Gamco, Gabelli acquire shares of LifeCell ahead of company's merger with Kinetic Concepts

By Lisa Kerner

Charlotte, N.C., April 15 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC bought 1,953,800 shares of LifeCell Corp. for an initial 5.72% stake in the company.

The shares were acquired between April 7 and April 14 priced from $50.51 to $50.59 each, according to a schedule 13D filing with the Securities and Exchange Commission.

On April 7, Kinetic Concepts, Inc. announced it would acquire LifeCell for $51.00 per share in a deal valued at $1.7 billion.

A Kinetic Concepts subsidiary will begin a cash tender offer to acquire all outstanding shares of LifeCell's common stock, a prior news release said.

It was previously reported that following the acquisition, LifeCell will operate as a new global biosurgery division within Kinetic Concepts led by current LifeCell president Paul Thomas, who will also join Kinetic Concepts' executive committee.

Kinetic Concepts is a San Antonio medical technology company specializing in advanced wound care and therapeutic support systems.

LifeCell provides biological products for soft tissue repair, including its Alloderm regenerative tissue matrix for plastic reconstructive, general surgical, burn and periodontal procedures. The company is located in Branchburg, N.J.

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