Hologic Sells Lifecodes Business to Immucor

(Bedford, MA, USA), a developer, manufacturer, and supplier of diagnostics, medical imaging systems, and surgical products focused on the healthcare needs of women, reported that it has entered into an agreement to sell its Lifecodes business unit to Immucor, Inc. (Norcross, GA, USA).

Hologic will receive USD 85 million in cash at closing, under the terms of the agreement, and have the opportunity to earn a contingent payment of USD 10 million based on achievement of certain financial targets for the calendar year 2013. “Our sale of Lifecodes will enable Hologic to focus our resources on diagnostics opportunities that are more in-line with our fundamental growth strategies,” said Rob Cascella, Hologic’s president and CEO. “We are committed to reducing our debt balance and plan to use proceeds from the sale of Lifecodes for that purpose.”

Hologic acquired the Lifecodes business unit as part of its acquisition of Gen-Probe Incorporated, which was completed on August 1, 2012. Lifecodes sells molecular and antibody-based assays in the markets of transplant diagnostics, specialty coagulation, and transfusion medicine.

Hologic operates four core business units focused on diagnostics, skeletal health, breast health, and gynecologic surgical.

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