As the deal is concluded, Boston Scientific will now market the lasers and fibres, as well as the otolaryngology laser portfolio to the customers in all geographies, including high-growth regions such as China
Boston Scientific’s corporate headquarters in Marlborough, Massachusetts. (Credit: Boston Scientific Corporation.)
Boston Scientific has completed the acquisition of Lumenis’ global surgical business from an affiliate of Baring Private Equity Asia (BPEA) for $1.07bn.
Lumenis’ surgical business offers premier laser systems, fibres and accessories suitable for urology and otolaryngology procedures.
As the deal is concluded, Boston Scientific will now market the lasers and fibres, as well as the otolaryngology laser portfolio to customers in all geographies, including high-growth regions such as China.
The acquisition was originally announced in March this year.
The acquired business is expected to report total revenue of up to $200m for the full year of 2021.
Boston Scientific urology and pelvic health president and senior vice president Meghan Scanlon said: “The close of this acquisition allows us to integrate the Lumenis laser portfolio – including the differentiated MOSES technology – with our category leading kidney stone management and benign prostatic hyperplasia offerings while expanding our global footprint to accelerate growth throughout Europe and Asia.
“Additionally, we are welcoming significant talent to our Urology & Pelvic Health Team, and we are excited to establish our global surgical laser center of excellence in Yokneam where we will continue our focus on advancing innovation to help surgeons improve patient care.”
BPEA will hold ownership of the Lumenis global aesthetics and ophthalmology businesses.
Lumenis will now refocus and optimise planned investments to further develop its aesthetic and vision businesses.
The company will mainly concentrate on research and development, global sales and marketing channels, as well as business development activities.
Lumenis CEO Tzipi Ozer-Armon said: “Completion of this deal and transfer of the Surgical business to Boston Scientific – including its robust product portfolio, global team, and the Israeli surgical laser center of excellence – represents a major milestone and a testament to the outstanding work of the Surgical team.”
In January this year, Boston Scientific has agreed to acquire mobile health solutions and remote monitoring services provider Preventice Solutions for an upfront cash payment of $925m.