Shanghai Fosun Pharma (Group) Ltd. said on Sunday it would spend up to $240 million to acquire up to 96.6% of Israel-based
Alma Lasers Ltd, a manufacturer of lasers used in cosmetic surgery.
Alma Lasers of Caesarea is an internationally well-known manufacturer of laser, light-based, radiofrequency and ultrasound products with integrated product portfolios for aesthetic and medical applications, and businesses located around the world.
According to the independent third party's report, Alma Laser captures a 15% share of the global market for high-end aesthetic devices with annual turnover near $100 million.
This is the first major buyout deal by Fosun Pharma since it listed on the Hong Kong Stock Exchange last October.
Fosun Pharma, a subsidiary of China's Fosun International Limited, said it would make the investment together with Pramerica-Fosun China Opportunity Fund, a US-dollar denominated investment fund owned by Fosun Group.
Alma CEO Doctor Ziv Karni is fully confident with this cooperation with Fosun Pharma, saying that "the Alma team is glad to become one of the members of Fosun Pharma.
"Fosun Pharma's previous successful experience in the merger and acquisition and the medical healthcare as well as the medical aesthetic device fields – this strategic development focus will become Alma's excellent platform in Asia as well as in the World's business development.
"We do look forward to cooperating with Fosun Pharma's management team and benefit from their professional experiences."
Fosun Pharma Chairman Chen Qiyu said, "We are confident in the growth of the global aesthetics industry, especially in China, Brazil, Russia and India. This represents a huge development space in developing countries. We will continue to support the global business development of Alma Lasers."
Fosun Pharma will establish Alma Lasers as a management platform for the R&D, manufacturing and sales of high-end medical devices, providing an internationalized development path for the company.
Reuters contributed to this report