Kinetic Concepts Inc., a maker of wound care products and hospital beds, said Wednesday it would be bought by a private equity consortium made of Apax Partners and two Canadian pension funds for $4.98 billion in cash.

The deal for the San Antonio-based company, expected to close in the second half of the year, is estimated to be worth $6.3 billion, including the assumption of debt.

Apax and the two funds, Canadian Pension Plan Investment Board and Public Sector Pension Investment Board, are paying $68.50 a share for Kinetic, a 6 percent premium on its Tuesday closing price.

Company founder James R. Leininger and other shareholders, controlling 11 percent of the company's shares, have agreed to the deal. According to the transaction's terms, Kinetic has a 40-day period to shop for other offers.

Last year, Kinetic reported sales of around $2 billion, the bulk of which was from its negative-pressure wound treating devices.

The private equity groups brought on Morgan Stanley as a financial advisor, and secured debt financing from Morgan Stanley, Bank of America Merrill Lynch and Credit Suisse.