November 19, 2019 / 9:48 AM / 20 days ago

Baring Private Equity Asia to buy medical device maker Lumenis

TEL AVIV (Reuters) - Baring Private Equity Asia has agreed to acquire Lumenis from London-based investment firm XIO Group in a deal that values the Israeli medical device maker at more than $1 billion.

Lumenis develops minimally invasive clinical devices for the aesthetic, surgical and ophthalmology specialties.

The company has close to 1,500 employees worldwide. Asia Pacific is its largest market but it also has a strong presence in North America and Europe, the Middle East and Africa.

“It is a clear leader worldwide, especially in Asia which recently emerged as the largest market for medical and aesthetics treatments,” said Yan Jiao, managing director at Baring Private Equity Asia.

The deal is expected to be completed in early 2020.

Baring Private Equity Asia has committed capital of over $18 billion.

Reporting by Tova Cohen; Editing by Steven Scheer

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