Baring Private Equity Asia Agrees to Acquire Lumenis
HONG KONG and TEL AVIV, Israel, Nov. 19, 2019 /PRNewswire/ -- Baring Private Equity Asia today announced that its affiliated private equity funds ("BPEA") have agreed to acquire Lumenis, a leading 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 is a global leader in the field of minimally-invasive clinical solutions for the Aesthetic, Surgical, and Ophthalmology specialties. For over 50 years, Lumenis' ground-breaking products have redefined medical treatments and have set numerous gold-standards. The company 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. 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," said Tzipi Ozer-Armon, CEO of Lumenis.
Yan Jiao, Managing Director at BPEA commented: "Lumenis has built a market-leading position by creating some of the most innovative technologies in the industry. It is a clear leader worldwide, especially in Asia which recently emerged as the largest market for medical and aesthetics treatments. We look forward to working with the CEO and management team to support their global growth aspirations."
The transaction remains subject to the customary regulatory approval process and is expected to be completed in early 2020.
About Lumenis
Lumenis is a global leader in the field of minimally-invasive clinical solutions for the Aesthetic, Surgical, and Ophthalmology markets, and is a world-renowned expert in developing and commercializing innovative energy-based technologies, including Laser, Intense Pulsed Light (IPL) and Radio-Frequency (RF). For over 50 years, Lumenis' ground-breaking products have redefined medical treatments and have set numerous technological and clinical gold-standards. Lumenis has successfully created solutions for previously untreatable conditions, as well as designed advanced technologies that have revolutionized existing treatment methods.
About Baring Private Equity Asia
Baring Private Equity Asia (BPEA) is one of the largest and most established private alternative investment firms in Asia, with total committed capital of over USD18 billion. The firm runs a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as investing into companies globally that can benefit from further expansion into the Asia Pacific region. BPEA also manages dedicated funds focused on private real estate and private credit. The firm has a 22 year history and over 160 employees located across offices in Hong Kong, China, India, Japan, Singapore and Australia. BPEA currently has over 30 portfolio companies active across Asia with a total of 158,000 employees and sales of approximately USD31 billion.
For more information, please visit www.bpeasia.com
About XIO
Founded in 2014 and headquartered in London, XIO Group is a global multi-billion-dollar alternative investments firm focused on identifying and investing in market-leading businesses located across North America and Europe helping these companies to capitalize on untapped opportunities in fast-growing markets, particularly in Asia.
For further details please contact:
For BPEA:
Newgate Communications
Richard Barton
[email protected]
+852-9301-2056
Candise Tang
[email protected]
+852-6375-3675
For Lumenis:
Scherf Communications
Motti Scherf
[email protected]
+972527202700
SOURCE Lumenis and Baring Private Equity Asia
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