Goldman Sachs increasing Lumenis stake to 25%
The Goldman Sachs investment bank is increasing its stake in Israeli medical technology company Lumenis to 25%, say capital market sources.
Other shareholders in Lumenis, which makes laser technology for medical and cosmetic applications, include Ofer Hi-tech, Harel Beit-On, Jonathan Kolber and his father Leo Kolber, Avi Zeevi, and the Aharon-Dovrat investment group.
At present Goldman Sachs owns 10% of Lumenis, which it bought in October 2006, when control over the company changed. At the time, it turns out, the bank received an option to increase its shareholding to 25% at the same company value.
Lumenis has been delisted from Nasdaq after failing to refile amended financial statements in time. It is suspected of having inflated its revenues in 2001 to 2003, when owned by Arie Genger.
The buyers have stated that they mean to relist the company on Wall Street during 2007.
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