Medical technology company Boston Scientific has agreed to acquire Lumenis’ global surgical business from an affiliate of Baring Private Equity Asia (BPEA) for an upfront cash payment of $1.07bn.
Lumenis global aesthetics and ophthalmology businesses will continue to operate under the ownership of BPEA.
The surgical business of Lumenis consists of laser systems, fibers and accessories used for urology and otolaryngology procedures.
The urology portfolio includes an advanced MOSES technology that has shown differentiated clinical outcomes and efficacy in the management of patients with kidney stones, said the company.
Boston Scientific urology and pelvic health president and senior vice president Meghan Scanlon said: “With double-digit compound annual growth from 2015 to 2019, we look forward to adding the innovative Lumenis laser portfolio, talented employees and surgical laser center of excellence to our organisation.
“The acquisition will expand our global footprint throughout Europe and Asia and accelerate the delivery of our robust stone management offerings to more urologists – ultimately serving more patients worldwide – while also improving our top-line growth and margins.”
Boston Scientific is currently marketing the Lumenis urology laser portfolio in the US and Japan through a distribution arrangement.
Once the deal concludes, Boston Scientific will market these lasers and fibers along with otolaryngology laser portfolio in all geographies including high-growth regions such as China.
Subject to customary closing conditions, the deal is expected to be completed in the second half of this year.
In January this year, Boston Scientific agreed to acquire mobile health solutions and remote monitoring services provider Preventice Solutions for an upfront cash payment of $925m.
Preventice Solutions provides a portfolio of mobile cardiac health solutions and services ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry.
