Baring Private Equity Asia (BPEA) and Israel-based Lumenis said Wednesday they have entered into a definitive agreement to sell the surgical business arm of Lumenis to US medical devices maker Boston Scientific for $1.07 billion.

The surgical business division of the Yokne’am, Israel-based firm includes its laser and fiber products for minimally invasive surgical procedures in urology and ear, nose and throat (ENT) procedures.

The aesthetics and ophthalmology division of Lumenis will continue to be owned by BPEA, the companies said in a statement. BPEA plans to reinvest part of the proceeds of the deal into the Israeli division it will continue to hold, to accelerate growth, the companies said in a statement.

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BPEA acquired Lumenis, a maker of minimally invasive clinical devices for aesthetics, urology and ophthalmology, from XIO Group in November 2019, in a deal that valued all the units of the Israeli firm at $1 billion. Tzipi Ozer-Armon, CEO of Lumenis (Courtesy)

Lumenis, founded in 1973, has developed and commercialized innovative........

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