Chinese investment firm XIO Group has signed a definitive agreement to acquire Israel’s energy-based medical company, Lumenis, for $510m.

Under the agreement, XIO will pay $14 per share in cash to Lumenis shareholders.

Lumenis’ two largest shareholders Viola Group and XT Hi-Tech Investments, which hold a collective 59% stake, have entered a customary voting agreement with XIO.

"Lumenis is a provider of minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets, and also offers energy-based technologies, including laser, intense pulsed light and radio frequency."

Lumenis CEO Tzipi Ozer-Armon said: "This acquisition is a strong recognition and vote of confidence in Lumenis’ achievements and its employees, and I am excited about the future prospects of Lumenis.

"Over the past three years, we have managed to transform Lumenis into a strong, growing and profitable company. We have refocused our strategy, introduced new products, and tripled our EBITDA."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

See Also:

Lumenis board of directors chairman Harel Beit-On said: "Over the last few years, we had an opportunity to lead Lumenis through a strategic transformation into a valuable growing business with global appeal.

"We respect and appreciate the efforts of Lumenis management and employees and wish the company continued success."

Lumenis is a provider of minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets, and also offers energy-based technologies, including laser, intense pulsed light and radio frequency.

Lumenis aesthetic product portfolio includes M22 with ResurFX, LightSheer INFINITY, LightSheer DESIRE and AcuPulse.

The firm’s surgical devices include Lumenis Pulse 120H, AcuPulse Duo, AcuPulse 40WG and VersaPulse Powersuite.

Subject to customary closing conditions, including approval by Lumenis’ shareholders and receipt of certain regulatory approvals, the proposed transaction is expected to close in September 2015.