Health care company Shanghai Fosun Pharmaceutical (Group) Co. Ltd. is acquiring a 95.6 percent stake in Israel-based Alma Lasers Ltd. for $240 million, the company announced Sunday. Alma Lasers was formed in October 2005 from the merger of US-based Orion lasers and Israel-based MSQ. Alma Lasers makes laser, light-based, radio-frequency and ultrasound products for aesthetic and medical applications. Its research and development facilities are in Caesarea, Israel, and its global support center is in Chicago. Alma Lasers entered the Chinese market in 2003 and now has a 15 percent market share in the global high-end medical and beauty laser products industry with annual revenue of $100 million, the company said, adding that China is by far one of the biggest markets for Alma Lasers. "We are confident in the growth of the global aesthetics industry, especially in China, Brazil, Russia and India," said Fosun Pharma Chairman Chen Qiyu. "This represents a huge development space in developing countries." Hong Kong-based Fosun Pharma, which is making the acquisition with its subsidiary, Pramerica-Fosun Fund, said it will use Alma Lasers as a management platform for the R&D, manufacturing and sales of high-end medical devices, providing the company with an internationalized development path. For more information, visit: www.fosunpharma.com or www.almalasers.com/int