|China’s XIO Group acquires Lumenis|
Lumenis Ltd., the world’s largest energy-based medical company for surgical, ophthalmology and aesthetic applications, announced in June that it had signed a definitive agreement to be acquired by XIO Group for US$14.00 per share in cash, for an aggregate purchase price of approximately US$510 million. The company is headquartered in Yokneam, Israel.
“This acquisition is a strong recognition and vote of confidence in Lumenis’ achievements and its employees, and I am excited about the future prospects of Lumenis,” said Tzipi Ozer-Armon, Chief Executive Officer. “Over the past three years we have managed to transform Lumenis into a strong, growing and profitable company. We have refocused our strategy, introduced new products, and tripled our EBITDA. Furthermore, we have created a very bright and promising future for Lumenis by building a robust pipeline of innovative products and a strong sales team in each region, and by enhancing our global brand recognition. I am confident that we will continue to thrive and reach new heights together with XIO Group.”
“We are excited about the announced transaction and the value created for Lumenis’ shareholders,” said Harel BeitOn, Chairman of the Board of Directors. “Over the last years, we had an opportunity to lead Lumenis through a strategic transformation into a valuable growing business with global appeal. We respect and appreciate the efforts of Lumenis management and employees and wish the company continued success.”Please login or register to see the full article