Baring Private Equity Asia (BPEA) has agreed to acquire Lumenis, a 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 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,” said Tzipi Ozer-Armon, CEO of Lumenis. “In recent years, we have developed and introduced multiple groundbreaking technological solutions that have redefined our industry and opened entirely new market segments. 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.”
The transaction remains subject to the customary regulatory approval process and is expected to be completed in early 2020.