April 19, 2005 - Yokneam, Israel
Yokneam, Israel, April 19, 2005 – Lumenis® Ltd. (LUME.PK), a global developer, manufacturer and seller of laser and light-based devices for medical, aesthetic, ophthalmic, dental and veterinary applications, announced today it has reached agreement to outsource its global IT services to EDS Israel, a wholly-owned subsidiary of Electronic Data Systems Corporation (NYSE: EDS).
EDS will manage and operate Lumenis’ internal IT activities and services for a period of up to 8 years at all existing sites, which include the USA, Europe, China, Hong Kong, Japan and Israel. The agreement provides for the employment of Lumenis’ IT employees by EDS; for the operation, maintenance and upgrade of existing IT hardware and software applications and the implementation of a new global ERP platform.
Avner Raz, Lumenis President and Chief Executive Officer, commented, “Our new relationship and cooperation with EDS, a world renowned and experienced IT service provider, will allow us to retain the expertise and knowledge of our IT employees, better manage costs, and provide Lumenis with IT applications and platforms to support our growth.”
EDS provides a broad portfolio of business and technology solutions to help its clients worldwide improve their business performance. EDS’ core portfolio comprises information-technology, applications and business process services, as well as information-technology transformation services. EDS’ A.T. Kearney subsidiary is one of the world’s leading high-value management consultancies. With more than $20 billion in annual revenue, EDS is ranked 87th on the Fortune 500. The company’s stock is traded on the New York (NYSE: EDS) and London stock exchanges. Learn more at http://www.eds.com.
Lumenis is a global developer, manufacturer and seller of laser and light-based devices for medical, aesthetic, ophthalmic, dental and veterinary applications. The Company offers a wide range of products along with extensive product support systems including training, education and service. Lumenis invests heavily in research and development to maintain and enhance its leading industry position. The Company holds numerous patents worldwide on its technologies. For more information about Lumenis and its products, log onto www.lumenis.com.
Lauri Hanover, CFO
The statements in this press release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward looking statements based on a variety of factors, including, among others: uncertainties with respect to market acceptance of the Company's products, the implementation and outcome of its Turnaround Plan, obtaining regulatory approvals for new products or for the sale of existing products in new markets and enforcement of intellectual property rights; risks associated with competition and competitive pricing pressures, economic conditions generally, the Company's international operations and the Company's ability to integrate its operations with those of acquired businesses; the outcome of the Securities and Exchange Commission investigation and several securities class action lawsuits to which the Company is subject and the outcome of the investigation conducted by the Audit Committee; uncertainties relating to the Company’s continuing liquidity; and other risks detailed from time to time in the reports filed by Lumenis with the SEC, including its annual report on Form 10-K and quarterly reports on Form 10-Q.