Boston Scientific’s shopping spree for smaller medical-device companies continued on Wednesday when the Marlborough-based company completed its $1.1bn acquisition of an Israeli surgical laser business.
The deal to buy the global surgical business of Lumenis from investment firm Baring Private Equity Asia was first announced in March. Baring is keeping the Lumenis aesthetics and ophthalmology businesses.
Lumenis’ former owner will retain control of the Lumenis global aesthetics and ophthalmology businesses. With 2021 net sales anticipated to be approximately $200 million, the Lumenis surgical business includes premier laser systems, fibers and accessories used for urology and otolaryngology procedures. Foundational to its urology portfolio is the proprietary MOSES technology, which has demonstrated differentiated clinical outcomes and efficiency in the management of patients with kidney stones.
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Lumenis works in the field of minimally-invasive clinical solutions for the Surgical, Ophthalmology and Aesthetic markets, and is a world-renowned expert in developing and commercializing innovative energy-based technologies, including Laser, Intense Pulsed Light (IPL) and Radio-Frequency (RF).
Lumenis LTD was founded in 1966 and is headquartered in Yokneam, Israel. It has 1,500 employees including 450 in Israel. Boston Scientific has had a relationship with Lumenis for more than 20 years and currently sells the Lumenis urology laser portfolio in the U.S. and Japan through a distribution arrangement. Upon completion of the acquisition, Boston Scientific will sell these lasers and fibers – as well as the otolaryngology laser portfolio – to all geographies including high-growth regions like China.
“This has been a deal that I’ve been quite keen to do for a number of years,” said Meghan Scanlon, the president of Boston Scientific’s urology and pelvic health business. “After 20 years of a very successful partnership between Boston Scientific and Lumenis, the time was perfect to add this formally to our global portfolio.”
Source: Jewish Business News
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