Israel’s Lumenis Sells Surgical Operation for $1.1 Billion to Boston Scientific
Boston Scientific and Lumenis have had a business relationship for 20 years now.
Boston Scientific has acquired the global surgical business of Israel’s Lumenis LTD. Lumenis is a privately-held company that develops and commercializes energy-based medical solutions. The sale was for of $1.07 billion in cash, subject to closing adjustments.
Baring Private Equity Asia (BPEA), Lumenis’ current 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.
We have entered into a definitive agreement to acquire the global surgical business of Lumenis LTD., a privately-held company that develops and commercializes energy-based medical solutions.: https://t.co/tME5OBvRqB
— Boston Scientific (@bostonsci) March 3, 2021
Lumenis is a global leader 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.
“We take great pride in our heritage of innovation in surgical laser solutions which are helping millions of patients worldwide,” said Tzipi Ozer-Armon, chief executive officer, Lumenis. “Notably the proprietary, patent-protected MOSES technology has revolutionized urology laser procedures by improving the clinical efficacy and efficiency for kidney stones. We are confident that Boston Scientific, as a global leader in urology, and our long-time commercial partner, is the best organization to carry this legacy forward.”
Boston Scientific transforms lives through innovative medical solutions that improve the health of patients around the world. As a global medical technology leader for more than 40 years, we advance science for life by providing a broad range of high performance solutions that address unmet patient needs and reduce the cost of healthcare