Baring Private Equity Asia’s affiliated private equity funds are acquiring Lumenis. The transaction, which values Lumenis at an enterprise value of more than $1 billion, remains subject to the customary regulatory approval process. It is expected to be completed in early 2020.

"Baring Private Equity Asia's (BPEA) investment is a tremendous vote of confidence in Lumenis and in the achievements of our entire global organization. In recent years, we have developed and introduced multiple groundbreaking technological solutions that have redefined our industry and opened entirely new market segments. I would like to thank the entire Lumenis team, I am truly proud of all we have accomplished and honored to lead a company on the cutting edge of healthcare innovation, committed to improving the lives of people across the world. We look forward to partnering with the team at BPEA to continue developing and delivering to the world better technology for better patient care," says Tzipi Ozer-Armon, CEO of Lumenis, in a news release.

Yan Jiao, Managing Director at BPEA adds, "Lumenis has built a market-leading position by creating some of the most innovative technologies in the industry. It is a clear leader worldwide, especially in Asia which recently emerged as the largest market for medical and aesthetic treatments. We look forward to working with the CEO and management team to support their global growth aspirations."