MARLBOROUGH,
Mass., Sept. 1,
2021 /PRNewswire/ -- Boston Scientific (NYSE: BSX)
today announced the close of its acquisition of the global surgical
business of Lumenis LTD., a privately-held company that develops
and commercializes energy-based medical solutions, from an
affiliate of Baring Private Equity Asia (BPEA). The Lumenis
surgical business includes premier laser systems, fibers and
accessories used for urology and otolaryngology procedures with
total revenue anticipated to be approximately $200 million for full year 2021.
"The close of this acquisition allows us to integrate the
Lumenis laser portfolio – including the differentiated MOSES™
technology – with our category leading kidney stone management and
benign prostatic hyperplasia offerings while expanding our global
footprint to accelerate growth throughout Europe and Asia," said Meghan
Scanlon, senior vice president and president, Urology and
Pelvic Health, Boston Scientific. "Additionally, we are welcoming
significant talent to our Urology & Pelvic Health Team, and we
are excited to establish our global surgical laser center of
excellence in Yokneam where we will continue our focus on advancing
innovation to help surgeons improve patient care."
Boston Scientific announced a definitive agreement to acquire
the global surgical business of Lumenis on March 3, 2021 for an upfront cash payment of
$1.07 billion, subject to closing
adjustments. Boston Scientific has had a relationship with Lumenis
for over 20 years and, prior to close, already offered the Lumenis
urology laser portfolio in the U.S. and Japan through a distribution arrangement. With
the completion of this acquisition, Boston Scientific will now sell
these lasers and fibers – as well as the otolaryngology laser
portfolio – to all geographies including high-growth regions like
China. BPEA will retain ownership
of the Lumenis global aesthetics and ophthalmology
businesses.
The transaction's estimated impact to adjusted earnings per
share is expected to be immaterial in 2021, approximately
two cents accretive in 2022 and
increasingly accretive thereafter. On a GAAP basis, the transaction
is expected to be dilutive in 2021 and less dilutive or
increasingly accretive thereafter, as the case may be, due to
amortization expense and acquisition-related net charges.
About Boston Scientific
Boston Scientific
transforms lives through innovative medical solutions that improve
the health of patients around the world. As a global medical
technology leader for more than 40 years, we advance science for
life by providing a broad range of high performance solutions that
address unmet patient needs and reduce the cost of healthcare. For
more information, visit www.bostonscientific.com and
connect on Twitter and Facebook.
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This press release contains forward-looking
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of 1933 and Section 21E of the Securities Exchange Act of
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and many of them are beyond our control. For a further list
and description of these and other important risks and
uncertainties that may affect our future operations, see Part I,
Item 1A – Risk Factors in our most recent Annual Report on Form
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may update in Part II, Item 1A – Risk Factors in Quarterly Reports
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Use of Non-GAAP Financial Measures
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consolidated financial statements presented on a GAAP basis, we
disclose certain non-GAAP financial measures, including adjusted
net income and adjusted net income (earnings) per share that
excludes certain charges and/or credits, such as amortization
expense and acquisition-related net charges (credits). These
non-GAAP financial measures are not in accordance with generally
accepted accounting principles in the United States and
should not be considered in isolation from or as a replacement for
the most directly comparable GAAP financial measures. Further,
other companies may calculate these non-GAAP financial measures
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measures for comparative purposes. For further information
regarding our non-GAAP measures, see Part II, Item 7 - Management's
Discussion and Analysis of Financial Condition and Results of
Operations in our most recent Annual Report on Form 10-K, which we
may update in Quarterly Reports on Form 10-Q we have filed or will
file hereafter.
CONTACTS:
Kirsten Lesak-Greenberg
Media Relations
(763) 300-9254
Kirsten.Lesak-Greenberg@bsci.com
Lauren Tengler
Investor Relations
(508) 683-4479
BSXInvestorRelations@bsci.com
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SOURCE Boston Scientific Corporation