Dovrat-Angel Team Leads Bid for Lumenis

A consortium including Shlomo Dovrat and Udi Angel recently proposed injecting $40 million into Lumenis, a maker of medical and cosmetic laser and light-based systems, TheMarker has learned. Sources close to Lumenis said that other competitors for the Yokne'am-based company include Elco Holding's Gershon Zelkind, Fortissimo Capital Funds and Meir Shamir, who is collaborating with Moshe Mizrahi. It appears that the Dovrat-Angel bid far outpaces any other potential offer and will thus be preferred. Bids are being submitted to Bank Hapoalim, Lumenis's major creditor, which is owed $190 million. Lumenis was recently criticized by the U.S. Securities and Exchange Commission for allegedly inflating its 2001-2003 results.