Boston Scientific has signed a definitive agreement with a Baring Private Equity Asia (BPEA) affiliate to acquire the global surgical business of Israeli company Lumenis for an upfront cash payment of $1.07bn.
The latest acquisition will help Boston Scientific to grow its global kidney stone management portfolio.
According to the agreement, BPEA will retain ownership of the Lumenis’ global aesthetics and ophthalmology businesses.
The Lumenis surgical business comprises premier laser systems, fibres, and accessories that are used in urology and otolaryngology procedures.
MOSES technology is the basis of its urology portfolio. It has shown differentiated clinical outcomes and efficiency in managing kidney stone patients.
Boston Scientific Urology and Pelvic Health senior vice-president and president Meghan Scanlon 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.
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“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 has been working together with Lumenis for more than 20 years, and currently, markets the latter’s urology laser portfolio in the US and Japan.
Following the completion of the deal, Boston scientific will add Lumenis’ employees and its surgical laser centre of excellence to the company. It is anticipated in the second half of this year.
Boston scientific will also sell the urology lasers and fibres and otolaryngology laser portfolio globally, including in China.
In January, the US Food and Drug Administration (FDA) approved Boston Scientific’s fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System for conditional use in a magnetic resonance imaging (MRI) environment.