Lumenis has created solutions for previously untreatable conditions, and designed advanced technologies to transform existing treatment methods
Image: Lumenis Pulse 100H, Pulse 50H and Pulse 30H holmium laser solutions. Photo: Courtesy of Lumenis Ltd.
Baring Private Equity Asia (BPEA), through its affiliated private equity funds, has agreed to acquire a medical devices company Lumenis for more than $1bn.
Lumenis is engaged in providing minimally-invasive clinical solutions across the fields of aesthetic, surgical, and ophthalmology, ENT and gynaecology specialities.
Lumenis CEO Tzipi Ozer-Armon said: “BPEA’s investment is a tremendous vote of confidence in Lumenis and in the achievements of our entire global organization. In recent years, we have developed and introduced multiple groundbreaking technological solutions that have redefined our industry and opened entirely new market segments.
“I would like to thank the entire Lumenis team, I am truly proud of all we have accomplished and honored to lead a company on the cutting edge of healthcare innovation, committed to improving the lives of people across the world. We look forward to partnering with the team at BPEA to continue developing and delivering to the world better technology for better patient care.”
Lumenis develops advanced energy-based technologies
Lumenis said that it has been operating for 50 years. With approximately 1,500 employees, the company has a presence in more than 100 countries.
In addition, it has created solutions for previously untreatable conditions and designed advanced technologies and ground-breaking products to transform existing medical treatment methods.
The company claims to be an expert in developing and commercialising advanced energy-based technologies, including laser, intense pulsed light (IPL) and radio-frequency (RF).
The transaction, which is expected to be completed in early 2020, is subject to the customary regulatory approval process.
BPEA is a private alternative investment firm engaged in providing private equity investments, buyouts and growth capital to companies, with a total of more than $18bn in committed capital.
BPEA managing director Yan Jiao said: “Lumenis has built a market-leading position by creating some of the most innovative technologies in the industry.
“It is a clear leader worldwide, especially in Asia which recently emerged as the largest market for medical and aesthetics treatments. We look forward to working with the CEO and management team to support their global growth aspirations.”