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<p align="center"><b><font size="3" face="Times New Roman">UNITED STATES<br />
SECURITIES AND EXCHANGE COMMISSION</font></b><font face="Times New Roman"><br />
</font><b><font size="2" face="Times New Roman Bold">W</font></b><b><font size="2" face="Times New Roman Bold">ashington, D.C. 20549</font></b></p>

<p align="center"><b><font size="3" face="Times New Roman">FORM 8-K</font></b></p>

<p align="center"><b><font size="3" face="Times New Roman">CURRENT REPORT</font></b></p>

<p align="center"><b><font size="2" face="Times New Roman">Pursuant to Section&nbsp;13 or 15(d) of The Securities Exchange Act of 1934</font></b></p>

<p align="center"><font size="2" face="Times New Roman">Date of report (Date of earliest event reported): <b>November 9, 2004</b></font></p>

<p align="center"><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p align="center"><b><font size="4" face="Times New Roman">Kinetic Concepts, Inc.<br />
</font></b><font size="2" face="Times New Roman">(Exact name of registrant as specified in its charter)</font></p>

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<h2 align="center"><b><font size="2" face="Times New Roman">Texas</font></b></h2>
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<p align="center"><font size="2" face="Arial Unicode MS"><font size="2" face="Arial Unicode MS">&nbsp;</font></font></p>
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<p align="center"><b><font size="2" face="Times New Roman">0001-09913</font></b></p>
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<p align="center"><font size="2" face="Arial Unicode MS"><font size="2" face="Arial Unicode MS">&nbsp;</font></font></p>
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<p align="center"><b><font size="2" face="Times New Roman">74-1891727</font></b></p>
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<p align="center"><font size="2" face="Times New Roman">(State or other jurisdiction<br />
 of incorporation)</font></p>
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<p align="center"><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>
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<p align="center"><font size="2" face="Times New Roman">(Commission<br />
 File Number)</font></p>
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<p align="center"><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>
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<p align="center"><font size="2" face="Times New Roman">(IRS Employer<br />
 Identification No.)</font></p>
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<p align="center"><b><font size="2" face="Times New Roman Bold">8023 V</font></b><b><font size="2">antage Drive<br />
</font></b> <b><font size="2" face="Times New Roman Bold">San Antonio, Texas</font></b></p>
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<p><b><font size="2" face="Times New Roman">&nbsp;&nbsp;78230</font></b></p>
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<p align="center"><font size="2" face="Times New Roman">(Address of principal executive offices)</font></p>
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<p><font size="2" face="Times New Roman">(Zip Code)</font></p>
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<p><font size="2" face="Times New Roman">Registrant&rsquo;s telephone number, including area code:&nbsp; <b>(210) 524-9000</b></font></p>

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(Former name or former address, if changed since last report)</font></p>

<p><font size="2" face="Times New Roman"><font size="2" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="2" face="Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:<br />
</font></p>

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<p><font size="3" face="Wingdings">&uml;</font></p>
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<p><font size="2" face="Times New Roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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<p><font size="3" face="Wingdings">&uml;</font></p>
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<p><font size="2" face="Times New Roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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<p><font size="3" face="Wingdings">&uml;</font></p>
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<p><font size="2" face="Times New Roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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<p><font size="3" face="Wingdings">&uml;</font></p>
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<p><font size="2" face="Times New Roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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<p><b><font size="3" face="Times New Roman">Item 1.01.</font></b><b>&nbsp; Entry into a Material Definitive Agreement.</b></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="3" face="Times New Roman">On November 9, 2004, the Board of Directors of Kinetic Concepts Inc. ("KCI") approved and adopted an Amended and Restated Non-Employee Directors Stock Plan (the "Plan"), which amends the 2003 Non-Employee Directors Stock Plan
dated May 28, 2003. Amendments to the Plan impact the equity compensation of KCI's Board members who are not employed by, or&nbsp; affiliates of, KCI ("Participant").</font></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="3" face="Times New Roman">The Plan amendments end the prior annual Participant option grant to purchase $50,000 in fair market value of KCI common Stock, limiting these terms to periods prior to January 1, 2005.&nbsp; The Plan amendments change
Participants' option grant terms immediately following the first annual shareholder meeting of 2005 at which directors will be elected.&nbsp; At that time, Participants will receive an automatic option grant to purchase 4,500 shares of KCI common stock at fair market
value.&nbsp; Individuals becoming Participants at any time other than through election at an annual meeting of shareholders will receive their initial 4,500 option grant at the time they first become a Participant unless the Board determines
otherwise.&nbsp;</font></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="3" face="Times New Roman">The Plan amendments also end the prior annual restricted stock award program of $50,000 in fair market value of KCI common stock.&nbsp; Now effective for all periods from and following January 1, 2005, each Participant will
automatically be granted a restricted stock award with respect to 1,000 shares of stock immediately following each annual shareholders meeting at which directors are elected.</font></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="3" face="Times New Roman">Also, the Plan amendments end the annual grant of unrestricted stock awards for all periods after January 1, 2005.&nbsp;&nbsp;</font></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="3" face="Times New Roman">The Amended and Restated 2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004, is attached to this report as Exhibit 10.1.&nbsp; Forms of the stock option and restricted
stock agreements relating to the Plan amendments are attached to this report as Exhibits 10.2 and 10.3, respectively.&nbsp;</font></p>

<p><b><font size="3" face="Times New Roman"><b><font size="3" face="Times New Roman">&nbsp;</font></b></font></b></p>

