April 28, 2013 / 8:46 AM / 5 years ago

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

HONG KONG (Reuters) - Shanghai Fosun Pharma (Group) Ltd (600196.SS) said on Sunday it would spend up to $240 million to acquire up to 96.6 percent of Israel-based Alma Lasers Ltd ALMA.O, 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 (0656.HK), said it would make the investment together with Pramerica-Fosun China Opportunity Fund, a US-dollar denominated investment fund owned by Fosun Group.

Reporting by Lawrence White

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