Medical technology company Kinetic Concepts Inc. is buying Systagenix for $485 million, expanding and diversifying the San Antonio-based buyer's wound care offerings.

Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley are providing financial advice to Kinetic. BofA, Morgan Stanley and Goldman are providing debt financing for the deal.

Systagenix provides advanced wound care products that focus on moist wound healing dressings. Kinetic develops various healing products, including a pressurized wound healing system.

In connection with the deal, Systagenix’s owner, private equity firm One Equity Partners, is spinning off an early-stage diagnostics business from Systagenix that it will own and operate as a stand-alone business.