Fosun Pharma, Pramerica-Fosun buy Israel’s Alma Lasers
Shanghai Fosun Pharmaaceutical, a subsidiary of China’s Fosun International, and the Pramerica-Fosun China Opportunity Fund, will be around $240 million to acquire up to 95.6% of Israel-based Alma Lasers.
The Pramerica-Fosun China Opportunity Fund is a US-dollar denominated joint venture vehicle with US insurer Pramerica, which is managed by Fosun.
This is the first major acqusition by Fosun Pharma since it listed in Hong Kong last October. It offers access to the global leading medical equipment manufacturing business.
"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," said Chen Qiyu, chairman of Fosun Pharma. "We are confident in the growth of the global aesthetics industry, especially in China, Brazil, Russia and India."
Alma is a medical technology company that produces medical and energy-based devices - including lights, lasers, radio frequency and ultrasound - and partners with global clinics and hospitals. Total assets came to $82.78 million at the end of last year.
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