French company Lumibird will become the world leader for laser and ultrasound technologies with the A$100 million acquisition of Australian Ellex Medical’s laser and ultrasound division.
The acquisition offers strong potential for growth and value creation, said Lumibird’s CEO Marc Le Flohic, combining its subsidiary Quantel Medical with Ellex, creating product and commercial synergies, as well as research and development scalability. He said the divisions’ geographical positions are also highly complementary; Ellex is well-established in Japan and the US, and Quantel Medical covers Europe.
“To truly create a difference in the lives of as many people affected by laser treatable blindness as possible, it is vital for companies such as Quantel Medical and Ellex to come together in order to reach a critical mass and make the most of their respective strengths; be that in diagnostic devices such as ultrasound or in treatments based on laser products,” Le Flohic said.
The acquisition will be submitted to Ellex’s shareholders for approval at a general meeting in the first half of 2020, with completion to occur mid-2020.