KCI Holdings, a lBO'd provider of advanced wound care systems and tissue implants, withdrew its plans for an initial public offering on Tuesday. It had been acquired by 3M in May 2019 for $6.7 billion including debt.
The San Antonio, TX-based company was founded in 1976 and booked $1.5 billion in sales for the 12 months ended December 31, 2018. It had planned to list on the NYSE under the symbol KCIH.RC. J.P. Morgan, Goldman Sachs and BofA Securities were set to be the joint bookrunners on the deal.
