Medical-device maker Lumenis to be sold to Hong Kong’s XIO for $510 million
Thursday, June 18, 2015
(Haaretz Daily by Dror Reich) – Israel's Lumenis, which makes equipment for surgical, ophthalmology and aesthetic applications, said Thursday it was being sold to the Hong Kong investment company XIO Group for $510 million.
The sale comes just less than a year-and-a-half after the company returned to the stock market after a 10-year hiatus and marks another step in the deepening business relations between Israel and China.
XIO agreed to buy Lumenis at $14 a share, a 16% premium over the company's $12.08 closing price on the Nasdaq Wednesday. In pre-market trading, Lumenis shares shot up to $13.65, nearly closing the gap.
If competed, it will the largest buyout of an Israeli tech companies this year, beating out the $450 million Pitney Bows’ paid for Borderfree and the $433 million Francisco Partners paid for ClickSoftware.
