IPG Photonics has entered into a binding offer to acquire Lumibird Medical, the medical division of France-based Lumibird Group, in a transaction valued at over $340 million, the companies announced. The acquisition would establish IPG as a significant participant in the ophthalmic laser market, adding Lumibird Medical’s portfolio of retinal, glaucoma, cataract, and diagnostic technologies to the Massachusetts-based company’s existing medical businesses in urology and dermatology.

Lumibird Medical markets its ophthalmic products under the Quantel Medical, Ellex, and Optotek Medical brands, which include retinal photocoagulation lasers, ophthalmic ultrasound systems, glaucoma lasers, and anterior segment laser platforms. The company’s investigational transscleral selective laser trabeculoplasty system is currently being evaluated in a clinical trial. GP