Boston Scientific Buys Surgical Business to Expand Kidney Stone Management Portfolio
By Robb M. Stewart
Boston Scientific Corp. struck a deal to buy the global surgical
business of privately held Lumenis Ltd. for a $1.07 billion upfront
cash payment in a move to expand its kidney stone management
The definitive agreement with an affiliate of Baring Private
Equity Asia Ltd., which would retain ownership of Lumenis's global
aesthetics and ophthalmology businesses, is subject to closing
adjustments, Boston Scientific said Wednesday.
The Lumenis surgical business, with 2021 net sales expected to
be about $200 million, includes laser systems, fibers and
accessories used for urology and otolaryngology procedures, Boston
The medical-technology company has had a relationship with
Israel-based Lumenis for more than 20 years and currently sells the
Lumenis urology laser portfolio in the U.S. and Japan through a
distribution arrangement. After completing the acquisition, Boston
Scientific said it would sell the lasers and fibers, as well as the
otolaryngology laser portfolio, to all geographies including
high-growth regions such as China.
Boston Scientific said it expects to complete the transaction in
the second half of the year, with the impact to its adjusted
earnings per share forecast to be immaterial in 2021 but is
expected to boost EPS by roughly two cents in 2022 and be
increasingly accretive thereafter. Due to amortization expense and
acquisition-related net charges, it said the purchase is expected
to weigh on earnings this year and then be less dilutive or
increasingly accretive thereafter.
Write to Robb M. Stewart at email@example.com
(END) Dow Jones Newswires
March 03, 2021 07:33 ET (12:33 GMT)
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