Baring Private Equity Asia Acquires Lumenis in Over $1 Billion Deal

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 19, 2019, local time, Baring Private Equity Asia announced that its affiliated private equity fund (BPEA) had agreed to acquire Lumenis from London-based investment firm XIO Group. The transaction values Lumenis at over $1 billion.

Lumenis, founded in 1966 and headquartered in Jerusalem, Israel, specializes in developing minimally invasive clinical devices for the aesthetic, surgical, and ophthalmology specialties. For over five decades, the company’s breakthrough products have redefined medical practices and established numerous gold standards. Lumenis develops innovative solutions for many hard-to-treat conditions and revolutionizes advanced technologies used in existing treatments.

Lumenis has branches in more than 100 countries and regions worldwide, with nearly 1,500 employees. Its business operations span the Asia-Pacific, North America, Europe, the Middle East, Africa, and other regions, with the most extensive market presence in the Asia-Pacific region.

Baring Private Equity Asia (BPEA), founded in 1997 and headquartered in Hong Kong, China, is the largest private equity firm in the Asia-Pacific region. The company focuses on growth equity investments and mid-market acquisitions, with primary investment markets including China, India, Japan, and Singapore. BPEA currently has more than 30 active portfolio companies in Asia, employing approximately 160,000 people and generating annual sales of around $31 billion.

Tzipi Ozer-Armon, CEO of Lumenis, stated, “The investment by BPEA demonstrates significant confidence in Lumenis and our entire global organization. In recent years, we have developed and introduced a range of breakthrough technological solutions that have redefined our industry and opened up entirely new market segments. I would like to thank the entire Lumenis team, and I am proud to lead a company at the forefront of healthcare innovation, dedicated to improving the lives of people around the world. We will continue to develop superior technologies and deliver better care to patients.”

Yan Jiao, Managing Director at BPEA, stated: “Lumenis has established its market leadership by creating some of the most innovative technologies in the industry, particularly by opening up the largest aesthetic and medical markets in Asia. We look forward to collaborating with the Lumenis team to support their global growth ambitions.”

This transaction remains subject to standard regulatory approval procedures and is expected to be completed in early 2020.

(Compiled by He Li)