Baring Private Equity Asia (BPEA) has agreed to sell Lumenis’ surgical business to Boston Scientific for US$1.07 billion, subject to customary regulatory approvals. BPEA will retain ownership of Lumenis’ fast-growing aesthetics and vision businesses, and reinvest part of the proceeds from the deal to accelerate investment in both domains.
With net sales expected to reach US$200 million this year, Lumenis’ surgical business includes premier laser systems, fibres 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.
Boston Scientific has had a relationship with Lumenis for more than 20 years and currently sells the Lumenis urology laser portfolio in the United States and Japan through a distribution arrangement. Upon completion of the acquisition, Boston Scientific will sell these lasers and fibres – as well as the otolaryngology laser portfolio – to all geographies, including high-growth regions like China.
Yan Jiao, managing director at BPEA, says: “This strategic sale will enable Lumenis to focus its R&D, commercial and sales efforts exclusively on the aesthetics and vision businesses, positioning it well to pursue new growth opportunities in the coming years.”
Lumenis, headquartered in Yokneam, Israel, is a global leader in the field of minimally invasive clinical solutions for the aesthetic, surgical, and vision 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).
Hong Kong-based BPEA is one of the largest private alternative investment firms in Asia, with over US$21 billion of assets under management.