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<p><b><font size="3" face="Times New Roman">Item 9.01.</font></b><b>&nbsp; Financial Statements and Exhibits</b></p>

<p><b><font size="3" face="Times New Roman"><b><font size="3" face="Times New Roman">&nbsp;</font></b></font></b></p>

<p><b><font size="3" face="Times New Roman">(c) Exhibits</font></b></p>

<p><b><font size="3" face="Times New Roman"><b><font size="3" face="Times New Roman">&nbsp;</font></b></font></b></p>

<p><font size="3" face="Times New Roman">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004.</font></p>

<p><font size="3" face="Times New Roman"><br />
10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Stock Option Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.</font></p>

<p><font size="3" face="Times New Roman"><br />
10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Restricted Stock Award Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.</font></p>

<p><font size="3" face="Times New Roman"><font size="3" face="Times New Roman">&nbsp;</font></font></p>

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<p align="center"><b><font size="2" face="Times New Roman">SIGNATURES</font></b></p>

<p><font size="2" face="Times New Roman"><font size="2" face="Times New Roman">&nbsp;</font></font></p>

<p><font size="2" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</font></p>

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<p><font size="2" face="Times New Roman">KINETIC CONCEPTS, INC.</font></p>

<p><font size="2" face="Times New Roman">(REGISTRANT)</font></p>
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 </font></p>
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<p><font size="2" face="Times New Roman"><br />
 &nbsp;</font></p>
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 &nbsp;</font></p>
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<br />
 Date: November 15, 2004</font></p>
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<br />
 &nbsp;</font></p>
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<br />
 By:</font></p>
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<br />
 <u>&nbsp;&nbsp;/s/&nbsp;Dennert O. Ware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>
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<p><font size="2" face="Times New Roman">&nbsp;</font></p>
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<p><font size="2" face="Times New Roman">Name:</font></p>
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<p><font size="3" face="Times New Roman">Dennert</font> O. Ware</p>
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<p><font size="2" face="Times New Roman">&nbsp;</font></p>
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<p><font size="2" face="Times New Roman">Title:</font></p>
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<p><font size="2" face="Times New Roman">President and Chief Executive Officer</font></p>
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<p><font size="2" face="Times New Roman"><font size="2" face="Times New Roman">&nbsp;</font></font></p>

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<p align="center"><b><font size="2" face="Times New Roman">EXHIBIT INDEX</font></b></p>

<p><font size="2" face="Times New Roman"><font size="2" face="Times New Roman">&nbsp;</font></font></p>

<p><b><font size="2" face="Times New Roman Bold">Exhibit
No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Description</font></b></p>

<p><font size="2" face="Times New Roman">10.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font> 2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004.</p>

<p><font size="3" face="Times New Roman"><br />
10.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Stock Option Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.</font></p>

<p><font size="3" face="Times New Roman"><br />
10.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form of Restricted Stock Award Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.</font></p>

<p><font size="2" face="Times New Roman"><font size="2" face="Times New Roman">&nbsp;</font></font></p>
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KCI 8K 11/15/2004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
W
ashington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
November 9, 2004
Kinetic Concepts, Inc.
(Exact name of registrant as specified in its charter)
Texas
0001-09913
74-1891727
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
8023 V
antage Drive
San Antonio, Texas
78230
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code:
(210) 524-9000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.
Entry into a Material Definitive Agreement.
On November 9, 2004, the Board of Directors of Kinetic Concepts Inc. ("KCI") approved and adopted an Amended and Restated Non-Employee Directors Stock Plan (the "Plan"), which amends the 2003 Non-Employee Directors Stock Plan
dated May 28, 2003. Amendments to the Plan impact the equity compensation of KCI's Board members who are not employed by, or  affiliates of, KCI ("Participant").
The Plan amendments end the prior annual Participant option grant to purchase $50,000 in fair market value of KCI common Stock, limiting these terms to periods prior to January 1, 2005.  The Plan amendments change
Participants' option grant terms immediately following the first annual shareholder meeting of 2005 at which directors will be elected.  At that time, Participants will receive an automatic option grant to purchase 4,500 shares of KCI common stock at fair market
value.  Individuals becoming Participants at any time other than through election at an annual meeting of shareholders will receive their initial 4,500 option grant at the time they first become a Participant unless the Board determines
otherwise.
The Plan amendments also end the prior annual restricted stock award program of $50,000 in fair market value of KCI common stock.  Now effective for all periods from and following January 1, 2005, each Participant will
automatically be granted a restricted stock award with respect to 1,000 shares of stock immediately following each annual shareholders meeting at which directors are elected.
Also, the Plan amendments end the annual grant of unrestricted stock awards for all periods after January 1, 2005.
The Amended and Restated 2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004, is attached to this report as Exhibit 10.1.  Forms of the stock option and restricted
stock agreements relating to the Plan amendments are attached to this report as Exhibits 10.2 and 10.3, respectively.
Item 9.01.
Financial Statements and Exhibits
(c) Exhibits
10.1      2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004.
10.2      Form of Stock Option Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.
10.3      Form of Restricted Stock Award Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
KINETIC CONCEPTS, INC.
(REGISTRANT)
Date: November 15, 2004
By:
/s/ Dennert O. Ware
Name:
Dennert
O. Ware
Title:
President and Chief Executive Officer
EXHIBIT INDEX
Exhibit
No.                                 Description
10.1
2003 Non-Employee Directors Stock Plan, as adopted May 28, 2003 and Amended and Restated November 9, 2004.
10.2      Form of Stock Option Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.
10.3      Form of Restricted Stock Award Agreement under the 2003 Non-Employee Directors Stock Plan, as Amended and Restated.