Updated on 30 April 2013
Fosun Pharma buys laser medtech firm for $240 mn
Singapore: Shanghai-based Fosun Pharmaceutical, along with Pramerica-Fosun Fund, is acquiring a 95.6 percent stake in Israel-based Alma Lasers for $240 million. The company's first merger and acquisition is a step towards positioning Fosun Pharma in international market.
Alma Lasers is a global manufacturer of laser, light-based, radiofrequency and ultrasound products with integrated product portfolios for aesthetic and medical applications, and businesses located around the world. With its world-leading core R&D capabilities in the medical and aesthetic device manufacturing field, Alma Lasers has established a leading global brand and recorded rapid growth in its performance.
In the past decade, Alma Lasers has performed outstandingly. According to the independent third party's report, Alma Laser captures a 15 percent share of the global market for high-end aesthetic devices with annual turnover near $100 million.
Dr Ziv Karni, CEO, Alma, said that, "The Alma team is glad to become one of the members of Fosun Pharma. We look forward to cooperating with Fosun Pharma's management team and benefit from their professional experiences."
Mr Chen Qiyu, chairman, Fosun Pharma, said that, "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 plans to 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.