patents and intellectual property relating to Negative Pressure Wound Therapy (NPWT) to Kinetic Concepts, Inc. Hill-Rom's NPWT portfolio included U.S. and foreign patents and patent applications covering innovations to NPWT components, protocols, and related therapies. The transaction is effective immediately. Terms were not disclosed.
"The sale of these assets is a continuation of our portfolio rationalization initiative to more tightly focus on our core competencies and businesses that offer attractive and profitable growth opportunities for our shareholders," says Peter H. Soderberg, president and CEO, Hill-Rom Holdings. "While we have successfully developed valuable IP in the area of NPWT, the disposition of these assets is in line with our corporate strategy."
"KCI remains squarely focused on patient care and creating new alternatives in advanced wound healing and other areas," says Catherine M. Burzik, KCI president and CEO. "We will continue to make investments that put us in position to innovate and to deliver great alternatives to the medical community and patients."