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Israeli Medical Laser Co Lumenis Set To Raise $100 Million On Nasdaq

The company is returning to Nasdaq after delisting in 2005.


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The Yokneam-based company Lumenis Ltd. announced that it is set to raise $100 million on the Nasdaq. The company develops, manufactures and markets medical laser equipment for the surgical, ophthalmology and aesthetic markets.

Lumenis will issue 6.25 million shares at $15-17 per share and will thus raise $93.8-106.3 million (a midpoint of $100 million) at a company valuation of $529-599 million (a midpoint of $564 million).

Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC and Jefferies LLC will serve as joint book-running managers for the proposed offering. Wells Fargo Securities, LLC will serve as co-manager.

umenis founded in 1991 as ESC Medical the company and after changing its name to Lumenis it held an IPO on Wall Street. In 2005 the company delisted after being acquired by VPartners, a unit of the Viola Group, and partners.

After heavy losses from 2004 to 2008 and few years of breaking even, the company has undergone a major recovery. In 2013, the company recorded a net profit of $17.4 million.



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