Sino-European private equity firm AGIC Capital has acquired Fotona, a European manufacturer of lasers for medical, dental and aesthetic applications.

AGIC will hold 100 per cent of the business, which it has acquired from Los Angeles-headquartered investment firm The Gores Group.

With investment and management support from AGIC, Fotona will be able to accelerate its growth in Asia, in particular in China, its fastest growing market.

“Fotona has seen exceptional growth in Europe and the US, its largest market, and has a strong track record for delivering innovative product lines. China is now the fastest growing market for medical and aesthetic lasers and with our support, the business will be well positioned to become a leading brand across Asia,” Sam Sun, managing director and head of Greater China for AGIC said.

The acquisition of Fotona is technology-focused firm AGIC’s third investment, following its backing of rubber and plastics machinery manufacturer KraussMaffei and robotics business Gimatic and its first in the healthcare sector.

The firm led by ex-Deutsche Bank man Henry Cai closed its first fund at $1bn (€930m) in February.

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