Boston Scientific (NYSE: BSX) today announced the completion of its acquisition of the surgical business of Israeli medical device company Lumenis from an affiliate of Baring Private Equity Asia (BPEA) for $1.07 billion. The Lumenis surgical business includes premier laser systems, fibers and accessories used for urology and otolaryngology procedures with revenue anticipated to be $200 million in 2021.
Lumenis will remain with 1,000 employees in its laser and RF activities and CEO Tzipi Ozer-Armon said it is expanding these activities and already hiring.
Boston Scientific said that it will keep Lumenis's surgical operations in Israel in Yokneam. Boston Scientific SVP and president urology and pelvic health 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."
Boston Scientific has had a relationship with Lumenis for more than 20 years and currently sells the Lumenis urology laser portfolio in the US and Japan through a distribution arrangement.
Published by Globes, Israel business news - en.globes.co.il - on September 1, 2021
Copyright of Globes Publisher Itonut (1983) Ltd. 2021 .