Hologic to Acquire Biolucent

(Bedford, MA, USA), a leading provider of diagnostic imaging and digital imaging systems directed towards women's health, has entered into a definitive agreement to acquire BioLucent, Inc. (Aliso Viejo, CA, USA) and its MammoPad breast cushion business. Concurrently with the closing of the transaction, Biolucent will spin-off its brachytherapy business into a newly created company, which will remain an independent company.

The purchase price will be US$70 million (subject to reduction in certain circumstances), plus a two-year earn out. The closing consideration will consist of $5 million in cash and an additional $65 million payable, at the election of Hologic, in cash, shares of Hologic Common Stock or a combination thereof.

BioLucent, is a privately held medical device company that designed, manufactures, and markets the MammoPad breast cushion, a radiolucent foam cushion that covers the cold, hard surfaces of all commercially available mammography equipment. BioLucent's patented MammoPad is designed to reduce the discomfort that inhibits many women from getting routine mammography screenings. MammoPad is offered as standard of care in nearly 20% of mammography facilities in the United States and has been used by more than 10 million women.

"Expanding our market share in women's health is a key element in the growth of our company,” said Jack Cumming, chairman and chief executive officer. "The acquisition of this technology is consistent with the company's strategy of looking to the future and building upon our established technology roadmap. We believe this acquisition provides us additional technical capabilities and customer relationships to further solidify our position of strength in the growing mammography market.”

Hologic is a leading developer, manufacturer, and supplier of diagnostic and medical imaging systems designed to serve the healthcare needs of women, and a leading developer of innovative imaging technology for digital radiography and breast imaging. Hologic's core business units are focused on mammography and breast biopsy, osteoporosis assessment, and mini C-arm and extremity magnetic resonance imaging (MRI) imaging for orthopedic applications.

BioLucent is a women's health company dedicated to the early detection of breast cancer. The company's MammoPad breast cushion reduces mammography discomfort while also ensuring high-quality images.


Related Links:
Hologic
BioLucent