Fosun Pharmaceutical acquires Israeli aesthetic device company

Shanghai Fosun Pharma (Group) Ltd announced on Monday that it has acquired a 95.2 percent stake in Israel-based Alma Lasers Ltd for $221 million.

Set up in 1999, Alma Lasers is a developer and manufacturer of laser, light-based, radio-frequency and ultrasound products with integrated product portfolios for aesthetic and medical applications.

It accounts for 15 percent of the global high-end aesthetic devices market.

Fosun Pharma said it made the investment together with its subsidiary Pramerica-Fosun China Opportunity Fund, a US-dollar denominated investment fund.

According to Chen Qiyu, chairman of Fosun Pharma, the Chinese medical giant is confident in the growth of the global aesthetics industry, especially in China, Brazil, Russia and India.

"We will continue to support the global business development of Alma Lasers," he said, adding that Fosun Pharma will establish Alma Lasers as a management platform for research and development, manufacturing and sales of high-end medical devices, providing an internationalized development path for the company.