Boston Scientific has acquired the surgical business of the Israeli company Lumenis in a $1.07 billion deal.
Boston Scientific said Sept. 1 that the deal means it will now sell surgical lasers developed by Lumenis. The lasers are mainly used to break down kidney stones and enlarged prostates, according to The Boston Globe. Other lasers included in the acquisition include those used in ear, nose and throat procedures.
The deal is expected to generate about $200 million for Boston Scientific in 2021.
Under the acquisition, about 500 Lumenis employees have joined Boston Scientific, according to the Globe. The two companies have had a partnership for the last two decades.
"This has been a deal that I've been quite keen to do for a number of years," Meghan Scanlon, president of Boston Scientific's urology and pelvic health business, told the Globe. "After 20 years of a very successful partnership between Boston Scientific and Lumenis, the time was perfect to add this formally to our global portfolio."
Read Boston Scientific's full news release here.