Lumenis Ltd. has announced that it has signed a definitive agreement to be acquired by XIO Group for US$ 14.00 per share in cash, for an aggregate purchase price of approximately US$ 510 million.
The deal is expected to complete in September of this year.
Viola Group and XT Hi-Tech Investments (1992) are the major shareholders in Lumen with 59 per cent stake and they have entered into a customary voting agreement with XIO Group. Lumenis provides minimally-invasive clinical solutions for the surgical, ophthalmology and aesthetic markets.
“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, said Tzipi Ozer-Armon, CEO, 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,” he added.
Lumenis aesthetic product portfolio includes M22 with ResurFX, LightSheer INFINITY, LightSheer DESIRE, AcuPulse and others. The firm’s surgical devices include Lumenis Pulse 120H, AcuPulse Duo, AcuPulse 40WG, VersaPulse Powersuite and others. The company also offers energy-based technologies, including laser, intense pulsed light (IPL) and radio-frequency (RF).