Boston Scientific to acquire Lumenis surgical business for $1bn
Boston Scientific has agreed to acquire the global surgical business of Israel-based energy-based medical solutions provider Lumenis for $1.07 billion in cash.
In this connection, Boston Scientific has signed a deal with an affiliate of Baring Private Equity Asia (BPEA), which will retain ownership of the global aesthetics and ophthalmology businesses of Lumenis.
The surgical business of Lumenis is expected to register nearly $200 million in net sales in 2021. Its portfolio includes laser systems, fibers, and accessories that are employed for urology and otolaryngology procedures.
Lumenis’ urology portfolio is based on the company’s MOSES technology, which is said to have shown differentiated clinical outcomes and efficiency in managing patients having kidney stones.
Meghan Scanlon – senior vice president and president of Boston Scientific Urology and Pelvic Health said: “The MOSES laser technology, paired with our LithoVue Single-Use Digital Flexible Ureteroscope and comprehensive kidney stone management portfolio, will enable execution of our strategy for our stone franchise.
“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 organization.
“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 and Lumenis have been associated with each other for over 20 years. Currently, Boston Scientific sells the Lumenis urology laser portfolio in the US and Japan under a distribution arrangement.
After the closing of the acquisition, Boston Scientific will sell the lasers and fibers and also the otolaryngology laser portfolio to all countries, including China.
Tzipi Ozer-Armon – CEO of Lumenis said: “We take great pride in our heritage of innovation in surgical laser solutions which are helping millions of patients worldwide.
“Notably the proprietary, patent-protected MOSES technology has revolutionized urology laser procedures by improving the clinical efficacy and efficiency for kidney stones. We are confident that Boston Scientific, as a global leader in urology, and our long-time commercial partner, is the best organization to carry this legacy forward.”
The deal, which is subject to customary closing conditions, is expected to be wrapped up in the latter half of this year.