Behind the Lumenis makeover
Veteran Israel medical device company Lumenis had its ups and downs, but with Tzipi Ozer-Armon in charge, its value has gone one-way.
The operation was a success: How Lumenis CEO quintupled the company s value Ever since Tzipi Ozer-Armon was named CEO of the Yokneam-based medical equipment company, the company s value has improved beyond recognition, including two sales to foreign investment funds. I believe in managerial depth, Ozer-Armon once told Globes . Gali Weinreb Late last week, Lumenis signed on the $1.1 billion sale of its surgical business to medical equipment giant Boston Scientific, just two years after Lumenis a a whole was acquired for a similar amount by private equity fund Baring Private Equity Asia. Once the sale is closed, in a few months, Lumenis will continue operating its medical aesthetics and ophthalmology divisions, over which it retains ownership.