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Andrew Eckert, CEO
By Patrick Danner, San Antonio Express-News
San Antonio wound-care company Acelity LP Inc. has appointed R. Andrew Eckert as chief executive and president, replacing Joseph Woody.
Acelity described Eckert as a "seasoned executive" who has headed numerous public and private health-care technology and services companies. He most recently served as CEO of Valence Health in the Chicago area for about 15 months, according to his LinkedIn page.
The company, formerly known as Kinetic Concepts Inc., didn't say why it was replacing Woody.
Acelity is owned by a group led by London-based private equity firm Apax Partners. The San Antonio company was acquired for $6.3 billion in a leveraged buyout in 2011.
Buddy Gumina, Acelity's chairman, said it has hired a proven leader to take the helm as it embarks on "a promising new phase in the transformation of Acelity." Gumina said the company is concentrating on developing and expanding its portfolio of advanced-wound therapies."
Eckert said he looks forward to the challenge of navigating Acelity during "the complex evolution of healthcare delivery in markets around the world," according to the statement released by the company. Acelity has about 4,800 employees, 1,500 of which are based in San Antonio.
"We have an important opportunity to realize growth by embracing the shift to value-based care and delivering to patients and customers innovative products and therapies that address the burdens of treating chronic and acute wounds," Eckert said.
Eckert's appointment comes just two months after Acelity sold LifeCell Corp., a regenerative medicine business, to pharmaceutical giant Allergan for $2.9 billion. The sale took place after Acelity ditched its plans for an initial public offering in December "in light of current market conditions."
Woody was appointed Acelity's CEO and president in early 2012, two months after joining the company as a division head. He replaced Catherine Burzick, who left after the leveraged buyout.
Acelity, in its statement, credited Woody with integrating Kinetic Concepts, LifeCell and wound-care development company Systagenix, which was acquired for $485 million in 2013, "to create a global leader in medical device and technology."
Eckert has served as CEO of Colorado-based TriZetto Corp., a provider of health-care information technology, which was acquired by New Jersey-based Cognizant Technology Solutions Corp. in 2014. Ironically, Apax Partners and other investors agreed to sell their stakes in TriZetto for $2.7 billion in 2014.
Eckert currently serves on the boards of Varian Medical Systems of Palo Alto, California and Becton, Dickinson and Co. of New Jersey.