Lana acquires 50% stake in UAE’s Wavelight Technologies

Logo of Lana Medical Co.

Lana Medical Co. completed the acquisition of a 50% stake in Wavelight Technologies, a UAE-based medical devices company, today, Jan. 5, according to a statement to Tadawul.

The financial impact of the acquisition will be reflected from Jan. 1. The acquisition, valued at less than 5% of Lana's total revenue for 2023, will be financed through Lana’s own resources, the statement added.

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Wavelight Technologies specializes in the medical devices industry. This acquisition supports Lana’s strategy to expand through strategic local, regional, and global partnerships, enhancing its market position and leadership while increasing its market share.