Medical technology provider Boston Scientific announced on Wednesday that it has entered into a definitive agreement with an affiliate of Baring Private Equity Asia (BPEA) to acquire the global surgical business of Israel's Lumenis Ltd., a privately-held company that develops and commercializes energy-based medical solutions, for an upfront cash payment of $1.07 billion, subject to closing adjustments.
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BPEA will retain ownership 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.
"The MOSES laser technology, paired with our LithoVue Single-Use Digital Flexible Ureteroscope and comprehensive kidney stone management portfolio, will enable execution of our strategy for our stone franchise," said Boston Scientific senior vice president and president, Urology and Pelvic Health Meghan Scanlon.
Lumenis CEO Tzipi Ozer-Armon said, "We take great pride in our heritage of innovation in surgical laser solutions which are helping millions of patients worldwide."
