XIO Group to Acquire Lumenis for $510 Million

Hong Kong investment firm XIO Group has agreed to buy Israeli devicemaker Lumenis for an estimated $510 million.

In announcing the acquisition Thursday, Lumenis CEO Tzipi Ozer-Amon said it represents a “vote of confidence” in the company’s achievements, which have included the launch of new products and tripling of pretax earnings over the past three years.  

The XIO group, which led Lumenis through a strategic reformation, specializes in global transactions. The devicemaker develops minimally invasive products for surgery, ophthalmology and aesthetics.

The deal is expected to close in September. — Jason Scott