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Kinetic Concepts, Inc. to Offer Convertible Notes


    Kinetic Concepts, Inc. (NYSE: KCI) today announced that it is
    planning to offer $600 million aggregate principal amount of
    convertible senior notes due 2015, subject to market and other
    customary conditions. KCI may sell up to an additional $90 million
    aggregate principal amount of notes upon exercise of an over-allotment
    option that KCI expects to grant to the initial purchasers in
    connection with the offering.

    Upon conversion, holders will receive cash up to the aggregate
    principal amount of the notes being converted and shares of KCI common
    stock in respect of the remainder, if any, of KCI´s conversion
    obligation in excess of the aggregate principal amount of the notes
    being converted.

    In connection with the offering, KCI intends to enter into
    convertible note hedge transactions with one or more of the offering´s
    initial purchasers and/or their affiliates for the purpose of reducing
    the potential dilution upon future conversion of the notes. KCI also
    intends to enter into warrant transactions with the same
    counterparties. The warrant transactions could have a dilutive effect
    on KCI´s earnings per share to the extent that the price of KCI´s
    common stock exceeds the strike price of the warrants at exercise.

    KCI intends to use a portion of the net proceeds from the offering
    to pay the cost of the convertible note hedge transactions, taking
    into account the proceeds to KCI from the warrant transactions, and to
    use the balance of the net proceeds to fund a portion of the purchase
    price of the proposed acquisition of LifeCell Corporation, repay
    certain indebtedness of KCI, provide ongoing working capital and
    provide for other general corporate purposes of the combined company.

    KCI has been advised that, in connection with establishing their
    initial hedge of the convertible note hedge and warrant transactions
    described above, KCI´s counterparties or their affiliates expect to
    enter into various derivative transactions with respect to KCI common
    stock concurrently with or shortly after the pricing of the notes.
    These activities could have the effect of increasing, or preventing a
    decline in, the price of KCI common stock concurrently with or shortly
    after the pricing of the notes. KCI has been further advised that its
    counterparties or their affiliates may modify their respective hedge
    positions by entering into or unwinding various derivative
    transactions with respect to KCI common stock and/or by purchasing or
    selling KCI common stock in secondary market transactions during the
    term of the notes. In particular, such hedge modification transactions
    are likely to occur during an observation period related to any
    conversions of the notes, which may have a negative effect on the
    amount or value of the consideration received in relation to the
    conversion of those notes. Any of these activities could adversely
    affect the value of KCI common stock and the value of consideration
    that holders may receive upon conversion of the notes.

    The notes and the shares of common stock underlying the notes have
    not been registered under the Securities Act of 1933, as amended (the
    "Securities Act"), or any applicable state securities laws, and will
    be offered only to qualified institutional buyers pursuant to Rule
    144A promulgated under the Securities Act. Unless so registered, the
    notes may not be offered or sold in the United States except pursuant
    to an exemption from the registration requirements of the Securities
    Act and applicable state securities laws.

    This press release shall not constitute an offer to sell or the
    solicitation of an offer to buy these securities, nor shall there be
    any sale of these securities in any state in which such offer

    solicitation or sale would be unlawful prior to registration or
    qualification under the securities laws of any state.

    Forward Looking Statements

    This communication contains forward-looking statements, which may
    be identified by words such as "believes", "expects", "anticipates"

    "estimates", "projects", "intends", "should", "seeks", "future"

    "continue", or the negative of such terms, or other comparable
    terminology. Forward-looking statements are subject to risks

    uncertainties, assumptions and other factors that are difficult to
    predict and that could cause actual results to vary materially from
    those expressed in or indicated by them. Such forward-looking
    statements include, but are not limited to, statements about the
    proposed transaction, KCI´s ability to implement its strategic and
    business initiatives, including its proposed acquisition of LifeCell

    financial expectations and intentions and other statements that are
    not historical facts. Additional risks and factors are identified in
    KCI´s filings with the U.S. Securities Exchange Commission (the
    "SEC"), including its Report on Form 10-K for the fiscal year ending
    December 31, 2007, which is available on the SEC´s website at
    http://www.sec.gov. KCI undertakes no obligation to revise or update
    any forward-looking statement, or to make any other forward-looking
    statements, whether as a result of new information, future events or
    otherwise.