Hologic to Acquire Canadian MRI Breast Coil Manufacturer

(Bedford, MA, USA) has entered into an agreement to acquire Sentinelle Medical Inc. (Toronto, ON, Canada) for US$85 million, plus a two-year performance-related payout. The transaction, subject to customary closing conditions, is expected to conclude sometime in the third quarter of 2010.

Sentinelle, a privately held company, is a leading provider of Magnetic Resonance Imaging (MRI) breast coils, tables, and visualization software. The company is dedicated to developing advanced breast-imaging technologies using high-field strength MRI to help with earlier detection of breast cancer. Sentinelle's Vanguard breast coils provide quality images, and open access for interventions. The company's imaging and interventional software, Aegis Breast, helps in the guidance of biopsy procedures and allows the radiologist to manipulate images in three dimensions.

Hologic is a leading manufacturer of medical imaging systems, diagnostics, and surgical products dedicated to serving the healthcare needs of women. Hologic's core business is focused on breast health, diagnostics, GYN surgical, and skeletal health. The purchase signals Hologic's intent to maintain a leadership position in women's healthcare.

The acquisition, complementary to Hologic's efforts, expands the company's presence in women's healthcare with added product offering through its sales channels, capitalizing on the current interest in high-performance MRI coils for breast imaging. Hologic also intends to leverage best-in-class coil technology for Magnetic Resonance (MR) systems across other anatomy-specific applications.

Cameron Piron, president and CEO of Sentinelle Medical said, "This merger is a natural fit. Our expertise in MR breast imaging combined with Hologic's resources should further accelerate the adoption of our technology and ultimately benefit physicians and improve patient care.”

Rob Cascella, president and CEO of Hologic said, "Magnetic Resonance is rapidly becoming a standard of care for breast cancer screening of women indicated as having a high risk of developing the disease. This acquisition should further strengthen our comprehensive portfolio of product offerings in the areas of breast cancer detection and intervention.”

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