Latham & Watkins Advises Boston Scientific in US$1.07 Billion Acquisition of Lumenis LTD. Surgical Business
Boston Scientific (NYSE: BSX) has announced that it has entered into a definitive agreement with an affiliate of Baring Private Equity Asia (BPEA) to acquire the global surgical business of Lumenis LTD., a privately held company that develops and commercializes energy-based medical solutions, for an upfront cash payment of US$1.07 billion, subject to closing adjustments. BPEA will retain ownership of the Lumenis global aesthetics and ophthalmology businesses. With 2021 net sales anticipated to be approximately US$200 million, the Lumenis surgical business includes premier laser systems, fibers, and accessories used for urology and otolaryngology procedures. Foundational to its urology portfolio is the proprietary MOSES™ technology, which has demonstrated differentiated clinical outcomes and efficiency in the management of patients with kidney stones.
Latham & Watkins LLP represents Boston Scientific in the transaction with a corporate deal team led by Boston partner Julie Scallen, with Boston partner Hans Brigham and Boston associates Cory Lewis, Dante Spurlock, and Michael Casagrande. Advice was also provided on tax matters by Washington, D.C. partner Nicholas DeNovio, with Washington, D.C. associate Pierce Pandolph; on insurance matters by Los Angeles partner Drew Levin, with San Diego associate Hannah Cary; on benefits and compensation matters by Chicago partner Robin Struve, with Chicago associates Leah Segall and Victoria Wolfe; on investment funds matters by New York partner Andrea Schwartzman; on regulatory matters by Washington, D.C. partner Elizabeth Richards and Bay Area counsel Betty Pang, with New York associate Lacey Henry and Washington, D.C. associate Alyssa Lattner; on data privacy matters by Bay Area counsel Heather Deixler, with London associate Mihail Krepchev; on compliance matters by Los Angeles counsel Katherine Sawyer, with Washington, D.C. associate Elizabeth Annis; on environmental matters by Washington, D.C. partner James Barrett; on litigation matters by Boston associate Shlomo Fellig; and on China-related matters by Shanghai partner Rowland Cheng, with Shanghai associate Vincent Jiang.