Baring Private Equity Asia announced that its affiliated private equity funds have agreed to acquire Lumenis, a leading provider of specialty energy-based medical devices across the fields of aesthetics, urology, ophthalmology, ENT and gynecology from XIO. The transaction values Lumenis at an enterprise value of over $1 billion.
Lumenis is a global leader in the field of minimally-invasive clinical solutions for the aesthetic, surgical, and ophthalmology specialties. The company has a presence in over 100 countries and close to 1,500 employees worldwide. The Asia Pacific region is its largest market, together with a strong presence in North America and EMEA.
“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,” Tzipi Ozer-Armon, CEO of Lumenis, said in a company news release. “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.”
Yan Jiao, Managing Director at BPEA commented: “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.”
The transaction remains subject to the customary regulatory approval process and is expected to be completed in early 2020.