On December 23, 2019, The Lumibird Group (Lannion, France) has signed an agreement with Ellex Medical Lasers (Adelaide, Australia) to acquire Ellex’s laser and ultrasound business for 100 million Australian dollars (approximately over $68 million). This acquisition will enable laser and ultrasound technologies used in the diagnosis and treatment of ocular diseases.
The combination of Lumibird’s medical activities (through its subsidiary Quantel Medical) with those of Ellex offers strong potential for growth and value creation, thanks in particular to:
Product synergies with complimentary features in terms of the pathologies addressed and comprehensive segmentation covering the various categories adapted for all markets
Commercial synergies, with Ellex directly handling 75% of its sales, while Quantel Medical sells primarily through its strong network of distributors. Their geographical positionings are also highly complementary, with Ellex particularly well established in Japan and the U.S. and Quantel Medical covering Europe.
A scale effect, resulting from the alliance between the two companies, which will notably further strengthen their joint R&D capabilities
The acquisition will be submitted to Ellex’s shareholders for approval at a general meeting to be held during the first half of 2020, with completion to occur mid-2020.