Fosun Pharma says will buy Israel's Alma Lasers Ltd for $240 million

HONG KONG, April 28 Sun Apr 28, 2013 4:44am EDT

HONG KONG, April 28 (Reuters) - Shanghai Fosun Pharma (Group) Ltd said on Sunday it would spend up to $240 million to acquire up to 96.6 percent of Israel-based Alma Lasers Ltd, a manufacturer of lasers used in cosmetic surgery.

It is the first major buyout deal by Fosun Pharma since it listed on the Hong Kong Stock Exchange last October.

Fosun Pharma, a subsidiary of China's Fosun International Limited, said it would make the investment together with Pramerica-Fosun China Opportunity Fund, a US-dollar denominated investment fund owned by Fosun Group.