Hong Kong Investors Buy Lumenis for US$510 Million

26 June, 2015—Lumenis, a global medical laser company based in Tel Aviv, Israel, announced last week that the company has signed a definitive agreement to be acquired by private venture group XIO Group in Hong Kong for approximately US$510 million. This makes the share price total US$14 in cash, a 16 percent premium on the closing price as of 17 June, the day before the agreement was signed. 
Lumenis specializes in minimally invasive clinical solutions in surgical, ophthalmology and aesthetic applications. Aesthetic lasers have been the main driver of the company’s sales.
 
The company was introduced to the Nasdaq in an IPO on 13 February, 2014, and has since created several new products, including a higher-power 2.1 µm holmium:YAG laser for urological and prostate applications. Lumenis chief executive officer, Tzipi Ozer-Armon said the company had tripled its EBITDA (earnings before interest, taxes, depreciation, and amortization) in the past three years. 
 
The board of directors of both Lumenis and XIO Group approved the transaction. The acquisition is expected to close in September 2015.