YOKNEAM, Israel, Dec. 6 -- Lumenis Ltd. has completed its acquisition of HGM Medical Systems, a Salt Lake City-based medical laser manufacturer. "This acquisition is a good fit with Lumenis and reinforces our leadership in the ophthalmic laser market place," said Yacha Sutton, Lumenis CEO and president. "We will be integrating certain products and specialized technologies into our existing product lines, which will be able to provide the basis for future development. We anticipate that this transaction will be immediately accretive and will contribute about $4 million to FY2002 earnings."
Lumenis, formed by the union between ESC Medical Systems and Coherent Medical Group, develops, manufactures and markets state-of-the-art proprietary laser and intense pulsed light devices. Its systems are used in a variety of aesthetic, ophthalmic and surgical applications, including hair removal, noninvasive treatment of vascular lesions and pigmented lesions, acne, open angle glaucoma, secondary cataracts, age-related macular degeneration, ENT, gynecology, urinary lithotripsy, benign prostatic hyperplasia, neurosurgery and dentistry.