Boston Scientific has concluded the acquisition of the international surgical business of Lumenis from a Baring Private Equity Asia (BPEA) affiliate following an upfront payment of $1.07bn.
In March, Boston Scientific signed a definitive agreement to acquire the surgical business.
Lumenis creates and markets energy-based medical solutions for less-invasive aesthetic and vision applications.
The Lumenis surgical business comprises laser systems, fibres, and accessories utilised in urology and otolaryngology procedures and has predicted total revenue of nearly $200m for full-year 2021.
With the acquisition, Lumenis intends to focus on and expedite scheduled investments to back the development of its quickly expanding aesthetic and vision businesses.
Furthermore, the company will focus on research and development (R&D), international sales, and marketing channels and business development works.
Boston Scientific will market the lasers and fibres as well as the otolaryngology laser portfolio to all regions, including increased growth regions such as China.
Boston Scientific and Lumenis have been collaborating for more than two decades.
Previously, Boston Scientific supplied the urology laser portfolio of Lumenis in the US and Japan under a supply arrangement.
The ownership of Lumenis’ global aesthetics and ophthalmology businesses will be retained by BPEA, the company noted.
Boston Scientific urology and pelvic health senior vice-president and president Meghan Scanlon said: “The close of this acquisition allows us to integrate the Lumenis laser portfolio – including the differentiated MOSES technology – with our category-leading kidney stone management and benign prostatic hyperplasia offerings while expanding our global footprint to accelerate growth throughout Europe and Asia.
“Additionally, we are welcoming significant talent to our urology and pelvic health team, and we are excited to establish our global surgical laser centre of excellence in Yokneam where we will continue our focus on advancing innovation to help surgeons improve patient care.”
Last month, the US Food and Drug Administration granted 510(k) clearance to Boston Scientific’s EXALT Model B Single-Use Bronchoscope for use in bedside procedures in intensive care units and operating rooms.