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Lumenis buys laser company HGM for $9.7 million:

This article was originally published in Clinica

Executive Summary

Lumenis is to buy HGM Medical Laser Systems, which develops products mainly for the ophthalmology market, for $9.7 million in cash. Yokneam, Israel-based Lumenis says the move forms part of its strategy to grow through organic development as well as acquisitions. Lumenis, which was previously known as ESC Medical Systems, says HGM's technology fits well with its own. The company also brings specialised technology to reduce the cost of manufacturing certain parts and accessories, which will be integrated into existing high-end product lines and form the basis of future product development, Lumenis says.

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