WaveLight has sold its laser urology unit

In July 2006, the Management of urology laser division of WaveLight AG, the listed Germany-based company engaged in the development, production, marketing and sales of laser systems, acquired the company in a management buyout transaction, backed by BayBG Bayerische Beteiligungsgesellschaft mbH, the Germany based venture capital firm, and S-Partner Kapital AG, the Germany based private equity firm, for an undisclosed consideration. Abolon acted as advisor to WaveLight AG.

The management team was led by Werner Falkenstein, division manager of WaveLight. Post acquisition, urology laser division will be renamed as StarMedTec GmbH and Werner Falkenstein, division manager of WaveLight, will continue as CEO of StarMedTec.