Shanghai Fosun Pharmaceutical, a leading healthcare company in China, has paid $240 million to acquire 95.6% shareholding of Israel’s Alma Lasers, a leading manufacturer of laser, light-based, radiofrequency and ultrasound products with integrated product portfolios for aesthetic and medical applications.

Fosun Pharm said it would make the investment together with Pramerica-Fosun China Opportunity Fund, a US-dollar denominated investment fund owned by the Fosun Group.

Caesarea-based Alma Laser captures a 15% share of the global market for high-end aesthetic devices with an annual turnover near $100 million.

“The Alma team is glad to become one of the members of Fosun Pharma,” said Alma CEO Ziv Karni. “Fosun Pharma’s previous successful experience in the merger and acquisition and the medical healthcare as well as the medical aesthetic device fields – this strategic development focus will become Alma’s excellent platform in Asia as well as in the World’s business development.”

Fosun Pharma Chairman Chen Qiyu said in a statement: “We are confident in the growth of the global aesthetics industry, especially in China, Brazil, Russia and India. This represents a huge development space in developing countries. We will continue to support the global business development of Alma Lasers.”