Boston Scientific has closed its acquisition of the global surgical business of Lumenis Ltd, a privately-held company that develops and commercialises energy-based medical solutions, from an affiliate of Baring Private Equity Asia (BPEA).
The Lumenis surgical business includes premier laser systems, fibres and accessories used for urology and otolaryngology procedures with total revenue anticipated to be approximately $200 million for full year 2021.
Meghan Scanlon, senior vice president and president, urology and pelvic health, Boston Scientific, 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 centre of excellence in Yokneam where we will continue our focus on advancing innovation to help surgeons improve patient care."
Boston Scientific announced a definitive agreement to acquire the global surgical business of Lumenis on March 3, 2021 for an upfront cash payment of $1.07 billion, subject to closing adjustments. Boston Scientific has had a relationship with Lumenis for over 20 years and, prior to close, already offered the Lumenis urology laser portfolio in the U.S. and Japan through a distribution arrangement. With the completion of this acquisition, Boston Scientific will now sell these lasers and fibres – as well as the otolaryngology laser portfolio – to all geographies including high-growth regions like China. BPEA will retain ownership of the Lumenis global aesthetics and ophthalmology businesses.
